This powerful and thoroughly documented book overturns many long-held beliefs about Adam Smith. Spencer Pack demonstrates that contrary to popular myth, Adam Smith was not a dogmatic defender of laissez-faire capitalism and neither was he in favour of regressive taxation. The book stresses for the first time the many qualms and problems - indeed the profound ambiguity - which Adam Smith felt toward the capitalist system.

About the Author
Spencer J. Pack, Professor Emeritus of Economics, Connecticut College, US and Economic Advisor, Hack Venture Capital

Reviews
'The most noted figure in the history of economic thought is, of course, Adam Smith. Captured in recent times by free-market ideologues who have never read his work, he is also the most misunderstood. This is a fine treatment of this wise, wonderful, literate and intensely pragmatic scholar.' -- John Kenneth Galbraith, Harvard University, US
'Adam Smith is frequently hailed as an early advocate of free enterprise, an enemy of government and a spokesman of the industrial bourgeoisie. In this fascinating book however, Spencer Pack argues that Smith's position on the role of the state in a capitalist society was not so different from that of a modern 20th century liberal (in the American sense of that term). Here is a surprising thesis that will make readers think again not just about Adam Smith but also about capitalism and government intervention under capitalism. This is a book that will appeal to an intelligent layman just as much as to professional economists.' -- The late Mark Blaug, formerly of the University of London and University of Buckingham, UK



Book Information
ISBN 9781849801294
Author Spencer J. Pack
Format Paperback
Page Count 208
Imprint Edward Elgar Publishing Ltd
Publisher Edward Elgar Publishing Ltd