Adam Smith: A Very Short Introduction

Very Short Introductions #582

by Christopher J. Berry

In 1776 Adam Smith (1723-90) wrote The Wealth of Nations, a book so foundational that it has led to him being called the "father of economics." Today he is associated with the promotion of self-interest, a defense of greed and a criticism of any governmental 'interference' in market transactions which, if left to the 'invisible hand', will produce prosperity and liberty. Yet if Smith is actually read these associations are more a caricature than a faithful portrait.

In this Very Short Introduction , Christopher Berry offers a balanced and nuanced view of this seminal thinker, embedding his fierce defense of free trade, competition, and assault on special interests in contemporary European history, politics, and philosophy. As Berry explores, Smith was more than an economist. His book The Theory of Moral Sentiment, offered a complex account of ethics in the context of human social behavior. His scope as a professor at the University of Glasgow, a major center of the Scottish Enlightenment, was extensive. Beyond courses in philosophy and jurisprudence he also gave classes covering history, literature, and language. In addition to his two major works he also wrote a pioneering study of the history of astronomy as an illustration of the motivations that drive humans to seek answers to questions. He produced, again derived from his Glasgow classroom, an analysis of the development of grammar and language. As Christopher Berry shows, Adam Smith was no narrow thinker, but rather one who produced not only one of the greatest books in the history of social science, but also a wide-ranging body of work that remains significant today.

ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Genres: Economics, Philosophy, Nonfiction, Biography, History, Audiobook, Finance

160 pages, Paperback

First published January 1, 2018

About the author

Christopher J. Berry is Professor Emeritus of Political Theory at the University of Glasgow, which he joined from 1970, from the LSE where he completed his doctorate. He is best known for his work on the Scottish Enlightenment and on the ‘Idea of Luxury’ and he has given invited keynote lectures on these themes in China, Japan, Chile, the US and in Europe. He is an elected Fellow of the Royal Society of Edinburgh.

Reviews

[Julian Worker · Rating 5 out of 5]

This is a wonderful introduction to Adam Smith's career as an academic and writer.

Many interesting points are made in the book, one of which is that Adam Smith is only mentioned once in the book 'A Very Short Introduction to Economics' in the same series, so perhaps his importance as an economist is overrated?

My favourite section in this book relates to high wages. In both his book, The Theory of Moral Sentiments, and in the book, An Inquiry into the nature and causes of the Wealth of Nations, Smith indicates he's in favour of high wages as they encourage in the worker the hope of 'bettering his condition'. The more the labourer is encouraged then the greater the productivity.

The central issue is not the monetary level of wages but their purchasing power. Smith believed the purpose of production is consumption. The wealth of nations lies in the increase of revenue and stock, in the availability and accessibility of more, better, and affordable goods.

In the Theory of Moral Sentiment prosperity brings joy, however in Wealth of Nations he says that no society can be flourishing and happy of which the greater part are poor and miserable.

[Molsa Roja(s) · Rating 5 out of 5]

Pot el pensament ser montruós? Havent comprès Hobbes, Locke, Adam Smith, diria: no. El que és monstruós és el dogma, creença de possessió d’una certesa quan la filosofia no és més que pregunta o proposta. Ni la propietat segons la concep Locke és condemnable, ni Smith és el l’instaurador del neoliberalisme, perversió amoral, maquinisme dels cossos. Smith, qui advertia dels perills de la divisió del treball; Smith, qui abogava pels alts salaris; Smith, per a qui les riqueses no eren res comparades amb la bona consciència i la salut; Smith, per a qui la societat comercial era bona SI I NOMÉS SI es trobava sota un bon govern que facilités la funció de la mà invisible com a redistribució de la riquesa, qui no concebia el privilegi com l’acumulació infinita de diners sinó com a estat d’alta satisfacció material que s’infiltra en la societat i la fa créixer; Smith, per a qui la felicitat era impossible si part de la societat es trobava en la pobresa. En llegir els contractualistes o a Smith sempre sento la inestabilitat, la poca distància existent entre la idea d’un govern mínim la funció del qual és garantir el benestar del poble i la societat anàrquica. La qüestió és, com per a Rousseau, com fer que un govern no sigui un ens transcendent d’opressió sinó un ens immanent al teixit social de desig: com posar un i altre cop l’interès públic per sobre del privat. Molt i molt interessant per a conèixer la figura de Smith, per a adonar-nos que el seu nom i el seu llibre són sempre distorsionats pels interessos de la burgesia.

