tag:blogger.com,1999:blog-78851924991481176062024-02-08T10:34:20.430-08:00pop goes world -mathsclubs.com : is end poverty # 1 system goal of best maths and faith leaders chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7885192499148117606.post-58607099935738702432016-04-10T10:39:00.003-07:002016-04-10T10:39:55.457-07:00tragic-comic what was known about system quarter millennium ago<br />
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<span style="font-family: GaramondITCbyBT-Book; font-size: 22pt;">Adam Smith:<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 22pt;">Science and Human Nature<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">E</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">MERITUS </span><span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">A</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">DAM </span><span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">S</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">MITH </span><span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">P</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">ROFESSOR<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">A</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">NDREW </span><span style="font-family: GaramondITCbyBT-Book; font-size: 20pt;">S</span><span style="font-family: GaramondITCbyBT-Book; font-size: 14pt;">KINNER</span><span style="font-family: GaramondITCbyBT-Book; font-size: 11.5pt;">1<o:p></o:p></span></div>
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<st1:place><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">University</span></st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;"> of </span><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">Glasgow</span></st1:placename></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;"><o:p></o:p></span></div>
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<st1:place><st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">Glasgow</span></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">, </span><st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">Scotland</span></st1:country-region></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;"><o:p></o:p></span></div>
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<b><span style="font-family: GaramondITCbyBT-Bold; font-size: 9.5pt;">Abstract</span></b><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">: The paper opens with a quotation from Professor Muhammad<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Yunus objecting to the one-dimensional
representation of human<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">nature which is common in modern economics.
The bulk of the paper<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">is concerned with Adam Smith and his system
of social science which<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">consists of three major parts, mainly –
ethics, history and economics.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Implications of Smith’s position on human
nature are indeed multidimensional.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">In conclusion, it is pointed out that Smith’s
separation<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">of ethics, history and economics made it
possible through later<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">generations to regard economics as a separate
autonomous discipline.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">This paved the way for the kind of development
of which Prof Yunus<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">was the critic.<o:p></o:p></span></div>
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<b><span style="font-family: GaramondITCbyBT-Bold; font-size: 9.5pt;">Keywords</span></b><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">: system of social science, human nature, jurisprudence,<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">moral philosophy, economic liberalism,
allocative mechanism<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 5pt;">1 </span><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">Prof Skinner is a Fellow of the </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">British</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">Academy</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">. He has published a number of<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">articles, mainly concerned with 18th century
topics. He has edited Sir James Steuart’s<o:p></o:p></span></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Principles </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">(1966, 1998) and Smith’s </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Wealth of Nations </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">1970, 1999 (Penguin Books).<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">He has co-edited the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Wealth of Nations </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">1975 (with R H Campbell and W B Todd)<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">published by </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;"> at the Clarendon Press. He is the author of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">A System of Social<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Science: Papers Relating to Adam Smith </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">(1979, 1996). The substance of Sections II<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">– VI in this paper has appeared in a number
of locations, most recently in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">The Royal<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Bank of </span></i><st1:country-region><st1:place><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;">Scotland</span></i></st1:place></st1:country-region><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9pt;"> Review </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9pt;">Number 166, June 1990 Pp3-15 </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">25<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">IN a notable passage, </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Nobel Peace Laureate </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Muhammad Yunus once<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">remarked that the economists’ view of ‘human
nature’ was ‘one<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">dimensional’. Yunus contended that ‘People
are not one-dimensional<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">entities; they are exceedingly
multi-dimensional. Their emotions, beliefs,<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">priorities and behaviour patterns can best be
compared to the millions<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of shades we can produce from the three
primary colours.’ (Yunus 2007,<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">p19; cf Pp21 and 290) This article is about
Adam Smith, but it is hoped<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that in expounding the elements of his system
it will be possible to<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">illustrate the point that Smith would have
had every sympathy with<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Professor Yunus’s rejection.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In what follows, Smith’s system will be
expounded in terms of the<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">order of argument which he is known to have
employed as a lecturer;<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">namely, ethics, jurisprudence and economics.
But it will be convenient<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to begin with his treatment and knowledge of
the literature of science.<o:p></o:p></span></div>
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<b><span style="font-family: GaramondITCbyBT-Bold;">Section I: The Literature of Science<o:p></o:p></span></b></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It should be recalled that each separate
component of Smith’s system<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">represents scientific work in the style of </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Newton</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, contributing to a greater<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">whole which was conceived in the same image.
Smith’s scientific<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">aspirations were real, as was his
consciousness of the methodological<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">tensions which may arise in the course of
such work.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s interest in mathematics dates from
his time as a student in<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Glasgow (Stewart, 1.7). He also appears to
have maintained a general<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">interest in the natural and biological
sciences, facts which are attested<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">by his purchases for the University Library
(Scott 1937, p182) and for his<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">own collection (Mizuta 2000). Smith’s ‘Letter
to the Authors of </span><st1:city><st1:place><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Edinburgh</span></i></st1:place></st1:city><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;"><o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Review’</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(1756), where he warned against any undue
preoccupation with<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Scottish literature, affords evidence of wide
reading in the physical<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">sciences, and also contains references to
contemporary work in the<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">French </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Encyclopedie </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as
well as to the productions of Buffon, Daubenton<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and Reaumur. DD Raphael has argued that the
Letter owes much to<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Hume. (TMS, 10, 11)<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The essay on astronomy, which dates from the
same period (it is<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">known to have been written before 1758 and
may well date from the<o:p></o:p></span></div>
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<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> period) indicates that Smith was familiar
with classical as well as<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">with more modern sources, such as Galileo,
Kepler and Tycho Brahe, a<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">salutary reminder that an eighteenth century
philosopher could work<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">close to the frontiers of knowledge in a
number of fields.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">But Smith was also interested in science as a
form of communication,<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">arguing in the LRBL (see Abbreviations) that
the way in which this type<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of discourse is organised should reflect its
purpose as well as a judgement<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as to the psychological characteristics of
the audience to be addressed.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In a Lecture delivered on </span><st1:date day="24" month="1" year="1763"><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">24 January 1763</span></st1:date><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Smith noted that didactic<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">or scientific writing could have one of two
aims: either to ‘lay down a<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">proposition and prove this, by the different
arguments that lead to that<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">conclusion’ or to deliver a system in any
science. In the latter case Smith<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">advocated what he called the Newtonian
method, whereby we ‘lay down<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">certain principles known or proved in the
beginning, from whence we<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">account for the several phenomena, connecting
all together by the same<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Chain’. (LRBL, ii.133) Two points are to be
noted. First, Smith makes it<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">clear that Descartes rather than </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Newton</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> was the first to use this method<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of exposition, even although the former was
now perceived to be the<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">author of ‘one of the most entertaining
Romances that have ever been<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">wrote’. (LRBL, ii.134; Letter 5) Secondly,
his reference to the pleasure to<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">be derived from the ‘Newtonian method’ (LRBL,
ii, 134) draws attention<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to the problem of scientific motivation, a
theme which was to be<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">developed in the ‘Astronomy’ where Smith
considered those principles<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">‘which lead and direct philosophical
enquiry’.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith made extensive use of mechanistic
analogies, sometimes<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">derived from </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Newton</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, seeing in the universe ‘a great machine’
wherein<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">we may observe ‘means adjusted with the
nicest artifice to the ends which<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">they are intended to produce’. (TMS, II.ii.3.5)
In the same way he noted<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that ‘Human society, when we contemplate it
in a certain abstract and<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">philosophical light, appears like a great, an
immense machine’, (TMS,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">VII.ii.1.2) a position which leads quite
naturally to a distinction between<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">efficient and final causes, (TMS, II.ii.3.5)
which is not inconsistent with<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the form of Deism associated with </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Newton</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> himself. It is also striking that<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">so sympathetic a thinker as Smith should have
extended the mechanistic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">analogy to systems of thought.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Systems in many respects resemble machines, a
machine is a little<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">system created to perform, as well as to
connect together, in reality,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">those different movements and effects which
the artist has occasion<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">for. A system is an Imaginary machine
invented to connect together in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">the fancy those different movements and
effects which are already in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">reality performed. (Astronomy, IV.19)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Each part of Smith’s contribution is in
effect an ‘imaginary’ machine<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which conforms closely to his own stated
rules for the organisation of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">scientific discourse. All disclose Smith’s
perception of the ‘beauty of a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">systematical arrangement of different
observations connected by a few<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">common principles’. (WN, V.i.f.25) The whole
reveals much as to Smith’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">drives as a thinker, and throws an important
light on his own marked<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(subjective) preference for system, coherence
and order.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Section II: Ethics, Jurisprudence and Economics<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s teaching from the Chair of Moral
Philosophy (1752-64) was<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">divided into four parts. It is known that he
lectured on natural theology,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">ethics, jurisprudence, and economics in that
order and in a style which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">confirms his debt to his old teacher, Francis
Hutcheson, under whom he<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">studied between 1737 and 1740. It is also
clear that the lectures on ethics<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">formed the basis of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Theory of Moral Sentiments </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(TMS) and that the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">subjects covered in the last part of the
course were further to be developed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of Nations </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(WN).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Adam Smith had a very definite research
programme in mind from<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">an early date; a point to which he made
reference in the concluding<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">passages of the first edition of the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Theory of Moral Sentiments (TMS)</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">. The point<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">was also repeated in the advertisement to the
sixth and last edition of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the work (1790) where Smith indicated that
his two great works were<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">two parts of a plan which he hoped to
complete by giving ‘an account of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the general principles of law and government,
and of the different<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">revolutions which they had undergone in the
different ages and periods<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of society.’<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith did not live to complete his plan
partly as a result of his<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">appointment, in 1778, as Commissioner of
Customs. But the shape of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the study may well be reflected in the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Lectures on Jurisprudence </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(1896,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">1978).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The three parts of Smith’s great plan are
highly systematic; each<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">discloses a debt to contemporary scientific
work especially in the fields<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of biology and Newtonian physics, all are
interdependent.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The TMS, which builds upon the analyses of
Hutcheson and David<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Hume is primarily concerned with the way in
which we form moral<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">judgements. It was also designed to explain
the emergence, by natural<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as district from artificial means, of those
barriers which control our selfregarding<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and un-social passions. The argument gives
prominence to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the emergence of general rules of conduct,
based upon experience, which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">include the rules of law. The analysis also
confirms that accepted standards<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of behaviour are related to environment and
that they may vary in different<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">societies at the same point in time and in a
given society over time.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The lectures on jurisprudence on the other
hand, help to explain<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the emergence of government and its changing
structure in terms of an<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">analysis which features the use of four
distinct types of socio-economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">environment; the celebrated stages of
hunting, pasture, agriculture and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">commerce. Smith’s work on ethics was closely
linked with the economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">analysis which was to follow. For example, if
Smith gave prominence to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the role of self-interest in this context,
auditors of his lecture course and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">readers of the TMS would be aware that the
basic drive to better our<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">condition was subject to a process of moral
scrutiny. It would also be<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">appreciated that economic aspirations had a
social reference in the sense<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that it is chiefly from a regard ‘to the
sentiments of mankind, that we<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">pursue riches and avoid poverty’. (TMS,
I.iii.2.1) Later in the book the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">position was further clarified when Smith
noted that we tend to approve<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the means as well as the ends of ambition:
‘Hence . . . that eminent<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">esteem with which all men naturally regard a
steady perseverance in the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">practice of frugality, industry, and
application’. (TMS, IV.2.8)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The lectures on jurisprudence helped Smith to
specify the nature of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the system of positive law which might be
expected in the stage of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">commerce and also threw some light on the
form of government which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">might conform to it together with the
political pressures to which it may<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">be subject.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The treatment of jurisprudence is also
important in that it helps to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">explain the origins of the modern economy and
the emergence of an<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">institutional structure where all goods and
services command a price. It<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">is in this context that ‘Every man . . .
