Unintended Order and Intervention: Adam Smith's Theory of the Role of the State

@article{Young2005UnintendedOA,
  title={Unintended Order and Intervention: Adam Smith's Theory of the Role of the State},
  author={Jeffrey T. Young},
  journal={History of Political Economy},
  year={2005},
  volume={37},
  pages={91-119}
}
Is it possible to give a coherent account of Smith’s theory of the role of the state in a system of natural liberty? If by “coherent” we mean reducible to a single principle or even slogan such as “laissez-faire,” then the answer, of course, is “No.” Ever since Jacob Viner (1928, 153–54) pointed out at the occasion of the celebration of the sesquicentennial of the publication of the Wealth of Nations (WN) that “Adam Smith was not a doctrinaire advocate of laissez faire,” scholars have come to… 

Adam Smith on Markets and Justice

This paper discusses Adam Smith's views of social justice. It first describes Smith's optimistic view of markets, for example with regard to the absence of negative externalities, which implies that

The difficult relationship between historical ordoliberalism and Adam Smith

Ever since the global financial crisis of 2008, interpreted by some observers as a foreseeable failure of "unfettered" capitalism, the German intellectual tradition of ordoliberalism has been meeting

The classical limits to police power and the economic foundations of the Slaughterhouse dissents

  • N. Giocoli
  • History
    Constitutional Political Economy
  • 2019
The essay examines the influence of classical economics on an important episode in American 19th-century jurisprudence on business regulation, the Slaughterhouse Cases of 1873. It is well known that

The Classical Limits to Police Power: Adam Smith and the Economic Foundations of the Slaughterhouse Dissents

The paper examines the influence of classical economics on an important episode in the American 19th-century jurisprudence on business regulation, the Slaughterhouse Cases of 1873. Law historians

Commutative, Distributive, and Estimative Justice In Adam Smith

In Smith there is something of a contrariety, or double doctrine, on justice: Much of his writing leaves us with the impression that we should use justice and its cognates to mean commutative

Elevating Competition: Classical Political Economy in Justice Peckham’s Jurisprudence

This paper deals with the famous Lochner v. New York (1905) decision from the perspective of the history of economic thought. In »Lochner« the Supreme Court affirmed freedom of contract as a

Adam Smith, Workers’ Rights and the Political Side of the Market

Smith was the first to demonstrate how capitalism had laid its roots not by exploiting the competition mechanism but rather by taking advantage of the congenital frailty of the market, manipulating

‘VALUE IS NOT A FACT’: REPRODUCTION COST AND THE TRANSITION FROM CLASSICAL TO NEOCLASSICAL REGULATION IN GILDED AGE AMERICA

  • N. Giocoli
  • Economics
    Journal of the History of Economic Thought
  • 2018
The paper draws on Stephen Siegel (1984) to argue that, while paving the way for constitutionalizing the free market in Lochner v. New York (1905), the reproduction cost method that the Supreme Court

‘Value is Not a Fact’: Reproduction Cost and the Transition from Classical to Neoclassical Regulation

The paper draws on Siegel (1984) to argue that, while paving the way for constitutionalizing the free market in Lochner v. New York (1905), the reproduction cost method that the Supreme Court

Vanity and Luck in Adam Smith's Economic Growth

What are the causes of prosperity? In addition to the division of labor, saving, capital accumulation, and good institutions, Adam Smith explains opulence through vanity and luck, two variables we

References

SHOWING 1-10 OF 18 REFERENCES

Adam Smith and Laissez Faire

  • J. Viner
  • Economics
    Journal of Political Economy
  • 1927
An endeavor to make a just appraisal of Adam Smith's original contributions to economic doctrine would even today be a task of extraordinary difficulty. On the one hand, what was serviceable in his

The Science of a Legislator: The Natural Jurisprudence of David Hume and Adam Smith

Combining the methods of the modern philosopher with those of the historian of ideas, Knud Haakonssen presents an interpretation of the philosophy of law which Adam Smith developed out of - and

A System of Social Science: Papers Relating to Adam Smith

The second edition of this guide to Adam Smith's system of thought has been fully updated to reflect recent developments in Smith scholarship and Professor Skinner's experience of teaching Smith to a

Adam Smith and the Classics: The Classical Heritage in Adam Smith's Thought

Adam Smith and the Classics analyses the influence of classical culture---the work of Plato, Aristotle, Cicero, and the Stoics---on Adam Smith's thought. Vivenza bases her arguments on elements of

Teachings from the Worldly Philosophy

This is an examination of the writings of the philosophers featured in the author's book "The Worldly philosophers". Heilbroner guides the reader through works culled from the history of economic

Adam Smith's growing concern on the issue of distributive justice

According to the accepted view, Smith carved out distributive justice from his concept of justice and argued that distributive justice would follow in the wake of natural liberty. In recent

Adam Smith and Modern Economics

Adam Smith and Modern Economics provides a lively introduction to some of the very latest economic concepts and debates reinterpreted from the work of the ‘father of economics’. Professor West

The myth of Adam Smith

This book presents a controversial account of the work of Adam Smith, challenging prevailing orthodox thought on Smith’s contribution to economics. It argues that Smith’s fame as an economic analyst

Economics as a Moral Science

This insightful book offers an original approach to the moral philosophy and economics of Adam Smith. The author proposes new ways of linking Smith’s moral theories to his economics, stressing that

Adam Smith and the Virtues of Enlightenment

Cet article rapporte la presentation d'un livre de Charles Griswold, Adam Smith et les vertus du Siecle des Lumieres paru en 1999, lors d'un seminaire qu'il animait, ainsi que la discussion qui a