Premium
ADAM SMITH: REVOLUTIONARY FOR THE THIRD MILLENNIUM? 1
Author(s) -
Harris Lord
Publication year - 2002
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2002.tb00358.x
Subject(s) - mercantilism , adam smith , globalization , investment (military) , economics , production (economics) , economic history , neoclassical economics , political economy , market economy , political science , law , politics , macroeconomics
Adam Smith challenged the then prevailing belief in mercantilist control. He presented a picture of an ‘… orderly yet self‐adjusting, dynamic economic system in which rising production, employment, investment and trade were linked spontaneously together by voluntary exchange …’ Present‐day governments and anti‐globalisation protesters could learn a great deal from his writings.