Thursday, April 29, 2010

Has Adam Smith Been Misinterpreted?

Interesting essay in the New Statesman, regarding Adam Smith, titled The economist manifesto, which was penned by Nobel Prize winning ecnomist Amartya Sen.  The preamble to the essay reads as follows.

The 18th-century philosopher Adam Smith wasn’t the free-market fundamentalist he is thought to have been. It’s time we realised the relevance of his ideas to today’s financial crisis.

The preamble leads into a disccusion of the relative importance of Smith’s contributions to the field of economic thought.  Specifically, Sen’s essay delves into whether Smith’s book, The Wealth of Nations, subsumed into ignorance Smith’s first work, The Theory of Moral Sentiments, to the detriment of economic thought today.

Posted by John Venlet on 04/29 at 12:08 PM
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