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Adam Smith: Evolutionary Social Theorist ante litteram

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  • Heinz D. Kurz

    (University of Graz, RESOWI Centre EF)

Abstract

The paper examines evolutionary elements in Adam Smith’s social theory, connecting them to an earlier contribution to natural history by George-Louis Leclerc, Comte de Buffon. It then compares Smith’s analysis with those of Karl Marx and Joseph Schumpeter, who were fascinated by Darwinian evolutionary biology. This comparison demonstrates that while developing evolutionary approaches to the social sciences suitable for their respective subject matter, Marx and Schumpeter drew heavily on Smith’s insights. All three authors aimed to unveil the forces shaping the “process of civilization”, or society’s “law of motion,” along with its associated hazards. They pondered whether this process inherently led to rising living standards, along with “equality, liberty, and justice”, and whether it could derail, ending in a tailspin.

Suggested Citation

  • Heinz D. Kurz, 2024. "Adam Smith: Evolutionary Social Theorist ante litteram," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 41(1), pages 123-152, December.
    • Handle: RePEc:spr:homoec:v:41:y:2024:i:1:d:10.1007_s41412-024-00149-2
    DOI: 10.1007/s41412-024-00149-2
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    References listed on IDEAS

    as
    1. Heinz D. Kurz, 2016. "Adam Smith on markets, competition and violations of natural liberty," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(2), pages 615-638.
    2. Mark Knell, 2024. "Isaac Newton, Robert Simson and Adam Smith," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 41(1), pages 51-66, December.
    3. Heinz Kurz, 2010. "Technical progress, capital accumulation and income distribution in Classical economics: Adam Smith, David Ricardo and Karl Marx," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(5), pages 1183-1222.
    4. Neri Salvadori & Rodolfo Signorino, 2013. "The Classical Notion of Competition Revisited," History of Political Economy, Duke University Press, vol. 45(1), pages 149-175, Spring.
    5. Hodgson, Geoffrey M, 1993. "The Mecca of Alfred Marshall," Economic Journal, Royal Economic Society, vol. 103(417), pages 406-415, March.
    6. Heinz D. Kurz, 2023. "Defence is of Much More Importance than Opulence—Adam Smith on the Political Economy of War," Springer Books, in: Martin A. Leroch & Florian Rupp (ed.), Power and Responsibility, pages 31-43, Springer.
    7. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
    8. Paul J. McNulty, 1968. "Economic Theory and the Meaning of Competition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 82(4), pages 639-656.
    9. Christian Gehrke, 2024. "Corn, Cattle, Land and Labour: Physiocratic Ideas in the Wealth of Nations," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 41(1), pages 67-90, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Circular and cumulative causation; Evolutionary economics; Marx; Karl; Process of civilization; Schumpeter; Joseph; Smith; Adam; Unintended consequences of human action;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects

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