Adam Smith and the Wealth of Nations

This book examines the work of Adam Smith and his interest in the science of the legislator. Smith's criticism of the mercantile system and the political dimension of capitalism is discussed, alongside insight into what institutions he saw as necessary to transform the mercantile system into a system of natural freedom. Through insights into Smith's analysis of the political threats of capital accumulation and the growth of inequality, the point at which he discovered capitalism is highlighted. This book aims to explore Smith's belief set out in The Wealth of Nations that the mercantile system was a viable, if dangerous, economic model. It is relevant to students and researchers interested in the history of economic thought.

Provides historical context for Adam Smith's work to enable a cohesive analysis of his writing. Situates Adam Smith's ideas alongside his philosophical and political positions. Utilises archival research and findings.

Autorentext

Daniel Diatkine is Emeritus Professor for economics at the University of Paris-Saclay and the University of Évry.

Inhalt

1. Smith and Economic Liberalism.- 2. Hume's challenge: Hume's theory of promise.- 3. The rules of the game.- 4. The (Benign) Economic Consequences of the Mercantile System.- 5. The malignant effects of the mercantile system.- 6. Economic Progress without Capital Accumulation.- 7. The Accumulation of Capital.- 8. Employment, Money and Interest in the Wealth of Nations.- 9. Conclusion. <p