On Smith

[Mathew Forstater]

Heilbroner's THE ESSENTIAL ADAM SMITH includes excellent excerpts from THE THEORY
OF MORAL SENTIMENTS (TMS), AN INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF
NATIONS (WN), as well as LECTURES ON JURISPRUDENCE, and HISTORY OF ASTRONOMY.
Heilbroner also has two very important good articles on Smith : "The Paradox of
Progress: Decline and Decay in the Wealth of Nations" (arguing that Smith's system
leads to both material decline and moral decay) in Andrew Skinner's 1976 edited
collection commemorating the 200th anniversary of the Wealth of Nations.  Also "The
Socialization of the Individual Adam Smith" from HISTORY OF POLITICAL ECONOMY.
Full refs available on request.  Also, the Scottish school of Political Economy,
including the works of A. L. Macfie (THE INDIVIDUAL IN SOCIETY), D. D. Raphael,
Andrew Skinner, and others all present the "other" Adam Smith. All highly
recommended. As Michael P. pointed out, most economists have never read WN, and
never even heard of TMS.  "Das Adam Smith Problem" concerning the relation of
Smith's two great works (TMS and WN) is effectively dealt with by the Scottish
school and Heilbroner, as well as work by Vivienne Brown and Jerry Evensky.  This
is not to take away anything from Michael's interesting and learned interpretation.
Mat

Carrol Cox wrote:


> There are many such delightful passages in Smith. One wonders if the
> conservative college students who wear Adam Smith T-Shirts ever read him. The
> Wealth of Nations is an absolute delight to read, regardless of its economic
> theory. I have not read his work on ethics (and just now forget the title), but
> I imagine it would make good reading too.
>
> Carrol