But Adam Smith was a philosopher as well as well as an economist, famous in his time as much for his Theory of Moral Sentiments as for The Wealth of Nations. And as he understood so well, society is more than the sum of its individual parts.
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Chapter 10, Economics Revisited, p. 212Paul Ormerod
The economic principles of Modern Socialism are a logical deduction from the principle laid down by Adam Smith in the early chapters of his “Wealth of Nations,” — namely, that labor is the true measure of price. But Adam Smith, after stating this principle most clearly and concisely, immediately abandoned all further consideration of it to devote himself to showing what actually does measure price, and how, therefore, wealth is at present distributed. Since his day nearly all the political economists have followed his example by confining their function to the description of society as it is, in its industrial and commercial phases. Socialism, on the contrary, extends its function to the description of society as it should be, and the discovery of the means of making it what it should be.
Benjamin Tucker
Adam Smith’s image of competition in the marketplace was intended as an adjunct to his detailed description of human motivation in The Theory of Moral Sentiments, in which the pursuit of profit is tempered at every juncture by sympathy and benevolence, and by the posture of the “impartial spectator” which is forced on us by our moral nature.
Ted Malloch
There is more of a mystery to the origin of the pin factory that Adam Smith (1776) discusses in his Wealth of Nations than is generally realized.
John Henry Holland
Adam Smith, who has strong claim to being both the Adam and the Smith of systematic economics, was a professor of moral philosophy and it was at that forge that economics was made.
Adam Smith
The greatest of Scotchmen was the first economist, Adam Smith.
Adam Smith
Ormerod, Paul
Orsted, Hans Christian
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