Lives by exchanging, or becomes in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">some measure a merchant’ (WN,’I.iv.1); a
position which leads to Smith’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">famous judgement that:<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘It is not from the benevolence of the
butcher, the brewer, or the baker<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">that we expect our dinner, but from their
regard to their own interest.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">We address ourselves, not to their humanity
but to their self-love, and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">never talk to them of our own necessities but
of their advantages.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Nobody but a beggar chooses to depend chiefly
upon the benevolence<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">of his fellow Citizens. Even the beggar does
not depend upon it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">entirely.’ (WN, I.ii.2)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Economic Analysis and Economic Liberalism<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">As far as the purely economic analysis is
concerned, it is sufficient to be<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">reminded that in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of Nations </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the theory of price and allocation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">was developed in terms of a model which made
due allowance for distinct<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">factors of production (land, labour, capital)
and for the appropriate forms<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of return (rent, wages, profit). This point,
now so obvious, was an<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">innovation of genius by Smith and permitted
him to develop an analysis<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the allocative mechanism which ran in
terms of inter-related<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">adjustments in both factor and commodity
markets. The resulting version<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of general interdependence also allowed Smith
to move from the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">discussion of ‘micro’ to that of ‘macro’
economic issues, and to develop<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a model of the ‘circular flow’ which relies
heavily on the distinction,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">already established by the contemporary
French economists, between<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">fixed and circulating capital.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">But these terms, which were applied to the
activities of individual<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">undertakers, were transformed in their
meaning by their application to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">society at large. Working in terms of period
analysis where all magnitudes<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">are dated, Smith in effect represented the
working of the economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">process as series of activities and
transactions which linked the main<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">socio-economic groups (proprietors,
capitalists, and wage-labour) and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">productive sectors. In Smith’s terms, current
purchases in effect withdrew<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">consumption and investment goods from the
circulating capital of society;<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">goods which were in turn replaced by virtue
of productive activity in the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">same time period.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">We should note in this context that Smith was
greatly influenced by<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a specific model of the economy which he came
across during a visit to<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Paris</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> in 1766. The model was designed to explain
the operation of an<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">economic system treated as an organism. It
was first produced by Francois<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Quesnay, a medical doctor, and developed by A
R J Turgot. (Meek 1962,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">1973) The significance of the analogy of the
circulation of the blood<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">would not be lost on Smith – and nor would be
the link with William<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Harvey, a distinguished member of the medical
</span><st1:place><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">school</span></st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> of </span><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Padua</span></st1:placename></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> and a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">notable exponent of a methodological approach
which held that ‘the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">way to understand something is to take it
apart, in deed or in thought,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">ascertain the nature of its parts and then
re-assemble it – resolve and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">recompose it.’ (Watkins 1965, p52)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Looked at from one point of view, the
analysis taken as a whole<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">provides one of the most dramatic examples of
the doctrine of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">‘unintended social outcomes’, or the working
of the ‘invisible hand’.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: FuturaBT-Book; font-size: 10pt;">Adam Smith: Science and Human Nature – E</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">MERITUS </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">P</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">ROF
</span><span style="font-family: FuturaBT-Book; font-size: 10pt;">A</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">NDREW </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">S</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">KINNER<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The individual entrepreneur, seeking the most
efficient allocation of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">resources, contributes to overall economic
efficiency; the merchant’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">reaction to price signals helps to ensure
that the allocation of resources<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">accurately reflects the structure of consumer
preferences; the drive to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">better our condition contributes to economic
growth. Looked at from<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">another perspective, the work can be seen to
have resulted in a great<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">conceptual system linking together logically
separate, yet inter-related,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">problems such as price, allocation,
distribution, macro-statics and macrodynamics.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">If such a theory enabled Smith to isolate the
causes of economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">growth with the emphasis now on the supply
side, it was also informed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">throughout by what Terence Hutchison has
described as the ‘powerfully<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">fascinating idea and assumption of beneficent
self-adjustments and selfequilibration’.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(Hutchison 1988, p68)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s prescriptions, with regard to
economic policy, followed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">directly on this analysis. In a system which
depended on the efforts of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">individuals, if it was to function
efficiently, Smith argued that the sovereign<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">should discharge himself from a duty:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘in the attempting to perform which he must
always be exposed to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">innumerable delusions, and for the proper
performance of which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">no‘human wisdom or knowledge could ever be
sufficient, the duty of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">superintending the industry of private
people, and of directing it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">towards the employments most suitable to the
interest of the society.’<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">(WN, IV.ix.51)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In a further passage Smith drew attention to
that ‘security which the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">laws in </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Great Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> give to every man that he shall enjoy the
fruits of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">his own labour’ and attributed the country’s
contemporary performance<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to the fact that the ‘natural effort to every
individual to better his own<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">condition, when suffered to exert itself with
freedom and security, is so<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">powerful a principle, that it is alone, and
without any assistance, not<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">only capable of carrying on the society to
wealth and prosperity, but of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">surmounting a hundred impertinent
obstructions with which the folly<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of human laws too often encumbers its
operations’. (WN,’IV.v.b.43) But<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">within this general frame, Smith’s views on
economic and social policy<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">were often subtle, surprising and
illuminating.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Section III: Mercantilism and </span></b><st1:country-region><st1:place><b><span style="font-family: GaramondITCbyBT-Bold;">America</span></b></st1:place></st1:country-region><b><span style="font-family: GaramondITCbyBT-Bold;"><o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It will come as no surprise to find so much
of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of
Nations<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">devoted to a very violent attack on what
Smith called the mercantile<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">system, ‘a system which was best understood
in our own country and in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">our own times.’ (WN, IV.2) As Smith describes
it, the system was based<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">upon regulation in the interests of a
positive balance of trade. In intention<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">such a policy was restrictive and therefore
liable to that ‘general objection<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which may be made to all the different
expedients of the mercantile<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">system; the objection of forcing some part of
the industry of the country<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">into a channel less advantageous than that in
which it would run of its<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">own accord.’ (WN, IV,v.a.24)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s treatment of the Colonial
relationship with </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">centrepiece of British policy, provides an
interesting and often topical<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">example.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">On Smith’s account, the Regulating Acts of
Trade and Navigation in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">effect confined the American Colonies to
primary products while Great<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> concentrated on more refined manufactures –
with trade carried<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">on in British ships. The net result was a
subtle system of complementary<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">markets which benefited both parties. Smith
perceived, however, that<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the policy was fundamentally flawed in the
sense that the relationship<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">could not in the long-run be sustained.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The problem as Smith saw it lay in the fact
that the rates of growth in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the two countries would be different. Such
differences could be explained<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in a number of ways. As Smith argued, there
were differences in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">institutional arrangements, factor endowments
and in the degree of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">maturity of the two economies. But in
practice he placed most emphasis<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">on the fact that the Regulating Acts would
themselves cause significant<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">variations in performance.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In the case of </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Smith contended that the fact that the
country<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">was confined to primary products created the
optimal conditions for<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">growth in an undeveloped economy. While he
believed that these<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">restrictions were a ‘manifest violation of
one of the most sacred rights of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">mankind’ he also pointed out that the
restrictions were unlikely to be<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">burdensome in the ‘present state of
improvement’ of the colonies. (WN,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">IV.vii.b.44) But in the longer run, the
potential for economic growth in<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> must come into conflict with current policy
and require or force<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a change.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In the case of </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Great Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Smith emphasised that the rate of growth<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">was attributable to </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">’s concentration on manufactured products<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and on the fact that she had become
increasingly dependent on the distant<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">trade with </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> as distinct from developing European links.
