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A Comment on Maria Pia Paganelli’s Mistaken Treatment of Adam Smith’s “Four Stages” Theory of Economic Development

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  • Ahiakpor, James C.W.

Abstract

Paganelli (2022) casts doubt on whether Adam Smith argues a “Four Stages” theory or a “stadial model” of socio-economic development; she dismisses the usefulness of cross-section data to evaluate Smith’s theory of the evolution of economies; and she misinterprets several texts in the Wealth of Nations. Disregarding more accurate interpreters of Smith, she invites us to inquire again into the causes of the wealth of nations since Smith, in her judgment, has failed in that effort. But Smith’s Wealth of Nations, carefully read, is an essential guide to policy formulation to promote the efficient development of economies. My comment clarifies.

Suggested Citation

  • Ahiakpor, James C.W., 2023. "A Comment on Maria Pia Paganelli’s Mistaken Treatment of Adam Smith’s “Four Stages” Theory of Economic Development," SocArXiv 9qp43, Center for Open Science.
    • Handle: RePEc:osf:socarx:9qp43
    DOI: 10.31219/osf.io/9qp43
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    References listed on IDEAS

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    1. Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
    2. Meier, Gearld & Rauch, James E., 2005. "Leading Issues in Economic Development," OUP Catalogue, Oxford University Press, edition 8, number 9780195179606.
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