Adam Smith (1723-90) is perhaps best known as one of the first champions of the free market and is widely regarded as the founding father of capitalism. From his ideas about the promise and pitfalls of globalization to his steadfast belief in the preservation of human dignity, his work is as relevant today as it was in the eighteenth century. Here, Ryan Hanley brings together some of the world's finest scholars from across a variety of disciplines to offer new perspectives on Smith's life, thought, and enduring legacy. Contributors provide succinct and accessible discussions of Smith's landmark works and the historical context in which he wrote them, the core concepts of Smith's social vision, and the lasting impact of Smith's ideas in both academia and the broader world. They reveal other sides of Smith beyond the familiar portrayal of him as the author of the invisible hand, emphasizing his deep interests in such fields as rhetoric, ethics, and jurisprudence. Smith emerges not just as a champion of free markets but also as a thinker whose unique perspective encompasses broader commitments to virtue, justice, equality, and freedom.
An essential introduction to Adam Smith's life and work, this incisive and thought-provoking book features contributions from leading figures such as Nicholas Phillipson, Amartya Sen, and John C. Bogle. It demonstrates how Smith's timeless insights speak to contemporary concerns such as growth in the developing world and the future of free trade, and how his influence extends to fields ranging from literature and philosophy to religion and law.
Ryan Patrick Hanley holds the Mellon Distinguished Professorship in Political Science at Marquette University. He is the author of Adam Smith and the Character of Virtue and the editor of the Penguin Classics edition of Adam Smith's The Theory of Moral Sentiments.
Preface ix Abbreviations x i i i Notes on Contributors xv I . INTRODUCTION: TEXTS AND CONTEXT 1. THE BIOGRAPHY OF ADAM SMITH James Buchan 3 2. THE LECTURES ON RHETORIC AND BELLES LETTRES Vivienne Brown 17 3. THE THEORY OF MORAL SENTIMENTS Eric Schliesser 33 4. THE LECTURES ON JURISPRUDENCE Knud Haakonssen 48 5. THE WEALTH OF NATIONS Jerry Evensky 67 6. THE ESSAYS ON PHILOSOPHICAL SUBJECTS Craig Smith 89 7. SMITH AND THE SCOTTISH ENLIGHTENMENT Nicholas Phillipson 105 II. SMITH'S SOCIAL VISION 8. ADAM SMITH ON LIVING A LIFE Ryan Patrick Hanley 123 9. ADAM SMITH: SELF-INTEREST AND THE VIRTUES Leonidas Montes 138 10. ADAM SMITH ON EQUALITY Elizabeth Anderson 157 11. ADAM SMITH ON JUSTICE AND INJUSTICE Nicholas Wolterstorff 173 12. ADAM SMITH AND THE SYMPATHETIC IMAGINATION Remy Debes 192 13. ADAM SMITH ON FREEDOM David Schmidtz 208 III. SMITH AND ECONOMICS 14. ADAM SMITH AND MODERN ECONOMICS Agnar Sandmo 231 15. ADAM SMITH AND THE HISTORY OF ECONOMIC THOUGHT: THE CASE OF BANKING Maria Pia Paganelli 247 16. ADAM SMITH AND EXPERIMENTAL ECONOMICS: SENTIMENTS TO WEALTH Vernon L. Smith 262 17. ADAM SMITH AND ECONOMIC DEVELOPMENT Amartya Sen 281 IV. SMITH BEYOND ECONOMICS 18. ADAM SMITH AND RELIGION Gordon Graham 305 19. ADAM SMITH AND POLITICAL THEORY Lisa Hill 321 20. ADAM SMITH AND MODERN ETHICS Lisa Herzog 340 21. ADAM SMITH AND FEMINIST ETHICS: SYMPATHY, RESENTMENT, AND SOLIDARITY Jacqueline Taylor 354 22. ADAM SMITH'S JURISPRUDENCE: RESENTMENT, PUNISHMENT, JUSTICE Chad Flanders 371 23. ADAM SMITH AND RHETORIC Stephen McKenna 387 24. ADAM SMITH'S NARRATIVE LINE Karen Valihora 405 25. ADAM SMITH AND THE HISTORY OF PHILOSOPHY Michael Biziou 422 26. ADAM SMITH AND ENLIGHTENMENT STUDIES Fredrik Albritton Jonsson 443 V. SMITH BEYOND THE ACADEMY 27. ADAM SMITH: SOME POPULAR USES AND ABUSES Gavin Kennedy 461 28. ADAM SMITH AND THE LEFT Samuel Fleischacker 478 29. ADAM SMITH AND THE RIGHT James R. Otteson 494 30. ADAM SMITH IN CHINA: FROM IDEOLOGY TO ACADEMIA Luo Wei-Dong 512 31. ADAM SMITH AND SHAREHOLDER CAPITALISM John C. Bogle 525 32. ADAM SMITH AND FREE TRADE Douglas A. Irwin 542 Index 559