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Adam Smith, Market And Social Change: Then And Now, Dominique Bouchet

Markets, Globalization & Development Review

Adam Smith (1723-1790) provided us with a remarkable synthesis of the economic and political ideas of his time and developed a conceptual system to analyze social interactions that mattered for the wealth of nations. He proposed a radically different roadmap for the future development of the society he lived in. The fact that his original analyses were rooted in a given historical context and were founded on a well thought-through conceptual system should not be ignored. The dribs and drabs of Adam Smith ideas that are bandied about, particularly to support ‘free’ market and anti-regulatory policies, are a far cry …