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In the News (Tue 22 Dec 09)

  
  Adam Smith   (Site not responding. Last check: 2007-11-02)
Adam Smith (1723-1790) was a Scottish economist and philosopher.
Smith was the son of the comptroller of the customs at Kirkcaldy, Fife, Scotland.
In 1751 Smith was appointed professor of logic at the University of Glasgow, transferring in 1752 to the chair of moral philosophy.
usapedia.com /a/adam-smith.html   (749 words)

  
 Adam Smith (1723-1790).
Adam's father, who had died before Adam's birth, was a "comptroller of customs." In 1740, at the age of seventeen, Smith was sent off to Oxford on scholarship.
Smith lead a quiet and sheltered life; he lived with his mother (she lived to be ninety) and remained a bachelor all his life.
Adam Smith's approach to his work was first to do a historical study of his subject, and then to advance the area, often building on the work of his contemporaries: he was well aware of the work done by Montesquieu and the French Physiocrats.
www.blupete.com /Literature/Biographies/Philosophy/Smith.htm   (3465 words)

  
 Adam Smith - Wikipedia, the free encyclopedia   (Site not responding. Last check: 2007-11-02)
Adam Smith (Baptised June 5, 1723 – July 17, 1790) was a Scottish political economist and moral philosopher.
Smith was the son of the controller of the customs at Kirkcaldy, Fife, Scotland.
At the end of 1763 Smith obtained a lucrative post as tutor to the young Duke of Buccleuch and resigned his professorship.
www.bucyrus.us /project/wikipedia/index.php/Adam_Smith   (1683 words)

  
 Adam Smith's Economics of Freedom   (Site not responding. Last check: 2007-11-02)
Smith set forth two linked and indispensable conditions to be met if the economic system he described were to work: There must be free movement for all in the system so that each man might seek the best opportunity for his labor or resources.
Smith railed at the dense thicket of government regulations and restrictions of his time, which he saw as preventing the fluid and free movement of men and capital throughout the economy that was necessary for prosperity and growth.
Smith knew, of course, that his ideal of the invisible hand operating in a completely free, purely competitive market economy was never a very realistic picture of an economy in the real world.
www.libertyhaven.com /theoreticalorphilosophicalissues/earlyclassicalliberalism/adameco.shtml   (2660 words)

  
 Adam Smith   (Site not responding. Last check: 2007-11-02)
Adam Smith (1723 - July 17, 1790) was a Scottish economist and philosopher.
Smith now began to give more attention to jurisprudence and economics in his lecture and less to his theories of morals.
He fulfils, however, all the rules of what is peculiarly called justice, and does every thing which his equals can with propriety force him to do, or which they can punish him for not doing.
www.1-free-software.com /en/wikipedia/a/ad/adam_smith.html   (1905 words)

  
 The Betrayal of Adam Smith   (Site not responding. Last check: 2007-11-02)
It is ironic that corporate libertarians regularly pay homage to Adam Smith as their intellectual patron saint, since it is obvious to even the most casual reader of his epic work The Wealth of Nations that Smith would have vigorously opposed most of their claims and policy positions.
Smith, on the other hand, opposed any form of economic concentration on the ground that it distorts the market's natural ability to establish a price that provides a fair return on land, labor, and capital; to produce a satisfactory outcome for both buyers and sellers; and to optimally allocate society's resources.
Adam Smith was as acutely aware of issues of power and class as he was of the dynamics of competitive markets.
www.pcdf.org /corprule/betrayal.htm   (1869 words)

  
 [No title]
Smith's Birth till the Publication of the Theory of Moral Sentiments Adam Smith, author of the Inquiry into the Nature and Causes of the Wealth of Nations, was the son of Adam Smith, comptroller of the customs at Kirkaldy,(1*) and of Margaret Douglas, daughter of Mr Douglas of Strathenry.
This rule preserves its authority with him, checks the impetuosity of his passion, and corrects the partial views which self-love suggests; although, if this had been the first time in which he considered such an action, he would undoubtedly have determined it to be just and proper, and what every impartial spectator would approve of.
In Mr Smith's writings, whatever be the nature of his subject, he seldom misses an opportunity of indulging his curiosity, in tracing from the principles of human nature, or from the circumstances of society, the origin of the opinions and the institutions which he describes.
www.ecn.bris.ac.uk /het/smith/dugald   (11662 words)

