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Adam Smith’s liberalism

Author

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  • Carlos Rodríguez Braun

    (Universidad Complutense)

Abstract

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 liberal portrayal of Smith. But one thing is to stand aside from extreme viewpoints, and another not to have a clear orientation: the thesis of this article is that Adam Smith was in balance a liberal. To prove it, the interventionist and liberal aspects of Smith are contrasted, and his writings are situated in context to sort out the contradictions, and to define him as a moderate liberal.

Suggested Citation

  • Carlos Rodríguez Braun, 2021. "Adam Smith’s liberalism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(4), pages 465-478, December.
    • Handle: RePEc:kap:revaec:v:34:y:2021:i:4:d:10.1007_s11138-019-00474-9
    DOI: 10.1007/s11138-019-00474-9
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    References listed on IDEAS

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    1. Jacob Viner, 1927. "Adam Smith and Laissez Faire," Journal of Political Economy, University of Chicago Press, vol. 35(2), pages 198-198.
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    More about this item

    Keywords

    Liberalism; Adam Smith; Classical economics;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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