Adam Smith : what he thought, and why it matters

Adam Smith is often hailed as the 'father of modern economics,' yet interpretations of his ideas spark intense debate. Was he a champion of capitalism and individual freedom, or an apologist for inequality and human selfishness? This insightful exploration delves into Smith's broader intellectual contributions against the backdrop of Enlightenment Scotland, offering a comprehensive overview of his life, work, and lasting influence. The narrative not only serves as a biography but also dispels myths surrounding Smith, examining his thoughts on ethics, law, economics, and government. His ideas have shaped the perspectives of thinkers like Karl Marx, Charles Darwin, John Maynard Keynes, and Friedrich Hayek. Smith emerges as a pioneer of modern social psychology and behavioral theory, presenting a nuanced evolutionary theory of political economy that acknowledges the interplay between markets and the state. In an era of polarized economic and political discourse, this analysis applies Smith's insights to contemporary issues such as predatory capitalism and the 2008 financial crisis. By revisiting Smith's principles, the work addresses critical topics of inequality, human dignity, and exploitation, underscoring his relevance in discussions about the defense, reform, or renewal of the market system.