By Leonidas Montes (auth.)
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Extra info for Adam Smith in Context: A Critical Reassessment of Some Central Components of His Thought
Thirty years later, in his classic and seminal ‘Adam Smith and Laissez Faire’, Jacob Viner (1892–1970), not only challenged the traditional view of Smith as a precursor of economic laissez faire, but also revived the inherent discrepancies between the TMS and the WN. Viner complains that the extensive revisions and additions to the TMS did not diminish ‘in any particular the points of conflict between the two books’, even allowing that ‘he was elderly and unwell’ (Viner, 1927, p. 217)41 when he revised it.
37), and in many cases in opposition to the laissez faire favoured by the British economic hegemony, to develop the appropriate commercial policies for successful industrialisation. The 1840s, just after the Zollverein and the railway expansion,19 can be seen as witnessing the industrialising ‘take-off’ of the German states, which was essentially carried out relying upon an agricultural revolution. Then, once Germany had attained, after unification, an increasing level of economic growth, 18 19 Schumpeter (1994 , p.
Moreover, in the twentieth century, up to the publication in 1976 of the Glasgow Edition of the TMS, there is not any edition published in Great Britain, but three in America in 1966, 1969 and 1971 (see Tribe and Mizuta, 2002, pp. 276–308). Ironically it seems that Smith was not quite confident about the WN’s reception. In a letter to his editor, William Strahan, two months before the appearance of the WN’s second edition, Smith was anxious to know ‘Does it sell well? , p. , p. 249). In general, the issue of the WN’s early influence is still controversial.
Adam Smith in Context: A Critical Reassessment of Some Central Components of His Thought by Leonidas Montes (auth.)