But above<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">all else he emphasised the point that the
whole burden of the costs of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">maintaining the Empire fell upon the British
economy with consequent<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">effects on public debt and on the level of
taxation.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s solution was dramatic but entirely
consistent with the general<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">tenor of his critique of the mercantile
system. He recommended that<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> should dismantle the Regulating Acts of
Trade and Navigation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and create a single, gigantic, </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">free trade area </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">– an Atlantic Economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Community. Smith advocated the creation of a
single state with a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">harmonised system of taxation possessing all
the advantages, as he saw<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">them, of a common language and culture.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In passages which remind us of Smith’s
interest in constitutional<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and political issues, he pointed out that
such a solution would require<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Great Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> to admit American deputies to the House of
Commons,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">prompting the thought that:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘in the course of little or more than a
century, perhaps, the produce of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">American might exceed that of British
taxation. The seat of empire<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">would then naturally remove itself to that
part of the empire which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">contributed most to the general defence and
support of the whole’<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">(WN, IV.vii.c.70): </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Philadelphia</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> rather than </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">London</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">.’<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">By 1776 the opportunity, as he saw it, had
been lost and military<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">defeat was the most likely outcome:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘The plan which, if it would be executed,
would certainly tend most to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">the prosperity, to the splendour, and to the
duration of the empire, if<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">you except here and there a solitary
philosopher like myself, seem<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">scarce to have a single advocate.’ (Corr,
382.)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">But even here Smith contemplated the loss of </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> with<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">equanimity, believing as he did that </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Great Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> had opportunities to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">exploit in </span><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Europe</span></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> – and that trade with </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> would resume in due<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">course, provided always that a more liberal
policy was adopted.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Domestic Policy<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s treatment of domestic policy shows
evidence of the same preoccupation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">with an environment which would best release
individual<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">effort and maximise both incentive and
efficiency. For example, he<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">recommended that the statutes of
apprenticeship and the privileges of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">corporations be repealed on the ground that
they adversely affect the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">working of the allocative mechanism. In the
same chapter Smith pointed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to barriers to the movement of labour
represented by the Poor Laws and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Laws of Settlement. (cf WN, I.x.c; IV.ii.42)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s basic objection was to positions of
privilege, such as<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">monopoly powers, as being both unjust and
impolitic; unjust in that a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">position of monopoly is a position of unfair
advantage and impolitic in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that the prices of goods so controlled are
‘upon every occasion the highest<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that can be got’. But at the same time Smith
advocated a series of policies<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">– all catalogued by Jacob Viner (1927) –
which range from government<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">control of the coinage to regulation of
mortgages and the legal<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">enforcement of contracts.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Four broad areas of intervention recommended
by Smith are of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">particular interest, in the sense that they
involve issues of general<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">principle. First, he advised governments
that, where they were faced<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">with taxes imposed by their competitors in
trade, retaliation could be in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">order especially if such an action had the
effect of ensuring the ‘repeal<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the high duties or prohibitions complained
of ’. (cf Winch 1983, p509)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Secondly, Smith advocated the use of
taxation, not simply as a means of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">raising revenue, but as a means of
controlling certain activities, and of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">compensating for what would now be known as a
defective telescopic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">faculty, i.e. a failure to perceive our
long-run interest, (cf WN, V.ii.g.4;<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">V.ii.k.50; V/ii.g.12) commonly now referred
to as ‘short-termism’.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith was also well aware that the modern
version of the ‘circular<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">flow’ depended on paper money and on credit;
in effect a system of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">‘dual circulation’ involving a complex of
transactions linking producers<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and merchants, dealers and consumers; (WN,
II.ii.88) transactions that<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">would involve cash (at the level of the
household) and credit (at the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">level of the firm). It is in this context
that Smith advocated control over<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the rate of interest, set in such a way as to
ensure that ‘sober people are<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">universally preferred, as borrowers, to
prodigals and projectors’. (WN,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">II.iv.15) He was also willing to regulate the
small note issue in the interests<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of a stable banking system.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Although Smith’s monetary analysis is not
regarded as amongst the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: FuturaBT-Book; font-size: 10pt;">Adam Smith: Science and Human Nature – E</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">MERITUS </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">P</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">ROF
</span><span style="font-family: FuturaBT-Book; font-size: 10pt;">A</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">NDREW </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">S</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">KINNER<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">strongest of his contributions, it should be
remembered that he witnessed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the collapse of major banks in the 1770s (may
even have been personally<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a victim of one such) and was acutely aware
of the problems generated<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">by a sophisticated credit structure. It was
in this context that he articulated<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a very general principle, namely, that ‘those
exertions of the natural liberty<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of a few individuals, which might endanger
the security of the whole<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">society, are, and ought to be restrained by
the laws of all governments;<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the most free, as well as of the most
despotical’. (WN, II.ii.94)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Emphasis should be given, finally, to Smith’s
contention that a major<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">responsibility of government must be the
provision of certain public<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">works and institutions for facilitating the
commerce of the society which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">were ‘of such a nature, that the profit could
never repay the expence to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">any individual or small number of
individuals, and which it, therefore,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">cannot be expected that any individual or
small number of individuals<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">should erect or maintain’ (WN,’V,i.c.1). In
short, he was concerned to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">point out that the state would have to
organise services or public works<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which the profit motive alone could not
guarantee.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The examples of public works which Smith
provided include such<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">items as roads, bridges, canals and harbours
– all thoroughly in keeping<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">with the conditions of the time and with
Smith’s emphasis on the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">importance of transport as a contribution to
the effective operation of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the market and to the process of economic
growth.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The theme is continued in his treatment of
another important service,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">namely education; a subject which is
developed in the course of Smith’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">discussion of the social and psychological
costs of economic growth.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Section IV: Education – The Costs of Economic Growth<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It will be recalled that for Smith moral
judgement depends on our capacity<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">for acts of imaginative sympathy and that
such acts can only take place<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">within the context of some social group.
(TMS, III.i.3) However, Smith<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">also observed that these mechanisms might
break down in the context<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the modern economy, due in part to the
size of some manufacturing<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">units and of the cities which housed them.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">If the problems of solitude and isolation
consequent on the growth<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of cities explain Smith’s first group of
points, a related trend in the shape<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the division of labour helps to account
for the second. In discussing<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">this important source of economic benefit
(which is emphasised to an<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">extraordinary degree in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of Nations</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">) Smith noticed that it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">could involve costs. Or, as Smith put it in
one of the most famous passages<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in his major work:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘In the progress of the division of labour,
the employment of the far<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">greater part of those who live by labour,
that is, of the great body of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">people, comes to be confined to a few very
simple operations; frequently<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">to one or two. But the understandings of the
greater part of men are<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">necessarily formed by their ordinary
employments. The man whose whole<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">life is spent in performing a few simple
operations, of which the effects<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">too are, perhaps, always the same or very
nearly the same, has no occasion<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">to exert his understanding, or to exercise
his invention in finding out<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">expedients for removing difficulties which
never occur. He naturally loses,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">therefore, the habit of such exertion, and
generally becomes as stupid<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">and ignorant as it is possible for a human
creature to become.’ (WN,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">V.i.f.50)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It is the fact that the ‘labouring poor, that
is the great body of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">people’ must necessarily fall into the state
outlined that makes it necessary<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">for government to intervene.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s justification for intervention is, as
before, market failure, in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that the labouring poor, unlike those of rank
and fortune, lack the leisure,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">means, or (by virtue of their occupations)
the inclination to provide<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">education for their children. (WN, V.i.f.53)
In view of the nature and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">scale of the problem, Smith’s programme seems
rather limited, but he<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">did argue that the poor could be taught ‘the
most essential parts of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">education. . . to read, write, and account’
together with the ‘elementary<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">parts of geometry and mechanics’. (WN,
V.i.f.54,55)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It is interesting to observe in this context
that Smith was prepared to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">go so far as to infringe the natural liberty
of the subject, at least where<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the latter is narrowly defined, in
recommending that the ‘public can<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">impose upon almost the whole body of the
people the necessity of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">acquiring those most essential parts of
education, by obliging every man<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to undergo an examination or probation in
them before he can obtain<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the freedom in any corporation, or be allowed
to set up any trade either<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in a village or town corporate.’
(WN,V.i.f.57)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Distinct from the above, although connected
with it, is Smith’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">concern with the decline of martial spirit
which is the consequence of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the nature of the fourth, or commercial
stage. In </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of
Nations<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith seems to have had in mind the provision
of some kind of military<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">education which he supported as a
contribution to the well-being of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">individual. (WN, V,i.f.60)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith also sought to encourage an informed ‘middling
rank’ and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">suggested that government should act ‘by
instituting some sort of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">probation, even in the higher and more
difficult sciences, to be undergone<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">by every person before he was permitted to
exercise any liberal<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">profession, or before he could be received as
a candidate for any<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">honourable office of trust or profit.’ (WN,
V.i.g.14)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">The Organisation of Public Services<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith not only identified the various
services which the state was expected<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to provide; he also gave a great deal of
attention to the forms of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">organisation which would be needed to ensure
and to induce efficient<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">delivery.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In the discussion of defence, for example, he
expressed a preference<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">for a standing army to a militia because the
former would be more<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">specialised and therefore more efficient.
