Essays on Adam Smith

665 Pages·1975·32.43 MB·English

by  Andrew S. Skinner, Thomas Wilson (editors)

ESSAYS ON ADAM SMITH
THE GLASGOW EDITION OF THE WORKS AND
CORRESPONDENCE OF ADAM SMITH
Commissioned by the University of Glasgow to celebrate the bicentenary of
the Wealth of Nations
THE THEORY OF MORAL SENTIMENTS
Edited by a. l. macfie and d. d. Raphael
ii
AN INQUIRY INTO THE NATURE AND CAUSES
OF THE WEALTH OF NATIONS
Edited by r. h. Campbell and a. s. skinner; textual editor w. b. todd
hi
ESSAYS ON PHILOSOPHICAL SUBJECTS
(and Miscellaneous Pieces)
Edited by w. p. d, wightman
IV
LECTURES ON RHETORIC AND BELLES LETTRES
Edited by j. c. bryce
This volume includes the Considerations concerning the
First Formation of Languages
v
LECTURES ON JURISPRUDENCE
Edited by r. l. meek, d. d. Raphael, and p. g. stein
This volume includes two reports of Smith’s course together with
the ‘Early Draft’ of the Wealth of Nations
VI
CORRESPONDENCE OF ADAM SMITH
Edited by e. c. mossner and i. s. ross
Associated volumes:
ESSAYS ON ADAM SMITH
Edited by a. s. skinner and t. wilson
LIFE OF ADAM SMITH
By i. s. ross
ESSAYS ON
ADAM SMITH
EDITED BY
ANDREW S. SKINNER
AND
THOMAS WILSON
CLARENDON PRESS .OXFORD
I975
Oxford University Press, Ely House, London W. i
GLASGOW NEW YORK TORONTO MELBOURNE WELLINGTON
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ISBN O IQ 828191 9
© Oxford University Press 1975
All rights reserved. No part of this publication may by reproduced,
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Printed in Great Britain by
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Acknowledgements
T
he publishers are indebted to the following for permission to reprint
a number of articles in this volume. In Part I, Professor Cropsey’s
article is reprinted through the generosity of Rand McNally and originally
appeared in History of Political Philosophy, ed. Strauss and Cropsey
(1963). Professor Howell’s piece is reprinted with the permission of
Princeton University Press, and appeared in his Eighteenth Century British
Logic and Rhetoric (1971). Professor Raphael’s article is reprinted (with
slight revision) by kind permission of the British Academy, from their
Proceedings, vol. lviii (1972). Professor Stigler’s article has appeared in
abbreviated form in History of Political Economy, vol. iii (Fall, 1971).
In Part II, the first article is based on pp. 133-43 °f Professor Hol¬
lander’s Economics of Adam Smith (1973) and is reprinted by kind permis¬
sion of the University of Toronto Press and Heinemann Educational Books
Ltd. Article VI, by Professor Rosenberg has been published in the
Journal of Political Economy (1974). Article VIII is adapted from pp.
165-6, 168-9, I77_9 in On Economic Knowledge by Adolph Lowe.
Copyright 1965 by Adolph Lowe. Reprinted by permission of Harper and
Row, Publishers, Inc.
£?163i

