Book forum?

[jhockin]

Without getting too detailed, and trying to avoid the ban on political discussions, I'd just refer to the authors' ( mostly) uncritical praise of Adam Smith, his ideas & "free trade", etc.

[MacMillan of Rathdown]

Without getting too detailed, and trying to avoid the ban on political discussions, I'd just refer to the authors' ( mostly) uncritical praise of Adam Smith, his ideas & "free trade", etc.

For those not in the know:

Adam Smith (1723-1790) was an 18th century political economist and moral philosopher, born in Kirkaldy, Fife. "In his mid-twenties he became friends with of members of the Edinburgh intelligencia including David Hume, John Home, and William Robertson, and from 1751 (at the age of 28) he held the chair of logic at Glasgow University, transferring to Moral Philosophy in 1755. Smith's Theory of Moral Sentiments (1759) argued for an innate sympathy with others on the basis of social morality. In 1776 he published his Inquiry into the Nature and Causes of the Wealth of Nations, a brilliant synthesis of concepts such as the division of labour, market mechanisms and credit structures. He endorsed free trade and consumer sovereignty but he believed in enlightened self-interest as well as moral sympathy." (Quoted material from The Illustrated Encyclopedia of Scotland.)

So, if one agrees with the basic premise of Adam Smith's 18th century philosophies-- keeping in mind the fact that his published works are still required reading in economic studies at universities around the world-- one would probably be largely uncritical of the contributions made by Smith to moral and economic philosophy. If, on the other hand, one did not agree with the concepts of "free trade"-- or Smith's other economic and philosophic ideas-- then one could be critical of his work, or critical of the unstinting praise heaped upon him in How The Scots Invented The Modern World.

It is, in the final analysis, a matter of historical perspective versus political ideology.

[svc40bt]

While I managed to receive my business economics degree without reading 'Wealth of Nations, my professors thought highly enough of Mr. Smith to give me a copy of the book with all their signatures at my graduation. His book covers most of the basic theories taught in modern micro and macro-economics.