Adam Smith: A Moral Philosopher and His Political Economy

237 Pages·2010·1.043 MB·English

by  Gavin Kennedy

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10.1057/9780230291652 - Adam Smith, Gavin Kennedy
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10.1057/9780230291652 - Adam Smith, Gavin Kennedy
Adam Smith
A Moral Philosopher and His Political
Economy
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10.1057/9780230291652 - Adam Smith, Gavin Kennedy
©GavinKennedy2008,2010
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AdamSmith:amoralphilosopherandhispoliticaleconomy/ ww.
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1. Smith,Adam,1723–1790—Politicalandsocialviews. eri
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For Isobel Jean
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10.1057/9780230291652 - Adam Smith, Gavin Kennedy
Contents
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Preface x 4-
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Acknowledgements xi ct -
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1 GeneralIntroduction:WhyAdamSmith? 1 av
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WhatisWealthofNationsabout? 2 al
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Smith’shistoryofWesternEurope 5 a -
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2 ‘sufficientproofsofhisfitness’ 7 ustr
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Introduction 7 stle,
AdamSmith,Senior 7 ca
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MargaretDouglasSmith 8 Ne
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AdamSmith’seducation 8 y
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Aprofessorischosen 11 er
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3 ‘inthefirstagesofsociety’ 14 o
Introduction 14 ed t
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Smith’scommontheme 14 ce
Smith’s‘marketmodel’ 15 m - li
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Anexchangemodel? 17 c
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Origins 18 ne
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Fouragesofmankind 19 c
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Smith’sconjecture 20 gra
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4 ‘soweakandimperfectacreatureasman’ 25 w.
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Introduction 25 m
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Thelooking-glass 26 al fr
Theimpartialspectator 28 eri
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Harmonisinginfluences 30 m
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Hobbesiannightmares? 34 g
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5 ‘generalprinciplesoflawandgovernment’ 39 C
Introduction 39
TheinterregnumandthefalloftheRome 39
Thedeclineoffeudalism 44
Constitutionalliberty 49
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viii Contents
6 ‘acertainpropensityinhumannature’ 52
Wealthcreation 53
Thedivisionoflabour 54
Extentofthemarket 56
Exchange 59
Tradedbargains 61
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Introduction 68 ect -
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Valueinaprimitivesociety 69 on
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Signsofmuddle 71 ve
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Beclearaboutrudesociety 75 algr
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Constancyofthesubsistencetheoryoflabour 77 a -
Exchangeablevalueinimprovedsocieties 79 strali
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8 ‘atlasttheageofcommercearises’ 81 e,
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Introduction 81 ca
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Naturalandmarketprices 82 Ne
Wages 83 y of
Imperfectmarkets 90 ersit
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9 ‘settingtoworkindustriouspeople’ 96 o
Introduction 96 ed t
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Accumulationofchanges 96 e
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Elementsofcommercialsociety 97 m - li
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Originsofcapitalstock 99 c
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Formsofcapitalstock 102 ne
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Moneyascapital 105 co
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Malignconsequencesofself-interest 108 gra
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10 ‘increasingthefundforproductivehands’ 114 w.
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Introduction 114 m
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ConstituentelementsofpureSmithiangrowth 116 al fr
Necessaryconditionsforgrowth 119 eri
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Productiveandunproductivelabour 120 m
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11 ‘averyviolentattack’ 128 yri
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Introduction 128 C
Mercantilepolicies 129
Restraintsonimports 131
Extraordinaryimportrestraints 135
Mercantilepoliticaleconomyandcolonies 138
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Contents ix
Charteredtradingcompanies 143
Colonialtradeandcapitaldistortions 147
12 ‘aninvisiblehand’ 150
Introduction 150
Smithonmetaphors 153
Theobjectofthemetaphor 154 16
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Theimperativeofnecessity 156 4-0
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Anunguardedconclusion 158 20
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13 ‘peace,easytaxes,andjustice’ 163 n
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Introduction 163 C
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Firstdutyofgovernment 164 gra
Seconddutyofgovernment 166 Pal
Thirddutyofgovernment 167 alia -
Educationandhealth 169 str
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Publicrevenues 172 e,
Governmentfailure 174 astl
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Publicdebts 177 e
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14 AdamSmith’sLegacy 180 sity
Introduction 180 ver
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Theendoflaissez-faire 180 U
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Whataboutthepoor? 190 d t
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Afterword 197 en
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Bibliography 199 ct.
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Index 210 o
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