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On Adam Smith's Ambiguities on Value and Wealth

Meacci, Ferdinando - In: History of Political Economy 44 (2012) 4, pp. 663-689

David Ricardo’s criticisms of Adam Smith on value and wealth have been rather ignored in the recent revival of … Ricardian economics. This essay intends to fill the gap by revisiting Smith’s link between value and wealth in the light of … section is to dissolve Smith’s terminological inaccuracies or contradictions on the issue of value and wealth. This is done by …

Persistent link: https://www.econbiz.de/10010598483

Smith, Marshall and Young on division of labour and economic growth

Lavezzi, Andrea - In: The European Journal of the History of Economic Thought 10 (2003) 1, pp. 81-108

The aim of this paper is to reconstruct the theory of division of labour and economic growth proposed by Adam Smith and developed by Alfred Marshall and Allyn Young. In their approach division of labour is the main engine of growth and plays a central role in capital accumulation and...

Persistent link: https://www.econbiz.de/10005505343

Bernard Mandeville's heir: Adam Smith or Jean Jacques Rousseau on the possibility of economic analysis

Prieto, Jimena Hurtado - In: The European Journal of the History of Economic Thought 11 (2004) 1, pp. 1-31

In this paper I argue that Bernard Mandeville, Jean Jacques Rousseau and Adam Smith are confronted to the same question: how to explain values from a naturalistic origin of morality. An in-depth analysis of their theories of human nature and market society will show that Rousseau is further from...

Persistent link: https://www.econbiz.de/10005505393

Liberty and Economic Growth in Adam Smith’s Possible World

Jackson, Mark - In: Constitutional Political Economy 16 (2005) 3, pp. 277-284

Constitutional economics proposes and pursues a solution to public-policy problems, one that supplies rules designed to narrow the opportunity set of rational politicians. This work proposes and pursues “rational policy” as a complementary strategy to solve public-policy problems, where...

Persistent link: https://www.econbiz.de/10005542072

Adam Smith on Instincts, Affection, and Informal Learning: Proximate Mechanisms in Multilevel Selection

Wight, Jonathan - In: Review of Social Economy 67 (2009) 1, pp. 95-113

Why do people give away knowledge in tutoring other people's children or when mentoring junior employees? Neoclassical economists explain informal learning as rational behavior that arises out of enlightened self-interest. They can also justify it as acts that satisfy the agent's preferences for...

Persistent link: https://www.econbiz.de/10005482950

Adam Smith's Ethics and the “Noble Arts”

Wight, Jonathan - In: Review of Social Economy 64 (2006) 2, pp. 155-180

Adam Smith's character-based ethical system lays the foundation for his vision of the social and economic good. Within this system, the arts perform a critical role. Smith's essays “Of the Imitative Arts” and his Lectures on Rhetoric and Belles Lettres are useful companions to The Theory of...

Persistent link: https://www.econbiz.de/10005483099

Visible Hand: Public Policy nd Economic Growth in the Nehru Era

Balakrishnan, Pulapre - eSocialSciences - 2008

This paper investigates the relationship between the policy regime and growth during 1950-64 termed here â€˜the Nehru eraâ€™. While there exist valuable early appraisals of the period, access to new data and fresh information allows for a longer and comparative view of the outcome. [WP...

Persistent link: https://www.econbiz.de/10005487561

Jury on Stage: A Common Law Play

Holler, Manfred; Leroch, Martin - Berkeley Electronic Press

Legal processes have a theatrical component to them. They offer an audience (the spectators) and actors (the legal parties, lawyers, as well as the jury and judge) who perform a play on the stage of the courtroom. In this paper we focus on the role of the jury, which appears to be simultaneously...

Persistent link: https://www.econbiz.de/10005458958

Adam Smith's use of multiple references for his pin making example

Peaucelle, Jean-Louis - In: The European Journal of the History of Economic Thought 13 (2006) 4, pp. 489-512

At the beginning of The Wealth of Nations Adam Smith describes a pin factory. It is widely accepted that this example … to Smith's to support the assertion that he based his work on four previous French publications. The Wealth of Nations …

Persistent link: https://www.econbiz.de/10005463054

The Invisible Hand in Modern Macroeconomics

Tobin, James - Cowles Foundation for Research in Economics, Yale University - 1991

The Invisible Hand, one of the Great Ideas of history and one of the most influential, is Adam Smith's most important legacy to macroeconomics, as to all economics. It is particularly important today as the ultimate inspiration for the New Classical Macroeconomics and for Real Business Cycle...

Persistent link: https://www.econbiz.de/10005464011