"The Political Economy Reader advocates a particular approach to the study of political economy - the "market-institutional" perspective - which emphasizes the ways in which markets are embedded in political and social institutions. This perspective offers a compelling alternative to the...

There is a familiar way to appeal to Adam Smith (1723-1790), the famous philosopher and great economic thinker of the Scottish Enlightenment. He is often considered as the father of modern economics and capitalism. We must also consider the frequent references to him. "What would Adam Smith...

In recent years studies have appeared that highlighted Adam Smith's interventionist recommendations. These opinions are not new. The exceptions to liberalism in Smith's thought were pointed out by Jacob Viner in 1927. Even before Viner, there were economists who condemned the exaggeratedly...