Adam Smith on Power and Maritime Trade
Bibliographic Data
| ID | 12427570 |
|---|---|
| Authors | Nuno Ornelas Martins (0000-0001-7966-6435, University of the Azores and Centro de Estudos em Gestão e Economia, corresponding author) |
| Year | 2014 |
| Volume | 22 |
| Issue | 1 |
| Pages | 38-56 |
| Publication date | 2014-05-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Mediterranean Studies (JOURNAL) |
| Journal identifiers | ISSN: 1074-164X • E-ISSN: 2161-4741 |
| Publisher | The Pennsylvania State University Press (PUBLISHER) |
| DOI | 10.5325/mediterraneanstu.22.1.0038 |
| OpenAlex | W3147395543 |
| Language | EN |
| Citations received | 1 |
| References cited | 5 |
Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations is often interpreted as an explanation of the self-regulating nature of the market system, where an “invisible hand” leads to a harmonious coordination of different economic agents' pursuit of self-interest, so that economic development is brought about naturally through the division of labor. However, a closer reading of Smith's contribution shows that he saw the expansion of the market as a process typically driven by military and political power. For Smith, cases of a natural and spontaneous growth of industry occur only due to exceptional circumstances
Adam smith · Division of labour · Economic system · Economics · Invisible hand · Market economy · Natural (archaeology · Neoclassical economics · Political economy · Political science · Politics · Power (physics · Reading (process · Historical Economic and Social Studies · History · Law
| Citations per year | 0.33 |
|---|---|
| Citation span | 2023 - 2023 (1) |
| Highly cited | No |