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Peukert, Helge --- "Adam Smith (1723-90)" [1999] ELECD 49; in Backhaus, G. Jürgen (ed), "The Elgar Companion to Law and Economics" (Edward Elgar Publishing, 1999)

Book Title: The Elgar Companion to Law and Economics

Editor(s): Backhaus, G. Jürgen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781858985169

Section: Chapter 42

Section Title: Adam Smith (1723-90)

Author(s): Peukert, Helge

Number of pages: 11

Extract:

42 Adam Smith (1723-90)
Helge Peukert


The man, his, life and background
Some critics such as Schumpeter (1954, pp. 185-94) notwithstanding, the
major achievement of Smith is the early exposition of a new type of social,
cultural, economic, legal and political system after the slow but steady ero-
sion of feudalist and agricultural societies and former theoretical concepts
such as mercantilism and physiocracy. The Wealth of Nations (Smith, 1976)
is not primarily a partisan pamphlet. Its subject matter is the understanding of
the socioeconomic transformation at his time in the context of a history of
civilization (the intensive debate about Smith's oeuvre is well documented
and accessible in Wood, 1984-94; Wilson and Skinner, 1976; Skinner and
Wilson, 1975; Skinner, 1979; Clark et al., 1966; Jones and Skinner, 1992;
Glahe, 1978).
Although most of his writings were burnt by his literary executor, the
complete edition of his works sheds light on his encompassing intent to
develop a theory of a new type of society. This comprises his handling of
rhetoric and belles lettres (Smith, 1983, including his essay `Considerations
concerning the first formation of languages'), essays on philosophical sub-
jects (Smith, 1977, including a highly original theory of science, taking
astronomy as an example - see the excellent interpretation by Thomson,
1965), lectures on jurisprudence (Smith, 1982 - the original did not survive,
but notes by his students did: see the introduction by Meek et aZ.), his first
published book in 1759 about the theory of moral sentiments (Smith, ...