Adam Smith. A moral philosopher and his political economy

Contents......Page 8
List of Figures and Table......Page 12
Preface......Page 13
Acknowledgements......Page 15
General Introduction: Why Adam Smith?......Page 16
What is Wealth of Nations about?......Page 18
Smith's history of Western Europe......Page 22
Wealth of Nations......Page 24
The shrinking frontier......Page 25
Adam Smith, senior......Page 28
Margaret Douglas Smith......Page 30
Adam Smith's education......Page 31
After Oxford......Page 33
A professor is chosen......Page 34
Did Smith block Hume?......Page 37
Stewart on Smith's common theme......Page 42
Smith's 'market model'......Page 44
Market or exchange model?......Page 46
Early foray into his method......Page 47
Long struggle against superstition......Page 49
Wonder, surprise and admiration......Page 51
Marketplace for morality......Page 52
Exchange and jurisprudence......Page 58
Introduction......Page 62
The looking-glass......Page 63
The impartial spectator......Page 65
Harmonising influences......Page 68
Hobbesian nightmares?......Page 71
‘in the beginning all the world was America’......Page 77
The four ages of mankind......Page 78
Smith's island story......Page 79
Evolution of justice......Page 86
Justice and defence of the 'rich'......Page 89
The interregnum and the fall of the Rome......Page 94
The decline of feudalism......Page 100
Constitutional liberty......Page 105
Why Smith did not complete his third book?......Page 107
6 'a certain propensity in human nature'......Page 113
Wealth creation......Page 114
The division of labour......Page 116
Extent of the market......Page 118
Exchange......Page 122
Traded bargains......Page 124
Bargaining exchanges......Page 127
Introduction......Page 132
Value in a primitive society......Page 133
Signs of muddle......Page 135
‘Had this state continued’......Page 139
Constancy of the subsistence theory of labour......Page 141
Exchangeable value in advanced societies......Page 143
Introduction......Page 146
Natural and market prices......Page 147
Wages......Page 149
Imperfect markets......Page 156
Accumulation of changes......Page 163
Elements of commercial society......Page 165
Origins of capital stock......Page 167
Forms of capital stock......Page 171
Money as capital......Page 174
Malign consequences of self-interest......Page 177
Introduction......Page 183
Lowe's 'Smithian' growth......Page 184
Constituent elements of pure Smithian growth......Page 186
Necessary conditions for growth?......Page 190
Productive and unproductive labour......Page 191
Growth trajectories......Page 199
Introduction......Page 202
Mercantile policies......Page 203
Restraints on imports......Page 205
Extraordinary import restraints......Page 210
Mercantile political economy and colonies......Page 213
Chartered trading companies......Page 218
Colonial trade and capital distortions......Page 222
Introduction......Page 225
The invisible hand in the 'History of Astronomy'......Page 227
Moral Sentiments and the invisible hand......Page 228
The invisible hand in Wealth of Nations......Page 233
Absence of 'invisible hands'......Page 237
Introduction......Page 242
First duty of government......Page 243
Second duty of government......Page 245
Third duty of government......Page 246
Education and health......Page 248
Public revenues......Page 252
Government failure......Page 253
Public debts......Page 256
The end of laissez-faire......Page 260
What about the poor?......Page 270
Afterword......Page 276
Bibliography......Page 280
C......Page 293
D......Page 294
F......Page 295
H......Page 296
L......Page 297
N......Page 298
P......Page 299
S......Page 300
U......Page 301
Z......Page 302