(WN, V.i.a.14)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In the case of justice, Smith contended that
the sovereign has the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">duty ‘of protecting, as far as possible,
every member of the society from<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the injustice or oppression of every other
member of it’. (WN,V.i.b.1)<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Here he argued that effective provision of so
central a service depended<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">crucially on a clear separation of the
judicial from the executive power.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(WN, V.i.b.23)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">As Alan Peacock (1975) has pointed out,
Smith’s efficiency criteria<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">are distinguished from this basic issue of
organisation, the argument<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">being, in effect, that the services provided
by attorneys, clerks, or judges<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">should be paid for in such a way as to
encourage productivity. Smith also<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">ascribed the ‘present admirable constitution
of the courts of justice in<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">England</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">’ to the use of a system of court fees which
had served to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">encourage competition between the courts of
King’s of King’s Bench,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Chancery and Exchequer. (WN, V.i.b.20.21)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The theme was continued in the discussion of
public works where<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">he suggested that the main problems to be
addressed were those of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">equity and efficiency.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">With regard to </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">equity, </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith argued that public works such as<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">highways, bridges, and canals should be paid
for by those who use them<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and in proportion to the wear and tear
occasioned. He also defended<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the principle of direct payment on the ground
of efficiency. Only by this<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">means, he argued in a section of powerful
present relevance, would it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">be possible to ensure that services are
provided where there is a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">recognisable need; only in this way would it
be possible to avoid building<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">roads through a desert for the sake of some
private interest; or a great<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">bridge ‘thrown over a river at a place where
nobody passes, or merely to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">embellish the view from the windows of a
neighbouring palace: things<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which sometimes happen, in countries where
works of this kind are<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">carried on by any other revenue than that
which they themselves are<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">capable of affording.’ (WN, V.i.d.6)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith also tirelessly emphasised the point,
already noticed in the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">discussion of justice, namely, that in every
trade and profession ‘the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">exertion of the greater part of those who
exercise it, is always in proportion<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to the necessity they are under of making
that exertion.’ (WN, V.i.f.4)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">On this ground, for example, he approved of the
expedient used in<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">France</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, whereby a construction engineer was made a
present of tolls on<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">a canal for which he had been responsible,
thus ensuring that it was in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">his interest to keep the canal in good
repair.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The ‘incentive’ argument is also eloquently
developed in Smith’s<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">treatment of universities where he argued,
notably in correspondence<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">with his old friend and colleague William
Cullen, that degrees can be<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">likened to the statutes of apprenticeship
(Corr, 177) and protested against<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the idea of universities having a monopoly of
higher education (Corr,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">174) on the ground that this would inhibit
private teachers (eg of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">medicine) such as the Hunters, William Hewson
and Sir William Fordyce.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In particular Smith objected to a situation
where professors enjoyed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">high incomes irrespective of competence or
industry (WN, V.i.f.7): the<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, rather than the </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Glasgow</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> model. In the same context he argued<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in favour of free movement of students
between teachers and institutions<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(WN, V.i.f.12,13) as a means of inducing teachers
to provide appropriate<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">services.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">While it is impossible adequately to do
justice to Smith’s treatment<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of public finance in these few pages, some
general principles do emerge<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which may be of interest to the modern
reader. In general, Smith believed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that the state should ensure that services
are provided indirectly, rather<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">than centrally, that such services should be
self-financing wherever<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">possible and especially that they should be
so ‘structured as to engage<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the motives and interests of those concerned’.
(</span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Rosenberg</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> 1960, 68; cf<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Ricketts 1978) Once again, the fundamental
appeal is to self-love, even if<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith did recognise that many services would
be adequately performed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as much from a sense of moral obligation as
monetary reward.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Section V: </span></b><st1:city><st1:place><b><span style="font-family: GaramondITCbyBT-Bold;">Liberty</span></b></st1:place></st1:city><b><span style="font-family: GaramondITCbyBT-Bold;">, Citizen and State<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Lord Robbins once remarked that Smith
bequeathed to his successors in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the classical school an opposition to
conscious paternalism; a belief that<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">‘central authority was incompetent to decide
on a proper distribution of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">resources’. Above all Smith developed an
important argument to the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">effect that economic freedom ‘rested on a
two-fold basis: belief in the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">desirability of freedom of choice for the
consumer and belief in the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">effectiveness, in meeting this choice, of
freedom on the part of producers’.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(1953, p12) If we add a dynamic dimension to
this theme we have a true<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">reflection of Smith’s position; a position
which helps to explain the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">world’s continuing interest in his work.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Yet even given this, the list of government
functions is, as we have<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">seen, quite impressive. It is also important
to recall the need to distinguish<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">between the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">principles </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which
justify intervention (which may be of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">universal validity) and the specific </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">agenda </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which Smith offered (and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which may reflect his understanding of the
situation which he actually<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">confronted at the time of writing).<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The principles which justify intervention
are, after all, wide-ranging<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in their implications. On Smith’s argument,
the state should regulate<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">activity to compensate for the imperfect
knowledge of individuals; it is<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the state which must continuously scrutinise
the relevance of particular<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">laws and institutions; the state which has a
duty to regulate and control<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the activities of individuals which might
otherwise prove damaging to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the interests of society at large; it is the
state which must make adequate<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">provision for public works and services
(including education) in cases<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">where the profit motive is likely to prove
inadequate. Such basic principles<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">are open to wide application notably in the
circumstances of a modern<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">society.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">It is not difficult to find in Smith a
liberal thinker: what is much more<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">difficult is to determine where a man of his
principles would be found<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">today in the broad spectrum of opinion which
the term embraces. On<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the other hand it is ironically true that
those modern authorities who<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">make use of his work in the context of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">policy </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">may find themselves on<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">stronger ground. Smith did after all insist
that where possible public<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">services should be responsive to need and
that they should be so<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">structured as to induce people to deliver
them efficiently. What is<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">unambiguously true is that Smith sought to
establish an </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">economic<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">environment or environments within which
individual initiative would<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">flourish and by which it would be harnessed.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The last reference serves to remind us that
there is a further dimension<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to his work which is essentially </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">moral </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and which is illustrated by his<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">concern with the social costs of economic
growth. As we have seen, Smith<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">made much of the point that the division of
labour could induce a form<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of mental mutilation; a degree of ‘torpor’
which could render the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">individual ‘incapable of bearing a part in
any rational conversation’ or of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">conceiving ‘any just judgement concerning
many even of the ordinary<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">duties of private life.’ (WN, V.i.f.50)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith identified the possibility that
measurable increases in economic<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">welfare might be offset by the psychological
damage which they entail –<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">unless steps are taken to avoid this outcome
through a programme of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">compulsory education and the cultivation of
the arts. (WN, V.i.g.15)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">The implicit distinction is between negative
and positive freedom<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">where the former may be described as freedom
from restraint and the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">latter as a ‘power of capacity of doing or
enjoying something‘worth doing<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">or enjoying.’ (Green 1906, iii.370-71)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In passages which also recall his wider
interests Smith drew attention<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to the issue of education in a context which
was essentially political. As<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">he put it, an ‘instructed and intelligent
people‘. . . are always more decent<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and orderly than an ignorant and stupid one.
. . They are more disposed<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to examine, and more capable of seeing
through, the interested<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">complaints of faction and sedition.’ (WN,
V.i.f.61)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">This is not idle rhetoric. Smith’s historical
analysis made him well<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">aware of the significance of the form of
Government which had emerged<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Great Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> and sensitive to the fact that such a
Government gave<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">scope to political ambition’– another
competitive game with, as its object,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the ‘prizes which sometimes come from the
wheel of the great state<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">lottery of British politics’.
(WN,’IV.vii.c.75) He also recognised that the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">same economic forces which had raised the
House of Commons to what<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">he called a superior degree of influence (as
compared to the House of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Lords) also made it a focal point for
business and commercial interests.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">He noted that such power could be used to
disadvantage particular<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">groups (cf WN, I.x.c.61) and made the general
point that the legislative<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">proposals emanating from commercial interests.
. .<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘Ought always to be listened to with great
precaution, and ought never<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">to be adopted till after having been long and
carefully examined, not<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">only with the most scrupulous, but with the
most suspicious attention.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">It comes from the order of men, whose
interest is never exactly the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">same with that of the public, who have
generally an interest to deceive<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">and even to oppress the public, and who
accordingly have, upon many<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">occasions, both deceived and oppressed it.’
(WN, I.xi.10)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">As Donald Winch has recently pointed out in
an unpublished paper,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">if Smith emphasised the importance of the
pursuit of self interest within<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the law, he was acutely aware of the problems
presented by the pursuit<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">collective </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">self-interest
and less confident of the result.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In this context he complained that </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">’s policy towards </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">had been dictated by the ‘sneaking arts of
underling tradesmen’ (Section<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">III) and noted, in a passage which may have
caught the attention of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Napoleon, that:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘To found a great empire for the sole purpose
of raising up a people of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">customers, may at first sight appear a
project fit only for a nation of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">shopkeepers. It is, however, a project
altogether unfit for a nation of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">shopkeepers; but extremely fit for a nation
whose government is<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">influenced by shopkeepers.’ (WN, IV.vii.c.63)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In Smith’s view, the tragic (but sustainable)
loss of opportunity in<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">America</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> was to be explained in terms of the
combination of collective<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">self-interest on the part of mercantile
groups and political prejudice on<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the part of the state and its citizens. Smith
thus identified yet another<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">problem of modern relevance: that of
government (as distinct from<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">market) failure.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Section VI: Some Observations<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">J S Mill, the archetypal economist, of a
later period, is known to have<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">remarked that </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of Nations </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">is in many parts obsolete and in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">all, imperfect’. Writing in 1926, Edwin
Cannan observed:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Very little of Adam Smith’s scheme of
economics has been left standing<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">by subsequent enquirers. No one now holds his
theory of value, his<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">account of capital is seen to be hopelessly
confused, and his theory of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">distribution is explained as an ill-assorted
union between his own<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">theory of prices and the Physiocratic
fanciful Economic Table’. (1926,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">123)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">In view of authoritative judgements such as
these, it is perhaps<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">appropriate to ask what elements in his story
should command the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">attention of the modern historian or
economist. A number of points<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">might be suggested.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">First, there is the issue of </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">scope</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">. As we have seen, Smith’s approach<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to the study of political economy was through
the examination of history<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and ethics. The historical analysis is
important in that he set out to explain<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the origins of the commercial stage. The
ethical analysis is important to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the economist because it is here that Smith
identifies the human values<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">which are appropriate to the modern
situation. It is here that we confront<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the emphasis on the desire for status (which
is essentially Veblenesque)<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and the qualities of mind which are necessary
to attain this end: industry,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">frugality, prudence.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">But the TMS also reminds us that the pursuit
of economic ends takes<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">place with a </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">social </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">context, and that men maximise their chances
of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">success by respecting the rights of others.
