Smith and Undeveloped Nations

Bibliographic Data

ID9256830
AuthorsManuel Avila (0000-0003-3991-7273, Villanova University, corresponding author)
Year1976
Volume34
Issue3
Pages345-358
Publication date1976-12-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueReview of Social Economy (JOURNAL)
Journal identifiersISSN: 0034-6764 • E-ISSN: 1470-1162
PublisherInforma UK Limited (PUBLISHER • GB)
DOI10.1080/00346767600000020
OpenAlexW2000289612
LanguageEN
References cited9

Adam Smith's The Wealth of Nations is such a rich and generative work that in its study one is certain to find something to capture one's interests. The purpose of this paper is to show that Smith abounds with propositions that even today are applicable to the problems of the developing countries. He is the source of seminal ideas that have become full-blown theories at the hands of latter-day economists. In presenting them it is hoped that the author will not incur Cannan's reproach of using Smith as a mere clothesline on which to hang his own editorial opinions. [Cannan, p. xxi] The emphasis is positive; the time to take Smith to task for shortcomings which may seem obvious after the benefit of two-hundred years of experience should be postponed for another day. It seems somewhat unfair to use modern economic theory retroactively, that is, to test the goodness of fit of ideas that precede the mold used for the test, but this is particularly so in this year of the Wealth's Bicentennial

Development economics · Economics · Political science · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy

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