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Adam Smith: Father of Economics
Ebook Download Adam Smith: Father of Economics
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Audible Audiobook
Listening Length: 13 hours and 40 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Hachette Audio
Audible.com Release Date: September 11, 2018
Whispersync for Voice: Ready
Language: English, English
ASIN: B07GT75TR5
Amazon Best Sellers Rank:
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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