In Smith’s sense of the term,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">‘prudence’ is essentially rational self-love.
In a famous passage from the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">TMS (II.ii.2.1) Smith noted, with regard to
the competitive individual,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘In the race for wealth, and honours, and
preferments, he may run as<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">hard as he can, and strain every nerve and
muscle, in order to outstrip<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">all his competitors. But if he should justle,
or throw down any of them,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">the indulgence of the spectators is entirely
at an end. It is a violation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">of fair play, which they cannot admit of.’<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s emphasis upon the fact that self-interested
actions take place<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">within a social setting and that men are
motivated (generally) by a desire<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to be approved of by their fellows, raises
some interesting questions of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">continuing relevance. For example, in an
argument which bears upon<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the analysis of the TMS, Smith noted in
effect that the rational individual<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">may be constrained in respect of economic
activity or choices by the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">reaction of the spectator of his conduct – a
much more complex case<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">than that which more modern approaches may
suggest. Smith made much<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the point in his discussion of
Mandeville’s ‘licentious system’ which<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">supported the view that private vices were
public benefits, in suggesting<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that the gratification of desire should be
consistent with observance of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the rules of propriety – as defined by the
spectator, i.e. by an external<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">agency. In an interesting variant on this
theme, Etzioni has recently noted<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that we need to recognise ‘at least two
irreducible sources of valuation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">or utility: pleasure and morality’. (1988,
21-4; cf Oakley 2002)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Secondly, there is a series of issues which
arise from Smith’s interest<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in political economy as a system. The idea of
a single all-embracing<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">conceptual system, whose parts should be
mutually consistent, is not<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">easily attainable in an age where the
division of labour has increased the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">quantity of science through specialisation.
Smith was aware of the division<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of labour in different areas of sciences, and
of the fact that specialisation<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">often led to systems of thought which were
inconsistent with each other.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">(Astronomy, IV, 35, 52, 67) But the division
of labour within a </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">branch </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">science, eg economics, has led to a situation
where sub-branches of a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">single subject may be inconsistent with one
another.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">To take a third point, it may be noted that one
of the most significant<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">features of Smith’s vision of the economic
process lies in the fact that it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">has a significant time dimension. For
example, in dealing with the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">problem of value in exchange, Smith made due
allowance for the fact<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that the process involves judgements with
regard to the utility of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">commodities to be acquired, and the
disutility involved in creasing the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">goods to be exchanged. In the manner of his
predecessors – Hutcheson,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Carmichael and Pufendorf – Smith was aware of
the distinction between<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">utility (and disutility) anticipated and
realised, and, therefore, of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">process of adjustment which would inevitably
take place through time.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s theory of price, which allows for a
wide range of changes in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">taste, is also distinctive in that it allows
for competition </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">among </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and<o:p></o:p></span></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">between </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">buyers and sellers, while presenting the
allocative mechanism<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as one which involves simultaneous and
inter-related adjustments in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">both<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">factor and commodity markets.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">As befits a writer who was concerned to address
the problems of<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">change, and adjustment to change, Smith’s
position was also distinctive<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in that he was not directly concerned with
the phenomenon of<o:p></o:p></span></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">equilibrium</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">. For Smith the (supply) price was, as it
were:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">‘The central price, to which the prices of all
commodities are<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">continually gravitating whatever may be the
obstacles which hinder<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">them from settling in this centre of response
and continuance, they<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">are constantly tending towards it.’ (WN,
I.viii.15)<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">But perhaps the most intriguing feature of
the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">macro </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">model is to be<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">found in the way in which it was linked to
the analytics of Book 1 and in<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the way in which it was specified. As noted
earlier, Smith argued that<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">incomes were generated as a result of
productive activity, thus making it<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">possible for commodities to be withdrawn from
the ‘circulating’ capital<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of society. As he pointed out, the
consumption goods withdrawn from<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">the existing stock may be used up in the
present period, or added to the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">stock reserved for immediate consumption; or
used to replace more<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">durable goods which had reached the end of
their lives in the current<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">period. In a similar manner, entrepreneurs
and merchants may also add<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to their stocks of materials, or to their
holding of fixed capital, while<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">replacing the plant which had reached the end
of its operational life. It<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">is equally obvious that entrepreneurs and
merchants may add to, or<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">reduce their </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">inventories </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in ways which will reflect the changed
patterns<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of demand for consumption and investment
goods, and their past and<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">current levels of production. Variation in
the level of inventories has<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">profound implications for the conventional
theory of the allocative<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">mechanism.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Smith’s emphasis upon the point that
different ‘goods’ have different<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">life-cycles also means that the pattern of
purchase and replacement may<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">vary continuously as the economy moves
through different time periods,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and in ways which reflect the various age
profiles of particular products<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">as well as the pattern of demand for them. If
Smith’s model of the circular<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">flow is to be seen as a spiral, rather than a
circle, it soon becomes evident<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">that this spiral is likely to expand (and
possibly </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">contract</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">) through time<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">at variable rates. This point does not seem
to have attracted much<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">attention.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: GaramondITCbyBT-Bold;">Conclusions<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Mark Blaug has commented on Smith’s
distinctive and sophisticated grasp<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the economic </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">process </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and the need to distinguish this from his<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">contribution to particular </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">areas </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of economic analysis. It has been argued<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">above that Smith’s approach to the study of
political economy has some<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">distinctive features which deserve the
attention of the modern student<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">of the discipline, but which do not seem to
loom large in modern<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">teaching. But nor can it be said that the
classical system which was to<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">follow Smith, adequately addressed his wider
concerns. Indeed, it has<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">been pointed out that the early part of the
nineteenth century saw the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">emergence of political economy as a separate,
autonomous discipline,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">free of the earlier association with ethics
and history. As Terence Hutchison<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">once remarked, Smith was led as if by </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">an invisible hand </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">to promote a<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">result which was no part of the original
intention, thus paving the way<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">for the development which Professor Muhammad
Yunus deplored.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Finally, Adam Smith would have had every
happy feeling over Prof<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Yunus’s untiring engagement in practically
addressing the welfare of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: FuturaBT-Book; font-size: 10pt;">Adam Smith: Science and Human Nature – E</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">MERITUS </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">P</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">ROF
</span><span style="font-family: FuturaBT-Book; font-size: 10pt;">A</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">NDREW </span><span style="font-family: FuturaBT-Book; font-size: 10pt;">S</span><span style="font-family: FuturaBT-Book; font-size: 7pt;">KINNER<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">poorest. As Adam Smith said, ‘What improves
the circumstances of the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">greater part can never be regarded as an inconveniency
to the whole.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">No society can surely be flourishing and
happy, of which by far the greater<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">part of the numbers are poor and miserable.’
