Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism - Glory M. Liu
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Originally published in 1776, Adam Smith’s The Wealth of Nations was lauded by America’s founders as a landmark work of Enlightenment thinking. Glory Liu traces how generations of Americans have read, reinterpreted, and weaponized Smith’s ideas, revealing how his popular image as a champion of American-style capitalism and free markets is a historical invention.
Liu tells the story of how an unassuming Scottish philosopher captured the American imagination and played a leading role in shaping American economic and political ideas. She shows how Smith became known as the father of political economy in the nineteenth century and was firmly associated with free trade, and how, in the aftermath of the Great Depression, the Chicago School of Economics transformed him into the preeminent theorist of self-interest and the miracle of free markets. Liu explores how a new generation of political theorists and public intellectuals has sought to recover Smith’s original intentions and restore his reputation as a moral philosopher.
Charting the enduring fascination that this humble philosopher from Scotland has held for American readers over more than two centuries, Adam Smith’s America shows how Smith continues to be a vehicle for articulating perennial moral and political anxieties about modern capitalism.
©2022 Princeton University Press (P)2023 Tantor
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| Creation Date: | Thu, 11 May 2023 06:58:20 +0200 |
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This post has 2 comments with rating of 3/5
May 11th, 2023
Just like Marx, Adam Smith is an important philosopher to read. His ideas have become weaponized, most egregiously by the Adam Smith Institute and Milton Friedman. Smith would be disgusted at the neoliberal economic system of today, as he was a humanist, an egalitarian. Someone who was in favor of intervention when these systems came at the expense of public good. And “at the expense of public good”, has undeniably been the case for the last 40 years due to austerity and other policies that transfer wealth from the working class, upwards. This has ended up causing supremacist movements and Nazi rhetoric to return as the financial elite use one of their favorite and repeatedly proven strategies of “divide and rule”. They misdirect the outrage that is duly theirs to take, onto other sections of the working class. So that they can retain their ever expanding wealth and positions of power. Just like in the 1930s.
This is an important book that should not be missed by those who pay attention to economics and politics.
May 11th, 2023
Thanks. Thatcher was a great admirer of his, which has put me off reading him. This might help me see Smith in a different light.
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