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Smith at 300: The Lure of Poetry and Profit

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  • Dekker, Erwin

Abstract

Smith at 300: Contribution by Erwin Dekker "It might be true that no one has made a ‘bargain’ in verse as Smith suggested. But new products will be advertised, packaged, and launched in ‘verse’. The eighteenth-century trader speaking precise and pointedly has been supplemented, if not replaced by the designer, the (m)ad man and the PR-manager. They have incorporated what Smith already recognized in his lectures on rhetoric: “The best prose composition, the best oratorical discourse does not affect us half so much [as poetry].” An engineer might believe that economics is about production and the stuff, but Smith knew all along that the economics was a humanistic endeavor, where the fluff cannot be separated from the stuff. In Smith’s humanomics perspective we see a world where traders develop language to interact with each other, where ornaments and elegance create a diversity of goods and services, and where marketing campaigns and inspirational stories entice us to explore the new. Call it ‘the lure of poetry and profit.’ "

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  • Dekker, Erwin, 2023. "Smith at 300: The Lure of Poetry and Profit," SocArXiv mvcdh, Center for Open Science.
    • Handle: RePEc:osf:socarx:mvcdh
    DOI: 10.31219/osf.io/mvcdh
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    1. Lanham, Richard A., 2006. "The Economics of Attention," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226468822.
    2. McCloskey, Donald & Klamer, Arjo, 1995. "One Quarter of GDP Is Persuasion," American Economic Review, American Economic Association, vol. 85(2), pages 191-195, May.
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