(</span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Wealth of
Nations<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">1776) </span><span style="font-family: HoeflerText-Ornaments; font-size: 10.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">Abbreviations<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">References to Smith’s works employ the usages
of the </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Glasgow</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">edition:’WN =’</span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">The Wealth of Nations</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">; TMS = </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Theory of Moral<o:p></o:p></span></i></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Sentiments</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">; Astronomy = ‘The History of Astronomy’;’</span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Essays on<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Philosophical Subjects </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">(EPS); Stewart = Dugald Stewart, ‘Account of<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">the Life and Writings of Adam Smith’; LJ (A)
= </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Lectures on<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Jurisprudence, </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Report dated 1762-63; LRBL = </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Lectures on Rhetoric<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">and Belles Letters</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">; Corr = Correspondence of Adam Smith; EAS =<o:p></o:p></span></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 9.5pt;">Essays on Adam Smith, </span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">ed A S Skinner and T Wilson (1975).<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">In the </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Glasgow</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> edition, WN was edited by R H Campbell, A S
Skinner<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">and W B Todd (1976); TMS by D D Raphael and A
L Macfie (1976);<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Corr, by E C Mossner and I S Ross (1977);
EPS, by W P D Wightman<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">(1980); LJ (A) and LJ (B) by R L Meek, D D
Raphael and P G Stein<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">(1978), and LRBL by J C Bryce (1983), </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Oxford</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">University</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> Press.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">References to LJ and LRBL give volume and
page number from the<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">MS. All other references provide section,
chapter, and paragraph<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">number in order to facilitate the use of
different editions. For example:<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Stewart, I.12 = Dugald Stewart ‘Account’,
Section I, </span><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Para</span></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> 12.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">TMS, I.i.5.5 = TMS, Part I, Section I,
Chapter 5, </span><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Para</span></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> 5.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">WN, V. i.f.26 = WN, Book V, Chapter I,
Section 6, </span><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;">Para</span></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 9.5pt;"> 26.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 13pt;">References<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Etzioni, A (1988): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Moral Dimension: Towards a New
Economics</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">,<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">London</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Macmillan.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Green, T H (1906): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Works</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, R L Nettleship (ed), </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">London</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Haakonssen, K (1980): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The Science of a Legislator: The
Natural<o:p></o:p></span></i></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Jurisprudence of David Hume and Adam
Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Howell, W S (1975): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith’s Lectures on Rhetoric
System, An<o:p></o:p></span></i></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Historical Assessment</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, in EAS.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Hutcheson, T (1988): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Before Adam Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Macfie, A L (1967): ‘The Moral Justification
of Free Enterprise, A Lay<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Sermon on an Adam Smith Text’, First
published in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Scottish Journal<o:p></o:p></span></i></div>
<div class="MsoNormal">
<span style="font-family: FuturaBT-Book; font-size: 10pt;">45<o:p></o:p></span></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">of Political Economy</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Wood, Vol 14, Pp342-50.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Meek, R L (1962): The Economics of
Physiocracy, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">London</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Meek, R L (1973): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Turgot on Progress, Sociology and
Economics</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">,<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Mizuta, H (2000): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith’s Library: A Catalogue</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Oxford Clarendon<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Press.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oakley, A (1994): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Classical Economic Man</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Aldershot</span></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Edward Elgar.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Peacock, A T (1975): ‘The Treatment of the
Principles of Public Finance<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">in the </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Wealth of Nations</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, in Skinner, A S And </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Wilson</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> T (eds) EAS,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Pp553-67.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Pownall, Thomas (1776): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">A Letter from Governor Pownall to Adam
Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">,<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Corr, Appendix A.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Ricketts, M (1978): ‘Adam Smith on Politics
and Economics’ in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">The<o:p></o:p></span></i></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Economics of Politics</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, IEA </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Readings</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, 18.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Robbins, L (1953): ‘The Theory of Economic
Policy’ in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">English Classical<o:p></o:p></span></i></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Political Economy</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">London</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Rosenberg, N (1960): ‘Some Institutional
Aspects of the Wealth of Nations,<o:p></o:p></span></div>
<div class="MsoNormal">
<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Journal of Political Economy</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Vol 18.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Scott, W R (1937): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith as Student and Professor</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Jacksons,<o:p></o:p></span></div>
<div class="MsoNormal">
<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Glasgow</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Sen, A (1987): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">On Ethics and Economics</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Blackwell.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Skinner, A S (1996): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">A System of Social Science: Papers
Relating to Adam<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, 2nd Edition, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Clarendon Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Taylor, W L (1965): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Francis Hutcheson and David Hume as
Predecessors<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">of Adam Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:place><st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Durham</span></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> </span><st1:state><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">NC</span></st1:state></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: </span><st1:place><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University</span></st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> of </span><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">North Carolina</span></st1:placename></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Teichgrabern, R (1987): ‘Less Abused than I
Had Reason to Expect: The<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Reception of the Wealth of Nations in </span><st1:country-region><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Britain</span></st1:place></st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, 1776-1790’, in<o:p></o:p></span></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Historical Journal</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, Vol 30, Pp337-66.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Tribe, K (1988): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Governing Economy: The Reformation of
German<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Economic Discourse</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Viner, J (1928): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith and laissez faire</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, in </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith: 1776-<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">1926</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Chicago</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Chicago</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Vivenza, G (2001): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith and the Classics</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"><o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Werhane, P H (1991): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith and his Legacy for Modern
Capitalism</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">,<o:p></o:p></span></div>
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<st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Oxford</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Winch, D (1978): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Adam Smith’s Politics: An Essay in Historiographic<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Revision</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: </span><st1:place><st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cambridge</span></st1:placename><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> </span><st1:placetype><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">University</span></st1:placetype></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;"> Press.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Winch, D (1994): ‘Nationalism and
Cosmopolitanism’, in M Albertone<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">and A Masoero (ed) </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Political Economy and National
Realities</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:city><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Turin</span></st1:place></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">:<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Fondazione Luigi Einaudi.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Young, J (1997): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Economics as a Moral Science: The
Political Economy<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">of Adam Smith</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:place><st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Cheltenham</span></st1:city><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:country-region><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">UK</span></st1:country-region></st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Edward Elgar.<o:p></o:p></span></div>
