The Political Economy of Adam Smith

1992 ◽  
pp. 65-85
Author(s):  
Warren J. Samuels
Keyword(s):  
Political Economy ◽  
Adam Smith ◽  
The Political

The Political Economy of Private Investment in Nigeria

1972 ◽  
Vol 10 (1) ◽  
pp. 37-56 ◽  
Author(s):  
R. O. Ekundare
Keyword(s):  
Political Economy ◽  
Public Interest ◽  
Adam Smith ◽  
Private Investment ◽  
The Political ◽  
The Public ◽  
Economic Philosophy

The traditional and basic economic philosophy of private investment is best expressed by Adam Smith: Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command…every individual…endeavours so [to employ his capital]…that its produce may be of the greatest possible value…He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it… By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.1

THE POLITICAL ECONOMY OF INCLUSION: THE RISE AND FALL OF THE WORKHOUSE SYSTEM

2017 ◽  
Vol 39 (4) ◽  
pp. 453-481 ◽  
Author(s):  
Cosma Orsi
Keyword(s):  
Political Economy ◽  
David Hume ◽  
Adam Smith ◽  
Economic Thought ◽  
The Political ◽  
George Berkeley ◽  
Institutional Reforms ◽  
The Social ◽  
Policy Shift ◽  
The Rose

The aim of this article is to describe the rise and fall of the workhouse system in connection with the developments that took place in economic thought in the transition from mercantilism to the Classical tradition. By examining the economic debate about wages, efficiency, labor market, workers’ mobility, and unemployment, we discuss whether the social policy shift epitomized by institutional reforms like the Gilbert Act (1782), the Rose Act (1793), and the Speenhamland system (1795) was accompanied and eventually inspired by a change in the perception of major political economy issues. In doing so, we review the writings of Jacob Vanderlint (d. 1740), George Berkeley (1685–1753), Malachy Postlethwayt (1707?–1767), Josiah Tucker (1713–1799), David Hume (1711–1776), and Adam Smith (1723-1790), among others. Although a direct influence by these writers cannot be proven, the originality of the present work rests on the effort to put into perspective the arguments elaborated by economic thinkers and the proposals made by social reformers so as to identify possible connections between economic theorizing and social legislation.

British India as a Problem in Political Economy: Comparing James Steuart and Adam Smith

2009 ◽  
Author(s):  
Robert Travers
Keyword(s):  
Political Economy ◽  
British Empire ◽  
Adam Smith ◽  
The Political ◽  
British India ◽  
Imperial Expansion ◽  
Imperial Politics ◽  
Indian Affairs ◽  
Distinct Branch ◽  
Conceptual Resources

The consolidation of political economy as a distinct branch of the science of politics was simultaneous with the expansion and diversification of the overseas British Empire. This new political economy was often regarded as distant from the enterprise of imperial expansion. Political economists criticized the mercantile system of restricted colonial trades and monopoly corporations. This chapter discusses the political economy in relation to the imperial politics in India. It takes into focus the problems of imperial politics in India, the first of which was that the East India Company’s growing empire barely fitted into the notions of a British ‘empire of liberty’ which was perceived to be ‘commercial, Protestant, maritime, and free’; and the second was the British ignorance of and lack of sympathy for local customs and manners. In the chapter, the British theorists James Steuart and Adam Smith are closely examined. Both addressed the emerging empire of British India as a dilemma in political economy. Their thinking on Indian affairs posed challenges to the Company rule in India, but at the same time offered theoretical and conceptual resources for the unpopular Company government.

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