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Smith and Economic Liberalism

In: Adam Smith and the Wealth of Nations

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  • Daniel Diatkine

    (University of Paris-Saclay, Univ Evry)

Abstract

This chapter discusses the popular idea according to which Smith is the father of economic liberalism. First, this chapter explores the ambiguities of Laissez-faire. Its first occurrence affirms the idea that exporters must act freely to import precious metals, the only strategic commodities lacking in the country. Secondly, it retraces succinctly the history of the word Liberal and of the expression Economic Liberalism. The word liberal refers to the adversaries of the French Restauration (1815–1830) and the Economic Liberalism is a word used by the opponents to the first socialists, after the 1848 Revolution.

Suggested Citation

  • Daniel Diatkine, 2021. "Smith and Economic Liberalism," Palgrave Studies in the History of Economic Thought, in: Adam Smith and the Wealth of Nations, chapter 0, pages 3-14, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-030-81600-1_1
    DOI: 10.1007/978-3-030-81600-1_1
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