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<span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">Yunus, M (2007): </span><i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">Creating a World without Poverty:
Social Business<o:p></o:p></span></i></div>
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<i><span style="font-family: GaramondITCbyBT-BookItalic; font-size: 10.5pt;">and the Future of Capitalism</span></i><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">, </span><st1:state><st1:place><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">New York</span></st1:place></st1:state><span style="font-family: GaramondITCbyBT-Book; font-size: 10.5pt;">: Public Affairs.<o:p></o:p></span></div>
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chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-58966197544305857112016-03-12T06:10:00.001-08:002016-03-12T06:10:36.169-08:00vote for world's greatest conflict resolution systems faciliators<a href="http://mitkiehl.blogspot.com/2015_11_01_archive.html">don beck</a><br />
<a href="http://amychina.net/">harrison owen</a><br />
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and whochris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-72653912837265652492016-03-12T05:11:00.000-08:002016-03-12T06:12:36.021-08:00vote for the world's most human mathematians<a href="http://mitkiehl.blogspot.com/2015_12_01_archive.html">wolfram</a> and whochris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-79660612413897933632016-03-11T22:10:00.000-08:002016-03-17T22:10:28.346-07:00<div data-setdir="false" dir="ltr" id="yui_3_16_0_ym18_1_1458274271270_2324" style="font-family: 'times new roman', 'new york', times, serif; font-size: 16px; padding: 0px;">
<a href="https://www.mja.com.au/journal/2015/202/10/scourge-managerialism-and-royal-australasian-college-physicians" id="yui_3_16_0_ym18_1_1458274271270_2727" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: blue; cursor: text !important; margin: 0px; outline: none; padding: 0px;">https://www.mja.com.au/journal/2015/202/10/scourge-managerialism-and-royal-australasian-college-physicians</a></div>
<div data-setdir="false" dir="ltr" id="yui_3_16_0_ym18_1_1458274271270_2324" style="font-family: 'times new roman', 'new york', times, serif; font-size: 16px; padding: 0px;">
<a href="https://www.youtube.com/watch?v=z9RoLL6SN88" id="yui_3_16_0_ym18_1_1458274271270_2809" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: blue; cursor: text !important; margin: 0px; outline: none; padding: 0px;">Paul Komesaroff</a></div>
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<span class="link-enhancr-element icon icon-shrink link-enhancr-toggle" id="yui_3_16_0_ym18_1_1458274271270_3917" style="background-color: rgba(255, 255, 255, 0.901961); border-radius: 2px; box-shadow: rgba(0, 0, 0, 0.0980392) 0px 1px 1px 0px; cursor: pointer; display: inline-block; font-family: mail; font-size: 16px; height: 32px; line-height: 32px; opacity: 0; padding-right: 0px; position: absolute; right: 48px; speak: none; text-align: center; top: 9px; vertical-align: -18%; width: 32px;"></span><span class="link-enhancr-element icon icon-close link-enhancr-delete" id="yui_3_16_0_ym18_1_1458274271270_3915" style="background-color: rgba(255, 255, 255, 0.901961); border-radius: 2px; box-shadow: rgba(0, 0, 0, 0.0980392) 0px 1px 1px 0px; cursor: pointer; display: inline-block; font-family: mail; font-size: 16px; height: 32px; line-height: 32px; opacity: 0; padding-right: 0px; position: absolute; right: 10px; speak: none; text-align: center; top: 8px; vertical-align: -18%; width: 32px;"></span><a class="link-enhancr-card-urlWrapper link-enhancr-element" href="https://www.youtube.com/watch?v=z9RoLL6SN88" id="yui_3_16_0_ym18_1_1458274271270_3918" style="background: transparent; color: rgb(0, 0, 0) !important; cursor: text !important; display: block; font-size: 18px; line-height: 18px; margin: 0px; outline: none; padding: 0px; text-decoration: none !important;"><span class="link-enhancr-element link-enhancr-card-title" id="yui_3_16_0_ym18_1_1458274271270_5363" style="display: inline-block; line-height: 21px; margin: 0px 0px 3px; max-height: 43px; overflow: hidden !important;">Paul Komesaroff</span></a></div>
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I am interested that mathematician, professor of medicine, peace/ reconciliation connector sans frontieres, and my good friend paul komesaroff since 2003 is involved in the <b id="yui_3_16_0_ym18_1_1458274271270_7521">battle for the future purpose of the Royal Australian College of Medicine</b>.</div>
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I am wondering if there are any ways our youth, supercity, conscientious healthcare and other sustainability movements could help. For example, is there any national institute of health that hasnt lost its way? If so, how could educators and youth urgently learn from it?</div>
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Back in 1984 my father argued that the future value of healthcare could be seen as a litmus test for purposes of all global markets - whether the integenerational investment in a knowledge networked world would lead to sustainability purposes or be big brothered to a very different end game. Dad's deadline for exponential irreversibility was 2025 give or take a few years. Looking at this through the eyes of 2016, i don't now a serious mathematician who would argue we have more time than that.</div>
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To my neighbors in the DC-Maryland region: If we dont address this transformational question while the world bank is led by one of health's for the poorest greatest heroes and Pope Frnacis' friend Jim Kim, i doubt the whole truth realisation of any of the sustainability goals will ever again be integral to American Reality.</div>
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chris macrae bethesda md 240 316 8157 <a href="http://www.mathsclubs.com/" id="yui_3_16_0_ym18_1_1458274271270_4605" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: blue; cursor: text !important; margin: 0px; outline: none; padding: 0px;">pop goes world -mathsclubs.com </a></div>
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i would like to co-blog on what only maths can do for example only 5 maths designs what futures next generations of a place are locked into -at least that was my fa...</div>
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searching mathematician komesaroff</div>
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<a class="" href="https://books.google.com/books?id=N22mLT3ymBQC&pg=PT128&lpg=PT128&dq=komesaroff+mathematician&source=bl&ots=PwHGfBf8-X&sig=Ef7lbIvsEQXWQ-x6dwkB6i0KMZE&hl=en&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ6AEINDAD" id="yui_3_16_0_ym18_1_1458274271270_4119" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Problems Unique to the Holocaust - Google Books Result</a></h3>
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<cite class="" id="yui_3_16_0_ym18_1_1458274271270_4125" style="color: #006621; font-size: 14px; font-style: normal;">https://books.google.com/books?isbn=0813143640</cite></div>
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Harry James Cargas - 2013 - History</div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4129" style="line-height: 1.4; word-wrap: break-word;">Cybernetics is a term coined by <span class="" id="yui_3_16_0_ym18_1_1458274271270_4131" style="color: #6a6a6a; font-weight: bold;">mathematician</span> Norbert Wiener in his 1948 work ... According to <span class="" id="yui_3_16_0_ym18_1_1458274271270_4133" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span>, “The Profound insights of the theory of nature are </span></div>
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<a class="" href="http://www.cems.monash.org/staff/paul-komesaroff.html" id="yui_3_16_0_ym18_1_1458274271270_4000" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Professor Paul Komesaroff (Director)</a></h3>
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<span class="" id="yui_3_16_0_ym18_1_1458274271270_4023" style="line-height: 1.4; word-wrap: break-word;">Paul <span class="" id="yui_3_16_0_ym18_1_1458274271270_4025" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span> is a practising physician and Professor within the Faculty of Medicine at Monash University. He has a PhD in <span class="" id="yui_3_16_0_ym18_1_1458274271270_4027" style="color: #6a6a6a; font-weight: bold;">mathematics</span> from The University ...</span></div>
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<a class="" href="http://philpapers.org/rec/KOMOSA" id="yui_3_16_0_ym18_1_1458274271270_4035" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Paul A. Komesaroff, Objectivity, Science, and Society ...</a></h3>
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by PA Komesaroff - 1986 - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&cites=6798505908567387980" id="yui_3_16_0_ym18_1_1458274271270_4062" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Cited by 8</a> - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&q=related:TK-NkxolWV6DRM:scholar.google.com/" id="yui_3_16_0_ym18_1_1458274271270_4064" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Related articles</a></div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4066" style="line-height: 1.4; word-wrap: break-word;">Learn more about PhilPapers · Paul A. <span class="" id="yui_3_16_0_ym18_1_1458274271270_4068" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span> ... aspects Objectivity. Categories. Husserl: Science, Logic, and <span class="" id="yui_3_16_0_ym18_1_1458274271270_4070" style="color: #6a6a6a; font-weight: bold;">Mathematics</span>, Misc in Continental Philosophy.</span></div>
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<a class="" href="http://philpapers.org/rec/KOMEEA" id="yui_3_16_0_ym18_1_1458274271270_4078" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Paul Komesaroff & Ian Kerridge, Ebola, Ethics, and the ...</a></h3>
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by P Komesaroff - 2014 - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&cites=11042155641497871612" id="yui_3_16_0_ym18_1_1458274271270_4101" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Cited by 4</a> - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&q=related:_GQOVg2ePZnDNM:scholar.google.com/" id="yui_3_16_0_ym18_1_1458274271270_4103" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Related articles</a></div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4105" style="line-height: 1.4; word-wrap: break-word;"><span class="" id="yui_3_16_0_ym18_1_1458274271270_4107" style="color: grey;">Dec 14, 2014 - </span>Paul <span class="" id="yui_3_16_0_ym18_1_1458274271270_4109" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span> & Ian Kerridge .... of language · Philosophy of mind · Philosophy of religion · Science Logic and <span class="" id="yui_3_16_0_ym18_1_1458274271270_4111" style="color: #6a6a6a; font-weight: bold;">Mathematics</span> · More .</span></div>
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<a class="" href="http://www.scirp.org/journal/articles.aspx?searchCode=Paul+A.++Komesaroff&searchField=authors&page=1" id="yui_3_16_0_ym18_1_1458274271270_4141" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Paul A. Komesaroff | Articles | Scientific Research Publishing</a></h3>
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<cite class="" id="yui_3_16_0_ym18_1_1458274271270_4147" style="color: #006621; font-size: 14px; font-style: normal;">www.scirp.org › Journals</cite></div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4149" style="line-height: 1.4; word-wrap: break-word;">Paul A. <span class="" id="yui_3_16_0_ym18_1_1458274271270_4151" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span>. ... Open Journal of Discrete <span class="" id="yui_3_16_0_ym18_1_1458274271270_4153" style="color: #6a6a6a; font-weight: bold;">Mathematics</span> Vol.3 No.4, Pub. Date: October 24, 2013. Paul Feit · Download PDF (310 K) HTML ePub.</span></div>
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<a class="" href="https://books.google.com/books?id=weNQQgFmNGUC&pg=PA70&lpg=PA70&dq=komesaroff+mathematician&source=bl&ots=ZesNqKQIYP&sig=WoQfSVfEZQBUGLVKP44FSyYVCtw&hl=en&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ6AEIOTAF" id="yui_3_16_0_ym18_1_1458274271270_4161" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Sexuality and Medicine: Bodies, Practices, Knowledges</a></h3>
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<cite class="" id="yui_3_16_0_ym18_1_1458274271270_4167" style="color: #006621; font-size: 14px; font-style: normal;">https://books.google.com/books?isbn=1469105942</cite></div>
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<a class="" href="https://www.google.com/search?num=40&tbm=bks&q=inauthor:%22Paul+A.+Komesaroff%22&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ9AgIOjAF" id="yui_3_16_0_ym18_1_1458274271270_4171" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Paul A. Komesaroff</a>, <a class="" href="https://www.google.com/search?num=40&tbm=bks&q=inauthor:%22Philipa+Rothfield%22&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ9AgIOzAF" id="yui_3_16_0_ym18_1_1458274271270_4173" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Philipa Rothfield</a>, <a class="" href="https://www.google.com/search?num=40&tbm=bks&q=inauthor:%22John+Wiltshire%22&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ9AgIPDAF" id="yui_3_16_0_ym18_1_1458274271270_4175" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">John Wiltshire</a> - 2003 - Medical</div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4177" style="line-height: 1.4; word-wrap: break-word;">Bodies, Practices, Knowledges Paul A. <span class="" id="yui_3_16_0_ym18_1_1458274271270_4179" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span>, Philipa Rothfield, John ... In public and scientific uses . . . <span class="" id="yui_3_16_0_ym18_1_1458274271270_4181" style="color: #6a6a6a; font-weight: bold;">mathematics</span> (even more, perhaps, than law) has ...</span></div>