  
 FRB: Speech, Greenspan—Adam Smith—February 6, 2005
Smith lived at a time when market forces were beginning to erode the rigidities of the remaining feudal and medieval practices and the mercantilism that followed them.
Smith, on remarkably little formal empirical evidence, drew broad inferences about the nature of commercial organization and institutions that led to a set of principles that would profoundly influence and alter a significant segment of the civilized world of that time.
Adam Smith's purview was broader: He sought in his Theory of Moral Sentiments, published nearly two decades before the Wealth of Nations, to delve into the roots of human motivation and interaction.
www.federalreserve.gov /boarddocs/speeches/2005/20050206   (3741 words)

  
 ADAM SMITH: MORAL SENTIMENTS
Adam Smith was born in Kirkcaldy, Scotland, in 1723 (Source on Smith's life: E G West, Adam Smith).
Adam Smith wrote to a friend: 'It will be his own fault if anyone should endanger his health at Oxford by excessive study, our only business here being to go to prayers twice a day and to lecture twice a week' (quoted West, p.45).
This is the status of general rules in Smith's theory: they are generalisations based upon our attempts to sympathise with particular actions: 'They are ultimately founded upon experience of what, in particular instances, our moral faculties, our natural sense of merit and propriety, approve or disapprove of.
www.humanities.mq.edu.au /Ockham/y64l01.html   (3473 words)

  
 ADAM SMITH FACTS AND INFORMATION   (Site not responding. Last check: 2007-11-02)
Adam Smith, FRS (Baptised June_5, 1723 – July_17, 1790) was a Scottish political economist and moral philosopher.
Smith believed that while human motives are often selfish and greedy, the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services.
Smith was ranked #30 in Michael_H._Hart's list of the most influential figures in history.
www.19gmarketinggroup.com /Adam_Smith   (1694 words)

  
 Adam Smith and the Invisible Hand   (Site not responding. Last check: 2007-11-02)
Smith had made a name for himself with an earlier volume entitled Theory of the Moral Sentiments, published in 1759, but he is now remembered mainly for his Wealth of Nations, on which he labored for ten years.
Adam Smith's book was warmly received here, not only because it was a great work of literature, but also because it provided a philosophical justification for individual freedom in the areas of manufacture and trade.
Smith was a professor of Moral Philosophy at the University of Glasgow, where he lectured on ethics, rhetoric, jurisprudence, and political economy.
www.libertyhaven.com /thinkers/adamsmith/adamhand.html   (3303 words)

  
 The Betrayal of Adam Smith
Adam Smith made quite explicit in The Wealth of Nations his assumption that capital would be rooted in place in the locality where its owner lived.
Smith was also quite explicit that optimal market efficiency depends on the owners of capital being directly involved in its management—the owner managed enterprise.
Thus Smith's vision of an efficient market was one comprised of small, owner-managed enterprises located in the communities in which the owners reside, share in the community's values, and have a personal stake in its future.
deoxy.org /korten_betrayal.htm   (2068 words)

  
 Adam Smith, anti-business economist.   (Site not responding. Last check: 2007-11-02)
Smith concluded his chapter on profits with the comment: "Our merchants and master manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad.
At the root of Smith's conspiracy theory is the tension that has always existed between economists and businessmen, a tension accentuated by the fact that governments and journalists have tended to listen to businessmen as if they were economists.
Smith, the son of a customs official, was a professional philosopher, who, in his later years, also became a customs official.
keithrankin.co.nz /ASmith_box.html   (642 words)

  
 Adam Smith | Economist and Philosopher
Adam Smith was born in Kirkcaldy, Fife, Scotland.
Smith was the Scottish political economist and philosopher, who became famous for his influential book "The Wealth of Nations" written in 1776.
Smith moved to London in 1776, where he published "An Inquiry into the Nature and Causes of the Wealth of Nations," which examined in detail the consequences of economic freedom.
www.lucidcafe.com /library/96jun/smith.html   (658 words)

