Adam Smith Reconsidered: History, Liberty, and the Foundations of Modern Politics

Adam Smith is the father of modern economics and a moral philosopher who was prepared to critique markets. Paul Sagar argues that Smith's contributions to political theory are underappreciated and neglected, and that he is more thoroughly a political thinker who made major contributions to the history of political thought. He offers major reinterpretations of Smith's political, moral, and economic ideas, seeking to revolutionize how he is understood.

Format: Hardback
Length: 248 pages
Publication date: 19 April 2022
Publisher: Princeton University Press

Adam Smith, the father of modern economics, has been recognized for his contributions to both moral philosophy and political theory. However, his political thought has been underappreciated and neglected, leading Paul Sagar to argue in his book "Adam Smith Reconsidered" that Smith's fundamental political ideas have been widely misunderstood. Sagar presents Smith as a political thinker who made significant contributions to the history of political thought, rather than viewing him as either a prophet of the free market or a moralist who saw the dangers of commerce primarily in the corrupting effects of trade.

According to Sagar, Smith saw war, not commerce, as the engine of political change and was centrally concerned with the political, not moral, dimensions of and threats to commercial societies. He argues that Smith's political thought was rooted in the importance of history and the necessity of maintaining a realist sensibility, and that we still have much to learn from his original way of doing political theory.

Sagar offers major reinterpretations of Smith's political, moral, and economic ideas in "Adam Smith Reconsidered," seeking to revolutionize how he is understood. He recovers Smith's original way of doing political theory, one that is rooted in the importance of history and the necessity of maintaining a realist sensibility. This approach emphasizes the importance of understanding the historical context in which Smith's ideas developed and the social and economic conditions that shaped his thought.

Sagar's book challenges economists, moral philosophers, political theorists, and intellectual historians to rethink Smith and his significance. It emphasizes the need to appreciate Smith's political thought as a whole, rather than viewing him as solely a proponent of free markets or a moralist. By understanding Smith's political ideas correctly, Sagar argues, we can gain a deeper appreciation of his contributions to western political thought and his relevance to contemporary debates about economic and social policy.

In conclusion, "Adam Smith Reconsidered" is a bold and revisionary book that offers a fresh perspective on Adam Smith's political thought. By challenging the widely held misconceptions about Smith's ideas, Sagar seeks to revolutionize how he is understood and his significance to contemporary debates about economic and social policy. The book emphasizes the importance of maintaining a realist sensibility in political theory and the need to understand the historical context in which Smith's ideas developed. It is a valuable contribution to the field of political philosophy and economics and will be of interest to scholars and students alike.

Weight: 568g
Dimension: 165 x 242 x 27 (mm)
ISBN-13: 9780691210834