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Adam Smith and the “rich country–poor country” debate: eighteenth-century views on economic progress and international trade

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  • Reinhard Schumacher

Abstract

Despite his emphasis on economic development, Adam Smith did not participate in the contemporary “rich country–poor country” debate. Some see the absenteeism as a deficiency, while others assume that Smith propounds a theory of uneven development and agrees with the divergence argument. In this article, Smith's own theory is expounded and related to the contentious points of the “rich country–poor country” debate. It is concluded that Smith's theory does not fit easily into the categories of this debate. He rather takes up a third position, being neither a proponent of pure convergence nor of pure divergence.

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  • Reinhard Schumacher, 2016. "Adam Smith and the “rich country–poor country” debate: eighteenth-century views on economic progress and international trade," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(5), pages 764-793, September.
    • Handle: RePEc:taf:eujhet:v:23:y:2016:i:5:p:764-793
    DOI: 10.1080/09672567.2015.1050046
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    References listed on IDEAS

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    1. Murray N. Rothbard, 1995. "Economic Thought Before Adam Smith," Books, Edward Elgar Publishing, number 377.
    2. Salim Rashid, 1998. "The Myth of Adam Smith," Books, Edward Elgar Publishing, number 1200.
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