Author(s): Norman, Jesse,
Date of Publication: 04/07/2019,
Pagination: 416 pages,
Imprint: Penguin Books Ltd,
Published By: Penguin Books Ltd,
Book Classification: Biography: historical political & military, Political economy
Against the turbulent backdrop of Enlightenment Scotland, it lays out a succinct and highly engaging account of Smith's life and times, reviews his work as a whole and traces his influence over the past two centuries. But this book is not only a biography. It dispels the myths and debunks the caricatures that have grown up around Adam Smith.
It explores Smith's ideas in detail, from ethics to law to economics and government, and the impact of those ideas on thinkers as diverse as Karl Marx, Charles Darwin, John Maynard Keynes and Friedrich Hayek. Far from being simply an economist, Adam Smith emerges as one of the founders of modern social psychology and behavioural theory. Far from being a doctrinaire 'libertarian' or 'neoliberal' thinker, he offers a strikingly modern evolutionary theory of political economy, which recognises the often complementary roles of markets and the state.
At a time when economics and politics are ever more polarized between left and right, this book, by offering a Smithian analysis of contemporary markets, predatory capitalism and the 2008 financial crash, returns us to first principles and shows how the lost centre of modern public debate can be recreated. Through Smith's work, it addresses crucial issues of inequality, human dignity and exploitation; and it provides a compelling explanation of why he remains central to any attempt to defend, reform or renew the market system.