Rehabilitation Of Classics

David Goalstone

Chapter 20 in Macrofoundations of Political Economy and Development, 2007, pp 187-194 from Palgrave Macmillan

Abstract: Abstract Adam Smith pointedly ignored Sir James Steuart in the Wealth of Nations. Both men came from Scotland but Smith was pro-English while Steuart was a nationalist. Steuart supported the rebellion in 1745 and paid for it with an 18-year exile. Because of Smith’s influence, Classical economists disregarded Steuart. Smith thought he was protecting the world from ‘Steuart’s errors’. In fact, he was denying the world the chance to learn survival-conditions analysis. At the beginning of his Principles, Steuart defined the science of political economy in the following words:

Keywords: Political Economy; Birth Rate Death Rate; Initial Endowment; Social Accounting; High Praise (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-60431-5_20

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DOI: 10.1057/9780230604315_20

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