  
 Adam Smith Institute Blog - The Beckham Rule of Welfare   (Site not responding. Last check: 2007-11-02)
They probably felt they were writing rules which were the footballing equivalent of 'social justice' - a fair amount of punishment for a particular amount of crime.
All would be just as good, regardless of a wholeseale change in the rules of play which resulted from changing from an independent, part commercial, part charitable structure to a state-owned structure.
Adam Smith was the great Scottish philosopher and economist best known for "The Wealth of Nations", his pioneering book on free trade and market economics.
www.adamsmith.org /blog/archives/000788.php   (886 words)

  
 THE INTERTEMPORAL ADAM SMITH
Smith saw his intertemporal bias as "entirely different" from the interspatial bias of the Mercantilists, but his economics of time is closely analogous to their economics of space.
Smith's distinction between productive and unproductive labor is to be linked not to his journey to France, as some have believed, but to his upbringing in Scotland.
While Smith relied on the impartial spectator and the other-worldly perspective that construction entails, Friedman relies on the broad consensus of economists.
www.auburn.edu /~garriro/d7smith.htm   (4326 words)

  
 Adam Smith
Adam Smith's chief contribution was to build a coherent and logical theory of how the economy works.
Smith's theory of wages was a form of the Iron Law of Wages which held that wages are by and large equal to the subsistence level of wages.
Smith was suspicious of businessmen and believed that, given the chance, they would do anything reduce competition among themselves and then form a group to gang up on consumers and charge them more than the competitive price.
phoenix.liu.edu /~uroy/eco54/histlist/smith/smith.htm   (1343 words)

  
 The Theory of Moral Sentiments by Adam Smith 3
When these general rules, indeed, have been formed, when they are universally acknowledged and established, by the concurring sentiments of mankind, we frequently appeal to them as to the standards of judgment, in debating concerning the degree of praise or blame that is due to certain actions of a complicated and dubious nature.
The regard to those general rules of conduct, is what is properly called a sense of duty, a principle of the greatest consequence in human life, and the only principle by which the bulk of mankind are capable of directing their actions.
The rules which she follows are fit for her, those which he follows for him: but both are calculated to promote the same great end, the order of the world, and the perfection and happiness of human nature.
www.marxists.org /reference/subject/philosophy/works/en/part3c.htm   (7710 words)

  
 Adam Smith and the invisible hand
Smith is often regarded as the father of economics, and his writings have been enormously influential.
Smith was profoundly religious, and saw the "invisible hand" as the mechanism by which a benevolent God administered a universe in which human happiness was maximised.
Smith saw this as a large part of what was good about the invisible hand mechanism.
plus.maths.org /issue14/features/smith   (2722 words)

  
 People:Smith, Adam
Adam Smith: Biographical Sketch - An 1881 biography by James Anson Farrer.
Adam Smith on Justice in Taxation - Adam Smith's recommendations on taxation.
Squashed Adam Smith - A condensed edition of Adam Smith's 'The Wealth of Nations' with study notes and glossary.
www.inomics.com /cgi/econdir?path=Science/Social_Sciences/Economics/People/Smith,_Adam   (341 words)

  
 Illuminux Adam Smith Kohlberg Economics   (Site not responding. Last check: 2007-11-02)
Adam Smith’s Theory of the Invisible Hand, when analyzed with Kohlberg’s Theory of Morality, the Social Learning Theory, case studies of real world examples and Smith’s own Theory of Moral Sentiments, must be reconstructed.
Smith’s own conclusions and writing indicate that he did not believe that the Theory of the Invisible Hand would work without business morality, this morality must be included as part of the reconstructed theory.
Smith’s writing (Theory of Moral Sentiments etc.) indicated that the three virtues were needed in order for the Theory of the Invisible Hand to work properly.
www.illuminux.com   (1296 words)

  
 Adam Smith rule -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-11-02)
Adam Smith rule -- Facts, Info, and Encyclopedia article
This rule states, "When a customer makes a request, take care of him in a professional manner; otherwise, leave him alone."
An applied example of this would be a city which professionally maintains certain streets, and ignores maintenance on others.
www.absoluteastronomy.com /encyclopedia/a/ad/adam_smith_rule.htm   (61 words)

