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Adam Smith and Modern Economics

Author

Listed:
  • Edwin G. West

Abstract

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 demonstrates the continuing relevance of his work, two centuries after his death, with special emphasis on the inspiration he has given to economic research during the last two decades. Most notable has been the focus in the 1980s on refutable hypotheses in Smith's writing and the work of testing them with systematic data that were not available in his time. It is shown that even Smith’s central invisible hand theorem is now being translated into a set of falsifiable predictions and that these have withstood important empirical tests in the late 1980s. The book makes an important contribution by demonstrating the continuing relevance of Smith's work to economics in the late 20th century.

Suggested Citation

  • Edwin G. West, 1990. "Adam Smith and Modern Economics," Books, Edward Elgar Publishing, number 466.
    • Handle: RePEc:elg:eebook:466
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    File URL: http://www.e-elgar.com/shop/isbn/9781852783136
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    Citations

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    Cited by:

    1. Elias L. Khalil, 2002. "Is Adam Smith Liberal?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(4), pages 664-664, December.
    2. Nababan, Tongam Sihol, 2011. "Gereja Dan Kesejahteraan Warga Dalam Perspektif Ekonomi Kerakyatan [The Church And The Welfare Of Congregation In The Perspective Of Community Economy]," MPRA Paper 49096, University Library of Munich, Germany.
    3. Jorge Morales Meoqui, 2014. "Reconciling Ricardo's Comparative Advantage with Smith's Productivity Theory," Economic Thought, World Economics Association, vol. 3(2), pages 1-21, September.
    4. Andreas Ortmann & David Baranowski & Benoit Walraevens, 2015. "Schumpeter’s Assessment of Adam Smith and The Wealth of Nations: Why He Got It Wrong," Discussion Papers 2015-28, School of Economics, The University of New South Wales.
    5. Maurício C. Coutinho, 2001. "Adam Smith on public expenditure and taxation," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 11(2), pages 11-30, December.
    6. Bruce Kaufman, 2016. "Adam Smith’s Economics and the Modern Minimum Wage Debate:The Large Distance Separating Kirkcaldy from Chicago," Journal of Labor Research, Springer, vol. 37(1), pages 29-52, March.
    7. John Berdell, 1998. "Adam Smith and the Ambiguity of Nations," Review of Social Economy, Taylor & Francis Journals, vol. 56(2), pages 175-189.
    8. Meyer Wilhelm, 2000. "Der Wohlstand der Nationen und die Moral der Wirtschaftssubjekte," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 51(1), pages 127-168, January.
    9. Carlos Rodríguez Braun, 2021. "Adam Smith’s liberalism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(4), pages 465-478, December.
    10. Scott Drylie, 2020. "Professional Scholarship from 1893 to 2020 on Adam Smith’s Views on School Funding: A Heterodox Examination," Econ Journal Watch, Econ Journal Watch, vol. 17(2), pages 350–391-3, September.
    11. Drylie, Scott, 2021. "Adam Smith on schooling: A classical liberal rereading," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 748-770.
    12. Nur Barizah Abu Bakar & Abdul Rahim Abdul Rahman, 2007. "A Comparative Study of Zakah and Modern Taxation الزكاة والضرائب المعاصرة: دراسة مقارنة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 20(1), pages 25-40, January.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • B0 - Schools of Economic Thought and Methodology - - General

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