[Wilde Sky · Rating 3 out of 5]

A short biography of famous economist.

The man described sounds really interesting and did some great work, but this book was very bland.

Reading time one hour.

[Peter · Rating 3 out of 5]

The professor of political philosophy, Christopher J. Berry, wrote an introduction to the writings of Adam Smith. Smith lived between 1723 and 1790. The book contains a portrait of Smith by the caricaturist John Kay from when Smith died (Berry xvii). I read the book on my Kindle. The book has a section of references. The book has an index. The book has a section entitled “further reading” (Berry 119-124). Berry feels that Adam Smith is a very understood enlightenment thinker (Berry 1, 12-14). Berry writes, “Adam Smith is the author of the Wealth of Nations, one of the great works in the history of economics. The book is little read, even by economists who are content to pay lip service to him as a ‘founding father’ of their discipline. The one thing The Wealth of Nations is a large, complex book that cannot be reduced to a snappy summary. There is also much more to Smith than a book on the workings of the economy. He wrote an important treatise on moral philosophy, published an exceptionally well-informed history of astronomy, and was an author who cared about literary style. Smith also was interested in how to communicate both orally and in print” (Berry 1). The first chapter is a short biography of Smith plus an introduction to the Enlightenment. The last chapter is on the “legacy and reputation” of Smith (Berry 100-112). The remaining five chapters look at the different themes in Smith's writings. Berry’s book is a well-done introduction to the writings of Adam Smith.

[Zawadi · Rating 5 out of 5]

I don't usually like to read non-fiction BUT I must say that this book made a valiant effort to be interesting.

I had decided to study Adam Smith for this personal project of mine and I needed a crash course on economics. This novel did the work, providing historical context, a succinct overview on Adam Smith's belief system and his subsequent legacy in collective consciousness. Through this book, I now feel equipped with the knowledge that I needed.

[Chris · Rating 4 out of 5]

There is not a lot known about Adam Smith's life, so this book mainly analyzes his writing. He was not just an economist, or even primarily an economist. He was an Enlightenment Era philosopher who thought about the world from his very comfortable and academic position in life. There's nothing wrong with the book, but it is also not very inspiring. I can check Adam Smith off my list of people to know a little bit more about.

[Taff Jones · Rating 4 out of 5]

A very useful and accessible introduction to the so called father of economics that gave me - an utter economics ignoramus - a clear sense of what Smith - and economic theory is about. Marx next….then Thatcher I think.

[Sky · Rating 3 out of 5]

An assigned reading to discuss, I only got to finish half of this reading. Though a little more difficult to get into, this VSI shines a light om Adam Smith's other philosophies either than on economics. Might be able to finish in entirety on another day, but not too soon.

[thegoat gobbler · Rating 4 out of 5]

A good, fairly easy to understand and comprehensive review on Adam Smith and his main ideas. I am glad it doesn't only focus on his economic works but extends itself to his psychological and philosophical ones.

[Tom Hanlon · Rating 4 out of 5]

A solid overview of the man and his works. The list of suggested readings at the end is brilliant.

[Roger · Rating 4 out of 5]

Extraordinary content offset by occasionally piss-poor writing

[Carla Johana (old) · Rating 3 out of 5]

Solo para los que no han leído ni un escrito de Adam Smith.

[Shirley · Rating 4 out of 5]

A cool intro to Smith’s idea of the economics, ethics, and society

[Laura · Rating 1 out of 5]

THE UGLIEST WRITING I HAVE EVER READ.