Adam Smith: Evolutionary Social Theorist ante litteram

Heinz D. Kurz ()
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Heinz D. Kurz: University of Graz, RESOWI Centre EF

Homo Oeconomicus: Journal of Behavioral and Institutional Economics, 2024, vol. 41, issue 1, No 7, 123-152

Abstract: Abstract The paper examines evolutionary elements in Adam Smith’s social theory, connecting them to an earlier contribution to natural history by George-Louis Leclerc, Comte de Buffon. It then compares Smith’s analysis with those of Karl Marx and Joseph Schumpeter, who were fascinated by Darwinian evolutionary biology. This comparison demonstrates that while developing evolutionary approaches to the social sciences suitable for their respective subject matter, Marx and Schumpeter drew heavily on Smith’s insights. All three authors aimed to unveil the forces shaping the “process of civilization”, or society’s “law of motion,” along with its associated hazards. They pondered whether this process inherently led to rising living standards, along with “equality, liberty, and justice”, and whether it could derail, ending in a tailspin.

Keywords: Circular and cumulative causation; Evolutionary economics; Marx; Karl; Process of civilization; Schumpeter; Joseph; Smith; Adam; Unintended consequences of human action (search for similar items in EconPapers)
JEL-codes: B12 B14 B15 B31 D46 E14 H56 O31 P17 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s41412-024-00149-2

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