Contents
Abbreviations ix
Editorial Note x
PART I
Analytical Table of Contents of Part I xiii
Introduction i
• I. Adam Smith’s Lectures on Rhetoric: an Historical Assessment
W. S. Howell ii
II. Adam Smith and the History of Ideas W. P. D. Wightman 44
III. Scientific Explanation and Ethical Justification in the Moral Senti¬
ments T. D. Campbell 68
IV. The Impartial Spectator D. D. Raphael 83
V. The Topicality of Adam Smith’s Notion of Sympathy and Judicial
Evaluations L. Bagolini ioo
VI. Moral Philosophy and Civil Society H. Mizuta 114
VII. Adam Smith and Political Philosophy J. Cropsey 132
^VIII. Adam Smith: an Economic Interpretation of History A. S.
Skinner 154
• IX. Sceptical Whiggism, Commerce, and Liberty D. Forbes 179
X. Adam Smith and the Colonial Disturbances D. Stevens 202
' XI. Adam Smith and the Mercantile System A. W. Coats 218
XII. Smith’s Travels on the Ship of State G. J. Stigler 237
XIII. Adam Smith’s First Russian Followers A. H. Brown 247
-f XIV. The Conflict between Montesquieu and Hume: A Study of the
Origins of Adam Smith’s Universalism P. E. Chamley 274
Vlll Contents
PART II
Analytical Table of Contents of Part II 309
- I. On the Role of Utility and Demand in The Wealth of Nations S.
Hollander 313
-f- II. Ricardo and Adam Smith M. H. Dobb 324
III. Compensating Wage Differentials A. Rees 336
IV. Adam Smith on Competition and Increasing Returns G. B.
Richardson ^0
'/ V. Some Aspects of the Treatment of Capital in The Wealth of Nations
M. Bowley 361
VI. Adam Smith on Profits—Paradox Lost and Regained N. Rosen¬
berg
377
VII. Adam Smith and Society’s Decision-makers J. Spengler
39°
VIII. Adam Smith’s System of Equilibrium Growth A. Lowe
4i5
~>IX. Adam Smith’s Theory of Economic Growth W. A. Eltis 426
X. Adam Smith and the Theory of International Trade A. I. Bloom¬
field
455
XI. Adam Smith and the Status of the Theory of Money D. Vickers 482
XII. Adam Smith and the Bankers S. G. Checkland
5°4
XIII. The Paradox of Progress: Decline and Decay on The Wealth of
Nations R. L. Heilbroner
524
XIV. Adam Smith and Alienation E. G. West
54°
XV. The Treatment of the Principles of Public Finance in The Wealth of
Nations A. T. Peacock
553
XVI. The Economics of Education in English Classical Political Economy:
A Re-examination M. Blaug 568
# Some Concluding Reflections T. Wilson 600
Table of Corresponding Passages of The Wealth of Nations 613
Index ^39
Abbreviations
Corr. Correspondence
ED ‘Early Draft’ of The Wealth of Nations
EPS Essays on Philosophical Subjects (which include:)
Ancient Logics ‘History of the Ancient Logics and Metaphysics’
Ancient Physics ‘History of the Ancient Physics’
Astronomy ‘History of Astronomy’
English and Italian ‘Of the Affinity between certain English and
Verses Italian Verses’
External Senses ‘Of the External Senses’
Imitative Arts ‘Of the Nature of that Imitation which takes place
in what are called the Imitative Arts’
Music, Dancing, ‘Of the Affinity between Music, Dancing and
and Poetry Poetry’
Stewart Dugald Stewart, ‘Account of the Life and
Writings of Adam Smith, ll.d.’
FA, FB Two fragments on the division of labour,
Buchan Papers, Glasgow University Library.
LJ (A) Lectures on Jurisprudence: Report of 1762-63
LJ (B) Lectures on Jurisprudence: Report dated 1766
LRBL Lectures on Rhetoric and Belles Lettres
TMS The Theory of Moral Sentiments
WN The Wealth of Nations
Editorial Note
R
eferences to Smith’s published works are given by citing part,
l. section, and paragraph number. For example, the reference ‘TMS
I.iii.2.2’ indicates a reference to Part I, section iii, chapter 2, paragraph 2.
The statement ‘WN I.x.b.i’ indicates a reference to the WN Book I,
chapter x, section b, paragraph 1. Astronomy, 1.4 refers to section I,
paragraph 4.
The Table of Corresponding Passages which is appended to this volume
identifies the sections into which the WN is divided and provides the page
references for each paragraph in the Cannan editions of 1930 and 1937.
It should thus be possible to trace references to either of these editions,
and to the Glasgow edition. Unless otherwise stated, references in the text
are to the 1930 edition.
In the case of the lecture notes we have followed the following practice:
references to the LRBL are given in the form ‘LRBL 2.8’, indicating a
reference to lecture 2, paragraph 8. In the Lectures on Jurisprudence we have
cited the volume and page reference from the original manuscripts (all of
which will be included in the new edition) while retaining page references
to the Cannan edition as supplied by the contributors. References to the
Correspondence give date of letter and letter number from the new edition.