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Is Adam Smith Liberal?

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  • Elias L. Khalil

Abstract

Smith's theory of authority is nonliberal both in the classical liberal sense of Locke and Buchanan and in the social liberal sense of Bentham and Marx. Smith distinguishes civil contract from political contract: While the state protects rights à la civil contract, its differentia specifica is the political contract, which involves authority and allegiance. Allegiance is neither an involuntary act nor the product of choice à la civil contract. Allegiance characterizes the enlistment of low-rank agents in the service of high-rank agents whose station is desired. For Smith, admiration of the powerful is the origin of political order which is a nonliberal view.

Suggested Citation

  • Elias L. Khalil, 2002. "Is Adam Smith Liberal?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(4), pages 664-664, December.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200212)158:4_664:iasl_2.0.tx_2-o
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    References listed on IDEAS

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    1. David A. Reisman, 1998. "Adam Smith on Market and State," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 154(2), pages 357-357, June.
    2. Keith Tribe, 1999. "Adam Smith: Critical Theorist?," Journal of Economic Literature, American Economic Association, vol. 37(2), pages 609-632, June.
    3. Edwin G. West, 1990. "Adam Smith and Modern Economics," Books, Edward Elgar Publishing, number 466.
    4. Spencer J. Pack, 1991. "Capitalism as a Moral System," Books, Edward Elgar Publishing, number 346.
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    Cited by:

    1. B. Nooteboom, 2007. "Transaction Costs, Innovation and Learning," Chapters, in: Horst Hanusch & Andreas Pyka (ed.), Elgar Companion to Neo-Schumpeterian Economics, chapter 63, Edward Elgar Publishing.
    2. Khalil, Elias L., 2011. "The mirror neuron paradox: How far is understanding from mimicking?," Journal of Economic Behavior & Organization, Elsevier, vol. 77(1), pages 86-96, January.
    3. Nooteboom, B., 2005. "Elements of a Cognitive Theory of the Firm," Other publications TiSEM d581c63a-2ff9-402d-ab5f-c, Tilburg University, School of Economics and Management.
    4. Khalil, Elias L., 2017. "Socialized view of man vs. rational choice theory: What does smith’s sympathy have to say?," Journal of Economic Behavior & Organization, Elsevier, vol. 143(C), pages 223-240.
    5. Elias L. Khalil, 2022. "Solving the income-happiness paradox," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 69(3), pages 433-463, September.

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    More about this item

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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