  
 THE BETRAYAL OF ADAM SMITH
Many people act like they are, though--and will, among other things, claim the mantle of the famed Adam Smith in doing so.
A third condition basic to the market theories of Adam Smith, but rarely noted by corporate libertarians, is that capital is locally or nationally rooted and its owners are directly involved in its management.
.Smith was also quite explicit that optimal market efficiency depends on the owners of capital being directly involved in its management--the owner managed enterprise.
www.nationalinvestor.com /experts-korten.htm   (1973 words)

  
 Wealth of Nations (Adam Smith)   (Site not responding. Last check: 2007-11-02)
A common smith, who, though accustomed to handle the hammer, has never been used to make nails, if upon some particular occasion he is obliged to attempt it, will scarce, I am assured, be able to make above two or three hundred nails in a day, and those too very bad ones.
A smith who has been accustomed to make nails, but whose sole or principal business has not been that of a nailer, can seldom with his utmost diligence make more than eight hundred or a thousand nails in a day.
In the same manner a third becomes a smith or a brazier, a fourth a tanner or dresser of hides or skins, the principal part of the nothing of savages.
academics.triton.edu /uc/files/wealth_n.html   (19959 words)

  
 Smith: Wealth of Nations, Book V, Chapter 1: Library of Economics and Liberty
But the moment that an artificer, a smith, a carpenter, or a weaver, for example, quits his workhouse, the sole source of his revenue is completely dried up.
No society, whether barbarous or civilized, has ever found it convenient to settle the rules of precedency of rank and subordination according to those invisible qualities; but according to something that is more plain and palpable.
But that board seems to have no direct jurisdiction over the committee, nor any authority to correct those whose conduct it may thus inquire into; and the captains of his Majesty's navy, besides, are not supposed to be always deeply learned in the science of fortification.
www.econlib.org /library/Smith/smWN20.html   (16400 words)

  
 Adam Smith   (Site not responding. Last check: 2007-11-02)
He did not encourage laissez faire (two words he never used) because he was aware of the limitations of markets and of the usefulness and limitations of the State, and nor did he support leaving the poor without realistic opportunities of sharing in their country’s wealth.
In short, Smith’s ideas did not qualify him for the phoney cliché title of the ‘High Priest of Capitalism’ or its ‘Apostle’, and neither was he a sort of leftwing, or even moderate, ‘socialist’.
He was a firm believer in the positive influence of commerce through trade and exchange in harmonising social and international relations in a society subject to the rule of law, justice and with representative government.
www.adamsmithslostlegacy.com   (586 words)

  
 Adam Smith, Esq.: An inquiry into the economics of law firms....   (Site not responding. Last check: 2007-11-02)
Adam Smith, Esq.: An inquiry into the economics of law firms....
For those of you who are only recent visitors to "Adam Smith, Esq.," the UK's Clementi reforms will, in an utterly fascinating-to-watch real-world experiment, permit law firms to obtain capital from outside investors and even, mirabile dictu, go public through IPO's, as well as partner with accountants, management consultants, and others.
My good friends at Edge International are convening for an all-hands meeting on the 21st and 22nd, and they have graciously invited me. I will be doing a presentation about the use of blogs, wikis, and RSS in professional service firms.
www.bmacewen.com /blog   (5042 words)

  
 Adam Smith Excerpt   (Site not responding. Last check: 2007-11-02)
The spinner is almost always a distinct person from the weaver; but the ploughman, the harrower, the sower of the seed, and the reaper of the corn, are often the same.
In the same manner a third becomes a smith or a brazier; a fourth a tanner or dresser of hides or skins, the principal part of the clothing of savages.
The difference of natural talents in different men is, in reality, much less than we are aware of; and the very different genius which appears to distinguish men of different professions, when grown up to maturity, is not upon many occasions so much the cause as the effect of the division of labour.
www.skidmore.edu /~tkuroda/hi215/Smith.htm   (10237 words)

  
 Modern History Sourcebook: Adam Smith: The Wealth of Nations, 1776 (Epitome)
But in the way in which this business is now carried on, not only the whole work is a peculiar trade, but it is divided into a number of branches, of which the greater part are likewise peculiar trades.
A greater number of men and cattle are employed in its cultivation, the produce increases with the increase of the stock which is thus employed in raising it, and the rent increases with the produce.
From: Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 2 Vols., Everyman's Library (London: Dent and Sons, 1904), Vol.
www.fordham.edu /halsall/mod/adamsmith-summary.html   (3999 words)

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