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Adam Smith and Isaac Newton

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  • Redman, Deborah A

Abstract

The commonly held view that Adam Smith patterned economics after Issac Newton's method is examined and dismissed. Both Smith and Newton's methods are explored and compared. Smith's method is shown to have differed significantly from Newton's--in spite of Smith's pronouncements to the contrary--for reasons best explained by considering the Scottish tradition. Finally, the significance of Smith's methodology for modern economics is discussed. Copyright 1993 by Scottish Economic Society.

Suggested Citation

  • Redman, Deborah A, 1993. "Adam Smith and Isaac Newton," Scottish Journal of Political Economy, Scottish Economic Society, vol. 40(2), pages 210-230, May.
    • Handle: RePEc:bla:scotjp:v:40:y:1993:i:2:p:210-30
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    Cited by:

    1. Paganelli, Maria Pia & Simon, Fabrizio & Assistant, JHET, 2020. "Crime and Punishment: Adam Smith’s Theory of Sentimental Law and Economics," OSF Preprints x82yh, Center for Open Science.
    2. Jerry Evensky, 2001. "Adam Smith's Lost Legacy," Southern Economic Journal, John Wiley & Sons, vol. 67(3), pages 497-517, January.
    3. Matthias P. Hühn & Claus Dierksmeier, 2016. "Will the Real A. Smith Please Stand Up!," Journal of Business Ethics, Springer, vol. 136(1), pages 119-132, June.
    4. Erhard Glötzl & Florentin Glötzl & Oliver Richters, 2019. "From constrained optimization to constrained dynamics: extending analogies between economics and mechanics," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(3), pages 623-642, September.
    5. Glötzl, Erhard, 2015. "Why and How to overcome General Equilibrium Theory," MPRA Paper 66265, University Library of Munich, Germany.
    6. Flavia Di Mario & Andrea Micocci, 2017. "Smith’s invisible hand: controversy is needed," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 11(1), pages 53-82, November.
    7. Glötzl, Erhard & Glötzl, Florentin & Richters, Oliver & Binter, Lucas, 2023. "General Constrained Dynamic Models in Economics - General Dynamic Theory of Economic Variables - Beyond Walras and Keynes," MPRA Paper 118314, University Library of Munich, Germany.
    8. Lisa Hill, 2001. "The hidden theology of Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 1-29.
    9. Matthias P. Hühn, 2019. "Adam Smith’s Philosophy of Science: Economics as Moral Imagination," Journal of Business Ethics, Springer, vol. 155(1), pages 1-15, March.
    10. Pilar Piqué, 2019. "The Theory of Moral Sentiments and The Wealth of Nations. Ethics, jurisprudence and political economy throughout the intellectual history of Adam Smith," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 12(2), pages 75-96, May.
    11. David Andrews, 2014. "Adam Smith's Natural Prices, the Gravitation Metaphor, and the Purposes of Nature," Economic Thought, World Economics Association, vol. 3(1), pages 1-42, March.

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