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General Introduction: Why Adam Smith?

In: Adam Smith

Author

Listed:
  • Gavin Kennedy

Abstract

Graduate economists, thoroughly conversant within the neoclassical paradigm and therefore numerate, who read the first few pages of Wealth of Nations confront an entirely different method of political economy to that which their academic training prepares them. If they persist, they find a literary style (no mathematics) that can be irritatingly obscure, seemingly long-winded and occasionally ambiguous, and given to ‘diversions’ of apparently questionable relevance, certainly when compared to the kinds of problems with which they are familiar. It is unlikely that they have an immediate resonance with Adam Smith’s style of discourse. Yet within his books there is much that may enlighten some of their deeper questions, and some they might find disturbing to their mastery of general equilibrium theory. For today’s economists, Smith’s corpus is the veritable and venerable ‘elephant in the room’: how did modern economics develop from such an unpromising source and why is he credited as the ‘Father of Economics’?

Suggested Citation

  • Gavin Kennedy, 2008. "General Introduction: Why Adam Smith?," Great Thinkers in Economics, in: Adam Smith, pages 1-12, Palgrave Macmillan.
  • Handle: RePEc:pal:gtechp:978-0-230-22754-5_1
    DOI: 10.1057/9780230227545_1
    as

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