Adam Smith’s Lost Legacy

In this accessible book, Gavin Kennedy takes a fresh look at Adam Smith's moral philosophy and its links to his political economy and his lectures on jurisprudence. The book provides a new analysis of Wealth of Nations, and argues that Adam Smith's intellectual legacy was coopted in the nineteenth and twentieth centuries by economists pursuing agendas that Smith did not advocate. It also provides a new explanation for the main mysteries about Smith's later life. Front Matter....Pages i-xvi Front Matter....Pages 1-2 Smith’s Family Background....Pages 3-5 Disease of the Learned....Pages 6-11 His ‘Juvenile Work’....Pages 12-17 Bad Days at Balliol....Pages 18-22 A Game of Great Skill....Pages 23-27 His Strategic Allegiance....Pages 28-31 Professor Smith!....Pages 32-35 Front Matter....Pages 37-38 The Religious Climate....Pages 39-42 On Benevolence....Pages 43-47 A Poem about a Louse....Pages 48-51 The Impartial Spectator....Pages 52-56 The Looking Glass....Pages 57-60 Social Cohesion....Pages 61-65 The Ends of Nature....Pages 66-69 Front Matter....Pages 71-73 Justice as a Negative Virtue....Pages 74-77 Constitutional Monarchy....Pages 78-80 Foundations of Liberty....Pages 81-83 History as Imagination....Pages 84-88 The Four Stages....Pages 89-92 Was He Aware of a Fifth Stage?....Pages 93-94 Front Matter....Pages 95-96 A Linguistic Osmosis....Pages 97-100 Insufficiency of Self-love....Pages 101-103 Self-love and Conditionality....Pages 104-107 Of the Process of Negotiation....Pages 108-111 Of Distracting and Dismal Confusions....Pages 112-114 Of Pins and Things....Pages 115-118 Of Common Coats and Opulence....Pages 119-122 Alienation: Rhetoric or Substance?....Pages 123-126 What Industrial Revolution?....Pages 127-131 Significance of Smith’s ‘Unawareness’?....Pages 132-135 Why Smith ‘Retired’....Pages 136-140 On Laissez Faire....Pages 141-145 The Wonderful World of Adam Smith?....Pages 146-148 In the Absence of Perfect Liberty....Pages 149-151 Monopolists in Product Markets....Pages 152-154 Against the Public Interest....Pages 155-157 The Impartial Competitor....Pages 158-161 The Mercantile System....Pages 162-164 The ‘Invisible Hand’....Pages 165-168 The Ends of Monopoly?....Pages 169-170 Front Matter....Pages 95-96 Smithian Markets....Pages 171-172 Commercial Revival....Pages 173-177 Of the Virtues of Frugality....Pages 178-180 On Market Interference....Pages 181-184 Famous Exceptions to Free Trade....Pages 185-187 Of Strawberries and Buttons....Pages 188-193 Cheerful and Hearty Economics....Pages 194-196 Accumulation and Employment of Stock....Pages 197-199 On Doing More Harm than Good....Pages 200-204 Doom and Gloom?....Pages 205-209 Of Grandchildren and Grandparents....Pages 210-214 A ‘Night Watchman’ State?....Pages 215-218 Smith’s Immodest Proposals for Public Expenditures....Pages 219-223 Education and Health Expenditures....Pages 224-228 Public Revenues....Pages 229-231 Government Failure....Pages 232-234 Reclaiming Smith’s Legacy....Pages 235-240 Back Matter....Pages 249-285 In This Accessible Book, Gavin Kennedy Takes A Fresh Look At Adam Smith's Moral Philosophy And Its Links To His Political Economy And His Lectures On Jurisprudence. The Book Provides A New Analysis Of Wealth Of Nations, And Argues That Adam Smith's Intellectual Legacy Was Completely Transformed In The 19th And 20th Centuries By Economists Pursuing Different Agendas, To Create Ideas And Policies That Smith Did Not Advocate. It Also Provides A New Explanation For The Main Mysteries About Smith's Later Life.--jacket. 1. Smith's Family Background -- 2. Disease Of The Learned -- 3. His 'juvenile Work' -- 4. Bad Days At Balliol -- 5. A Game Of Great Skill -- 6. His Strategic Allegiance -- 7. Professor Smith! -- 8. The Religious Climate -- 9. On Benevolence -- 10. A Poem About A Louse -- 11. The Impartial Spectator -- 12. The Looking Glass -- 13. Social Cohesion -- 14. The Ends Of Nature -- 15. Justice As A Negative Virtue -- 16. Constitutional Monarchy -- 17. Foundations Of Liberty -- 18. History As Imagination -- 19. The Four Stages -- 20. Was He Aware Of A Fifth Stage? -- 21. A Linguistic Osmosis -- 22. Insufficiency Of Self-love -- 23. Self-love And Conditionality -- 24. Of The Process Of Negotiation -- 25. Of Distracting And Dismal Confusions -- 26. Of Pins And Things -- 27. Of Common Coats And Opulence -- 28. Alienation : Rhetoric Or Substance -- 29. What Industrial Revolution? -- 30. Significance Of Smith's 'unawareness' -- 31. Why Smith 'retired' -- 32. On Laissez Faire -- 33. The Wonderful World Of Adam Smith? -- 34. In The Absence Of Perfect Liberty -- 35. Monopolists In Product Markets -- 36. Against The Public Interest -- 37. The Impartial Competitor -- 38. The Mercantile System -- 39. The 'invisible Hand' -- 40. The Ends Of Monopoly? -- 41. Smithian Markets -- 42. Commercial Revival -- 43. On The Virtues Of Frugality -- 44. On Market Interference -- 45. Famous Exceptions To Free Trade -- 46. Of Strawberries And Buttons -- 47. Cheerful And Hearty Economics -- 48. Accumulation And Employment Of Stock -- 49. On Doing More Harm Than Good -- 50. Doom And Gloom? -- 51. Of Grandchildren And Grandparents -- 52. A 'night Watchman' State? -- 53. Smith's Immodest Proposals For Public Expenditures -- 54. Education And Health Expenditures -- 55. Public Revenues -- 56. Government Failure -- 57. Reclaiming Smith's Legacy -- App. Smith's '1755 Paper'. By Gavin Kennedy. Includes Bibliographical References (p. 270-279) And Index. In this accessible book, Gavin Kennedy takes a fresh look at Adam Smith's moral philosophy and its links to his political economy and his lectures on Jurisprudence. The book provides a new analysis of Wealth of Nations , and argues that Adam Smith's intellectual legacy was completely transformed in the Nineteenth and Twentieth centuries by economists pursuing different agendas, to create ideas and policies that Smith did not advocate. It also provides a new explanation for the main mysteries about Smith's later life.