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<h3 class="" id="yui_3_16_0_ym18_1_1458274271270_4187" style="font-size: 18px; font-weight: normal; margin: 0px; overflow: hidden; padding: 0px; text-overflow: ellipsis; white-space: nowrap;">
<a class="" href="http://onlinelibrary.wiley.com/doi/10.1029/JA081i019p03407/abstract" id="yui_3_16_0_ym18_1_1458274271270_4189" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Evidence for the unexpected time‐stable symmetry of the ...</a></h3>
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by MM Komesaroff - 1976 - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&cites=6165713479866168046" id="yui_3_16_0_ym18_1_1458274271270_4207" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Cited by 5</a> - <a class="" href="https://scholar.google.com/scholar?num=40&um=1&ie=UTF-8&lr&q=related:7rJCGr4DkVWC_M:scholar.google.com/" id="yui_3_16_0_ym18_1_1458274271270_4209" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Related articles</a></div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4211" style="line-height: 1.4; word-wrap: break-word;">Abstract. The assumption of axial symmetry provides a first-order approximation to the true magnetospheric configuration of Jupiter out to a few Jovian radii.</span></div>
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<a class="" href="https://books.google.com/books?id=T41IAwAAQBAJ&pg=PT336&lpg=PT336&dq=komesaroff+mathematician&source=bl&ots=bHnMcHcH5J&sig=MFhgFpHeUlaF69AXOnXI05G1UOM&hl=en&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ6AEIRDAH" id="yui_3_16_0_ym18_1_1458274271270_4219" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Objectivity, Science and Society: Interpreting nature and ...</a></h3>
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<cite class="" id="yui_3_16_0_ym18_1_1458274271270_4225" style="color: #006621; font-size: 14px; font-style: normal;">https://books.google.com/books?isbn=1135028419</cite></div>
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<a class="" href="https://www.google.com/search?num=40&tbm=bks&q=inauthor:%22Paul+A+Komesaroff%22&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ9AgIRTAH" id="yui_3_16_0_ym18_1_1458274271270_4229" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Paul A Komesaroff</a> - 2014 - Philosophy</div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4231" style="line-height: 1.4; word-wrap: break-word;">Interpreting nature and society in the age of the crisis of science Paul A <span class="" id="yui_3_16_0_ym18_1_1458274271270_4233" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span>. Jonas, H. ... Kline, M. <span class="" id="yui_3_16_0_ym18_1_1458274271270_4235" style="color: #6a6a6a; font-weight: bold;">Mathematical</span> Thought from Ancient to Modern Times.</span></div>
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<span class="" id="yui_3_16_0_ym18_1_1458274271270_4243" style="color: #1a0dab; cursor: auto; float: left; font-size: xx-small; font-weight: bold; margin: 0px 3px 0px 0px;">[PDF]</span><a class="" href="https://www.racp.edu.au/docs/default-source/pdfs/@016-election-statements/gov-candidate-statements--amd-president-elect-2016.pdf?sfvrsn=4" id="yui_3_16_0_ym18_1_1458274271270_4245" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Candidate Statements - Adult Medicine Division President ...</a></h3>
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Royal Australasian College of Physicians<span class="" id="yui_3_16_0_ym18_1_1458274271270_4270" style="border-color: rgb(170, 170, 170) transparent !important; border-style: solid; border-width: 4px 4px 0px; margin-left: 6px; margin-top: -3px; min-height: 0px; top: 8.33333px; width: 0px;"></span></div>
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<span class="" id="yui_3_16_0_ym18_1_1458274271270_4272" style="line-height: 1.4; word-wrap: break-word;">Professor Paul <span class="" id="yui_3_16_0_ym18_1_1458274271270_4274" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span> BSc (Hons), MBBS, PhD, FRACP. Professor of ... I have a background in philosophy and pure <span class="" id="yui_3_16_0_ym18_1_1458274271270_4276" style="color: #6a6a6a; font-weight: bold;">mathematics</span> and am Director of the.</span></div>
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<a class="" href="https://books.google.com/books?id=NkE1LGCxiR0C&pg=PA237&lpg=PA237&dq=komesaroff+mathematician&source=bl&ots=5VusnK5FU3&sig=fF64U5EkGHOjjGbKBcy53FxaJq0&hl=en&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ6AEITTAJ" id="yui_3_16_0_ym18_1_1458274271270_3989" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #660099; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">The Genocidal Temptation: Auschwitz, Hiroshima, Rwanda, ...</a></h3>
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<cite class="" id="yui_3_16_0_ym18_1_1458274271270_4286" style="color: #006621; font-size: 14px; font-style: normal;">https://books.google.com/books?isbn=0761827439</cite></div>
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<a class="" href="https://www.google.com/search?num=40&tbm=bks&q=inauthor:%22Robert+Seitz+Frey%22&sa=X&ved=0ahUKEwiB-LmBtcnLAhUKRSYKHamLCywQ9AgITjAJ" id="yui_3_16_0_ym18_1_1458274271270_4290" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1a0dab; cursor: pointer; margin: 0px; outline: none; padding: 0px; text-decoration: none;">Robert Seitz Frey</a> - 2004 - History</div>
<span class="" id="yui_3_16_0_ym18_1_1458274271270_4292" style="line-height: 1.4; word-wrap: break-word;">See Paul A. <span class="" id="yui_3_16_0_ym18_1_1458274271270_4294" style="color: #6a6a6a; font-weight: bold;">Komesaroff</span>, Objectivity, Science and Society, p. 6. 17. ... to trace the consequences for society of the rapid expansion of the <span class="" id="yui_3_16_0_ym18_1_1458274271270_4296" style="color: #6a6a6a; font-weight: bold;">mathematical</span> sciences.</span></div>
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chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-18688462294881868962016-03-09T22:12:00.000-08:002016-03-17T22:12:54.486-07:00<br />
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chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-19181067761673236342014-04-29T07:52:00.002-07:002016-03-12T06:01:03.977-08:00world bank live - selection of pro-youth assembliesjim kim <a href="http://normanmacrae.ning.com/forum/attachment/download?id=6339278%3AUploadedFile%3A19317" style="background-color: white; color: #b10613; font-family: 'Lucida Grande', 'Lucida Sans Unicode', sans-serif; font-size: 16px; line-height: 21.272747039794922px; position: static !important; text-decoration: none;"><img alt="2030nowjimkim2transcripts.doc" src="http://static.ning.com/socialnetworkmain/widgets/forum/gfx/fileicons/doc.gif?xn_version=3939154593" style="border: 0px none; font-size: 1em; height: auto; max-width: 737px; position: static !important;" /></a><span style="background-color: white; color: #333333; font-family: "lucida grande" , "lucida sans unicode" , sans-serif; font-size: 16px; line-height: 21.272747039794922px; position: static;"> </span><a href="http://normanmacrae.ning.com/forum/attachment/download?id=6339278%3AUploadedFile%3A19317" style="background-color: white; color: #b10613; font-family: 'Lucida Grande', 'Lucida Sans Unicode', sans-serif; font-size: 16px; line-height: 21.272747039794922px; position: static !important;">2030nowjimkim2transcripts.doc</a><span style="background-color: white; color: #333333; font-family: "lucida grande" , "lucida sans unicode" , sans-serif; font-size: 16px; line-height: 21.272747039794922px; position: static;">, 40 KB <a href="https://www.google.com/search?site=&source=hp&q=%232030now+jobs+poverty&oq=%232030now+jobs+poverty&gs_l=hp.12...4964.14706.0.16651.22.22.0.0.0.0.244.2766.10j8j4.22.0....0...1c.1.42.hp..9.13.1939.0.b9Sg-5T7xr4" style="color: #b10613; font-size: 1em; position: static !important; text-decoration: none;" target="_blank">#2030now</a> the most joyful </span>charters of net gen's 2 social movements: end poverty, twin futire capitals in job creating to be more celebrated world stage than olympics or anything 20th C<br />
<br />
<a href="http://live.worldbank.org/millennials-endpoverty-2030">millenials can</a> web cast world bank spring 2014 next 12 month challenge set by jim kim - every milennial welcome to post soltion at sping 2015 world bank live<br />
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FEATURING</h2>
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<a href="http://live.worldbank.org/experts/dr-jim-yong-kim" style="border: 0px; color: #990000; font-family: inherit; font-size: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">Dr. Jim Yong Kim</a></div>
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President, World Bank Group</div>
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<a href="http://live.worldbank.org/experts/ban-ki-moon" style="border: 0px; color: #990000; font-family: inherit; font-size: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">Ban Ki-moon</a></div>
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Secretary-General of the United Nations</div>
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Co-Founder and CEO, The Global Poverty Project</div>
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Founder, Mara Group and Mara Foundation</div>
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<a href="http://live.worldbank.org/experts/sandhya-rani-kanneganti" style="border: 0px; color: #990000; font-family: inherit; font-size: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">Sandhya Rani Kanneganti</a></div>
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Postmaster General, Andhra Pradesh</div>
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President, MasterCard Center for Inclusive Growth and Vice Chair</div>
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Director & Head, Airtel Money - Africa</div>
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<a href="http://live.worldbank.org/experts/kamal-quadir" style="border: 0px; color: #990000; font-family: inherit; font-size: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">Kamal Quadir</a></div>
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CEO, bKash</div>
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========<br />
<strong style="background-color: white; border: 0px; font-family: Verdana, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Date:</strong><span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;"> Monday, May 5, 2014</span><br />
<strong style="background-color: white; border: 0px; font-family: Verdana, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Time: </strong><span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;">1:45 p.m. - 3:00 p.m. ET </span><br />
<strong style="background-color: white; border: 0px; font-family: Verdana, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Location:</strong><span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;"> World Bank J1-050 & Online </span><br />
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<span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;"><a href="http://live.worldbank.org/finland-education-minister-krista-kiuru">Finland</a> is this decade's shiny icon of classroom success. Since it implemented huge education reforms 40 years ago, Finland's school system has consistently come at the top of international rankings. Finland’s schools are publicly funded, homework is minimal, and compulsory schooling does not begin until age 7. The Finnish system draws teacher candidates from the top 10% of graduates, trains teachers well, and lets them design the curriculum around very lean national standards. What can other countries learn from Finland’s successes, and what challenges should they keep in mind?</span><br />
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<img src="http://live.worldbank.org/sites/default/files/WBLIVE_Tyranny_Debate.jpg" height="140" width="400" />x<br />
<a href="http://live.worldbank.org/tyranny-of-experts">G</a><span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;"><a href="http://live.worldbank.org/tyranny-of-experts">lobal poverty</a> has largely been viewed as a technical problem that merely requires the right expert solutions. Yet all too often, experts recommend solutions that fix immediate problems while ignoring the political oppression that created them in the first place, accidentally colluding with autocrats who violate the rights of the poor. The Tyranny of Experts traces the history of the fight against global poverty, showing how development has long suppressed the vital debate on the individual rights of people in developing countries, the crucial debate on whether unchecked power for dictators is the problem and not the solution.</span><span style="background-color: white; font-family: "verdana" , "helvetica" , "arial" , sans-serif; font-size: 12px; line-height: 18px;"> </span>chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0tag:blogger.com,1999:blog-7885192499148117606.post-22604368776586344552014-01-10T05:44:00.000-08:002014-04-29T07:47:37.646-07:00can you help us survey job creating economics - <a href="http://youthcreativelab.bloogspot.com/">http://youthcreativelab.bloogspot.com </a> -chris.macrae@yahoo.co.uk<br />
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eg 1 which economics moocs - at coursera, edx, khanacademy ... will let student discussion groups segment those aspects of the theory that systemise job creation?<br />
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eg 2 which country's schooling systems make job-creating entrepreneurship as central to a child's education as any other subject?chris macraehttp://www.blogger.com/profile/15269142429457914077noreply@blogger.com0