Adam Smith

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Virtue is more to be feared than vice, because its excesses are not subject to the regulation. ~ Adam Smith

Adam Smith was a born in Kirkcaldy, Scotland, perhaps in the 1720s. Of a timid an sickly nature, Smith lived with his mother until the end of her days. Adam Smith was a typical genius: sharp, calculating, withdrawn, preferring solitude to company, and highly inclined in both quantitative, as well as, qualitative subjects. I personally think that he had a touch of Asperger’s Autism. The same gene that causes genius inflicts emotional withdrawal and strong predilections for the abstract and the sequential, like math or music. Adam Smith had a nuanced ear and a nimble tongue (Although he used it for professional reasons mostly). A lover of foreign languages, when Adam Smith attempted to learn a new language, he spoke it better than the natives. Political economy might have been Adam Smith’s Achilles’ heel, but he spread his passions wide. His proficiency covered more than economics, math, and languages. At Glasgow University, Adam Smith lectured on rhetoric and jurisprudence. But he is mostly famous for his book, The Wealth of Nations, a critical study of economic freedom. Could selfish, self-serving enterprise benefit society at large? Adam Smith thought so–via the Invisible Hand. (Also try this link for the Invisible Hand.) All economies are based on. How much something costs to produce and how much the buyer is willing to pay for it. Adam Smith explored this point in his Labor Theory of Value. The Wealth of Nations encompasses much more than I have included; it is a must read for anyone in the field. And it is too bad that this book is one of the few writings that have survived. Before his death, Adam Smith was said to have been touched by dementia. Maybe, maybe not. But what he did do was burn most of his manuscripts. Did he perhaps know something we do not? Are there those who do not condone Adam Smith as the original thinker that the rest of the world believes him to have been? Jim Christie is one of those disbelievers. For a quick lesson on dissent, and for an example on how there will always be those who scream vile and violation. Go to www.mises.org/story/367.

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