Adam Smith into the Twenty First Century

Adam Smith into the Twenty-First Century examines how Smith’s deliberations on constitutional economics can now be tested by current empirical work in the social sciences. Edwin West shows how Smith’s scepticism about the proposition that democracy is conducive to economic growth is supported by modern research. Current social science is also shown to support Smith’s views that government improves with the expansion of trade and that liberty is strongly associated with growing prosperity. Smith’s argument that personal freedom to act should be allowed providing that the ‘laws of justice’ are not violated is compared with J.S. Mill’s view that liberty should be allowed except where ‘harm to others’ may thereby be prevented.