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Adam Smith: Father of Economics, by Jesse Norman
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Review
"Very readable...[Norman] does a fine job of applying Smith's thinking to a number of such modern challenges. In all, he never loses sight of Smith's implicit injunction to think more broadly than just economics."―Forbes"A wise book accessible to the general reader...You'll want to read Mr. Norman and then Smith if you have any thought at all of getting beyond the clichés of left and right...Engaging, intelligent, educational."―Wall Street Journal "Remarkable and intensely readable.... Norman is a Conservative MP, and the very existence of the book, which draws on his background as a philosopher but also displays wide knowledge of economics and the history of the Enlightenment in 18th-century Edinburgh, is a rejoinder to those who fear that the intellectual has disappeared from politics, along with respect for facts and contact with reality."―Financial Times"In this splendid book, Jesse Norman not only presents an excellent introduction to the life and ideas of Adam Smith, but also explains why - and how - Smith's insights can help us solve some of the most difficult social and economic problems of the contemporary world. Smith loved lucidity and relevance, and I think he would have been very happy with Norman's book."―Amartya Sen, Nobel Laureate in Economics"A worthy addition to the literature surrounding Smith and that of modern conservative thought."―Kirkus Reviews (starred review)"Well-written, well-argued, and intensely thought-provoking.... I hope some of the author's parliamentary colleagues summon up the moral and intellectual strength to read it."―Simon Heffer, Spectator"Norman has written a wonderfully clear account of the life and thought of Adam Smith."―Sunday Times"I can't recommend this biography too highly."―Dan Hannan, Sunday Telegraph"Norman's book...critiques what he calls 'crony capitalism'--a system he believes Adam Smith would have detested.... Accomplished and eloquent."―New Statesman"It is a cause for rejoicing that we live in a country in which a front-line politician like Jesse Norman has the capacity and the energy to write an important work of revisionist biography with a direct and important impact on the intellectual underpinnings of liberal free-market thought. If we want to be well governed, we need to be governed by people who have the capacity not merely to act but also to think--and Jesse Norman, as this book amply demonstrates, is one of those people.... A wide-ranging, beautifully written book."―Oliver Letwin, Telegraph
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About the Author
Jesse Norman, MP, is widely regarded as one of the rising stars of the British House of Commons. A former Parliamentarian of the Year, he was educated at Oxford (BA) and holds a PhD in philosophy from University College London. His previous books include Edmund Burke: The First Conservative.
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Product details
Hardcover: 432 pages
Publisher: Basic Books (September 11, 2018)
Language: English
ISBN-10: 9780465061976
ISBN-13: 978-0465061976
ASIN: 0465061974
Product Dimensions:
6.5 x 1.2 x 9.5 inches
Shipping Weight: 1.5 pounds (View shipping rates and policies)
Average Customer Review:
4.4 out of 5 stars
14 customer reviews
Amazon Best Sellers Rank:
#259,854 in Books (See Top 100 in Books)
Although Adam Smith (1723-1790) is known as the "father of economics," I wanted to read this new biography because he is such a major figure in the Scottish Enlightenment. And even though I avoid economics like the plague, I even managed to learn a bit about this discipline as well. The author follows the same pattern of discussion as he did in his bio of Edmund Burke: first, 156 pages of strictly biographical material, and then two further sections on Smith's thought and the impact of his ideas. This is a lot of ground to cover in even a 334 page book, but the author (a Member of Parliament and Ph.D. in economics) pulls it off with only a few problems.The best thing about the intro biographical section is that the author shows how Smith developed some of his key concepts and the context that gave rise to them. So the reader learns about such key concepts as the "impartial spectator," the "invisible hand," and his theory of moral sentiments by reviewing his writings and activities. This is not as true in the second section on Smith's thought which gets into some of his economic theories as well as the development of economic analysis up to the present. Here the reader is hit with concepts like "general equilibrium theory," "the principle of comparative advantage," and diminishing marginal utility, not in conjunction with Smith's own activities but basically as a lesson in economics. I particularly had trouble with this approach in Chapter 7. By contrast Chapter 8 on Smith and markets (really a key concept for Smith) came through much clearer after a second reading. The final two chapters are basically defenses of Smith against the charge that the nasty elements of contemporary capitalism were his doing as a result of "The Wealth of Nations" (1776), which as the author demonstrates is somewhat ridiculous.A lot of the key figures in the Scottish Enlightenment interact with Smith and make appearances: David Hume; Lord Kames; Dr. Cullen; Gershom Carmichael; and Francis Hutcheson to name a few. I found the author's discussion of Smith's "the science of man" quite interesting, as well as his examination of how the tiny and impoverished Scotland of Smith's day gave rise to this enormous and influential intellectual outburst of the Scottish Enlightenment. So the book has much to offer in that it covers the setting of the Enlightenment, delivers an highly insightful biography of Smith, and also examines some important economic concepts related to Smith and their impact. Much meat on these bones to poke through. The analysis is supported by 37 pages of notes, a nice bibliography, an index and a group of interesting illustrations, some in full color. Whether you are interested in economics, or Smith's life, or the Scottish enlightenment, there is much here to engage you.
Lots of snippets about Smith’s life and friends, but very weak discussions about his two seminal works. The author seems to be trying to dismiss Smith rather than focusing on the influence his writings have had and the number of his ideas that still ring true. Don’t read this book. Read Smith in the original. You will get a much better return on your time.
For the non-academic this is an excellent book of introduction on Adam Smith. Throughout the book the author dismisses many of the misunderstandings regarding his natural philosophy and elaborates many of the myths regarding his economic principles and theories. He directly connects correctly his morals and ethics associated with his political economy.
I decided to read Adam Smith after watching Jesse Norman’s impressive presentation on CSPAN’s Book TV. The first half of the book is a straightforward, chronological biography - Smith'’s life, works, and ideas. The remainder is an analysis of Smith’s writings with an emphasis on refuting misconceptions about his ideas on markets and capitalism and an explanation of the moral basis underpinning his thought. The book continues with a discussion of the current distortions and deviations from Smith’s conception of free markets and capitalism. The concluding chapter, Why it Matters, extols the benefits of a healthy commercial society but is also a powerful warning about its creeping subversion by crony capitalism, political dysfunction, rapid technological change, and evolving (decaying) social norms. Timely, scholarly, and readable, this book is highly recommended.
Well written account of Smith's life and current relevance. Highly recommend
I appreciated knowing more about the man. He was so much morethan the father of economics. His work, along with others pavedthe way for democracy as we know it to function.
EXAMINES SMITH IN A BROADER HISTORICAL CONTEXT. METICULOUSLY RESEARCHED.
Jesse Norman has managed to make the reader comfortable in that period of history when Revolutions were abroad and modern ideologies were being created. His fluency with the atmosphere of Edinburgh, Glasgow and London makes one at home with that lonely Adam Smith who managed to give the world not only the classic understanding of both economics and ethics, but - so importantly - to communicate how well they fit together.
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