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Tenniel and Smith know the Mad Hatter's topper is more than a silly silk hat.

James Stacey Taylor for AdamSmithWorks So impoverished might he be that he could not afford to forgo the small profit that he could make by using his hat to contribute in some way to his business. Hence, the price-tag prominently displayed in the Hatter’s … … labor reading guide and wealth of tweets Understanding the power of exchange with hats in children's books from Sarah Skwire Maria Pia Paganelli's book review, Beavers, Barbados, and the British Empire at Econlib More James Stacey Taylor on AdamSmithWorks

The Moon Phase Watch and Adam Smith’s Philosophy of History

Graham McAleer for AdamSmithWorks Does Smith's philosophy of history give in to the apocalyptic temptation to "immanentize the eschaton"? A clue it does not is the moon phase watch. … : if there is to be an end times, it will be orthodox, coming as “a flash of lightning” (Matthew 24: 25-28). Related Links: Paul Mueller, The Scottish Intellectual Tradition Before the Enlightenment Jordan Ballor, Adam Smith in Theological Perspective

Adam Smith on Money as a Medium of Exchange

Marko Veckov for AdamSmithWorks It was Adam Smith, who first introduced the notions of nominal and real values of money. First being the absolute value of a certain amount of money, and second being the quantity of goods and services that can be purchased … … which from there on led the world to the path of development never seen before in human history. Related Links John Burrow, Cryptocurrency, Money and Adam Smith Sarah Skwire, Money and Virtue in the Ancient World Robert Murphy, Modelling Money, at Econlib

The Future of Farmers – Adam Smith Weighs In

Paul Schwennesen for AdamSmithWorks Why does “farmer” evoke such an emotional response within us? Is it the myth of a coherent way of life? Perhaps a “farm” evokes wholesome tranquility and bucolic splendor. It’s mostly an illusion. Yet...

An Accurate versus Inaccurate Reading of Adam Smith

Jerry Z. Muller for AdamSmithWorks The debate continues as Muller again attempts to reconcile Soll's portrayal of Adam Smith with the Adam Smith Muller has studied and written about. … to do so. This is not the place to explore the strengths (as in the chapter on Jean-Baptiste Colbert) and weaknesses of the remainder of Soll’s book. Suffice it to say that a balanced verdict would be that, like the curate’s egg, it is good in parts.

The Great Antidote with Lauren Hall on the Medicalization of Giving Birth: Deep Dive

Juliette Sellgren and Lauren Hall We all know the importance of birth and death. What most people don't seem to realize is the extent to which the beginning and end of our lives has been medicalized. In this episode, Juliette Sellgren and Dr. Lauren Hall … … Western medical researchers' abuse of Blacks from slavery to modern times Harriett Washington's book: Medical Apartheid: The Dark History of Medical Experimentation on Black Americans from Colonial Times to the Present Resources compiled by Christy Lynn

On Whom Do You Depend?

How do we decide what to do for ourselves, and when to depend on others?

How Smithian was Sima Qian?

Kwok Ping Tsang for AdamSmithWorks March 24, 2021 How much can we extract modern meanings from ancient texts, and why should we beware reading too much into the past? … -243. Watson, B. (1993) Sima Qian: Records of the Grand Historian in 3 Volumes (Qin, Han I and Han II) (New York: Columbia University Press). Young, L. (1996). The Tao of Markets: Sima Qian and The Invisible Hand. Pacific Economic Review, 1(2), 137-145.

#WealthofTweets: Book 1.8

Of the Wages of Labor … The higher the wages, the more workers want to work, the more scope for the division of labor. And we know what that means…everyone gets richer! (I.viii.57) #Yay #WealthOfTweets #SmithTweets See Also: The AdamSmithWorks Reading Guide for this chapter.

What can Adam Smith teach us about the moral economy of sanctioning oligarchs?

Brianne Wolf for AdamSmithWorks Smith posited that there is a moral economy in trade, not just an economic one. We learn what kinds of behaviors are acceptable as we engage in both conversational and material exchange with others. … , Part V: Of the Laws of Nations For teachers Teacher resources: Alice Temnick's Do Not Take Peace For Granted TMS Reading Guide, Part III: "Of the Foundation of our Judgments concerning our own Sentiments and Conduct, and of the Sense of Duty"

What Karl Marx Did and Did Not See in Adam Smith

by Pedro Schwartz for AdamSmithWorks October 15, 2018 … ” as an Appendix. [4] Engels, Friedrich (1845): The Condition of the Working Class in England. [5] The influence of demand on price presented a conundrum that was not fully solved until the 1870s. [6] A labourer building roads, railroads, or canals.

Adam Smith as Behavioral Economist?

Alejandra Salinas for AdamSmithWorks March 1, 2023 … & P.G.Stein (eds.), The Glasgow Edition of the Works and Correspondence of Adam Smith, Indianapolis: Liberty Fund, 1982. Thaler, Richard, “Behavioral Economics: Past, Present, and Future,” American Economic Review 106, no. 7 (July 2016): 1577-1600.

Adam Smith on the Labor Theory of Value

Steven Horwitz for AdamSmithWorks September 18, 2019 There are many things Adam Smith got right about economics, including the discipline’s fundamental insight about the unplanned nature of market-driven economic and social order. He is rightly called the founder of economics for that reason. However, he …

Book II, Chapter 3

Of the Accumulation of Capital, or of Productive and Unproductive Labour … Earl of Elgin (John Fernie, History of the Town and Parish of Dunfermline 1815, p. 71), and its remains now form a mantel-piece in the dining-room at Broomhall, near Dunfermline.] 61. [Ed. 1 does not contain ‘though’.] 62. [Ed. 1 does not contain ‘&c.’]

Adam Smith’s Wealth of Nations: Maybe We Can Tweet That!

Sarah Skwire and Janet Bufton for AdamSmithWorks Why did AdamSmithWorks recently tweet the entire Wealth of Nations? … Wealth of Nations. With the occasional poop emoji. The #WealthOfTweets concludes on March 8th, unless you’d also like to read the Appendix on Herring, which will be tweeted on March 9th. You can find the entire #WealthOfTweets project archived here.

What can Adam Smith teach us about the moral economy of sanctioning oligarchs? Part 2

Brianne Wolf for AdamSmithWorks The West’s decision to sanction Russia’s superrich makes sense given Smith’s account, on the one hand, because of the general tendency to admire and worship the rich. If the wealthiest are punished, so with them goes public … … , Part V: Of the Laws of Nations For teachers Teacher resources: Alice Temnick's Do Not Take Peace For Granted TMS Reading Guide, Part III: "Of the Foundation of our Judgments concerning our own Sentiments and Conduct, and of the Sense of Duty"

The Sparing, Indirect, and Invisible Hand: Smith Parries Philo on the Problem of Evil

Paolo Santori for AdamSmithWorks Santori speculates that the first book of Adam Smith's project in Wealth of Nations can also be read as a response to Hume's skepticism about God and the problem of evil. "Smith’s best arguments to defend God’s work …

Book I, Chapter V

Chapter V: Of the Real and Nominal Price of Commodities … given. See the note on that passage.] 42. [The question of seignorage is further discussed at some length in the chapter on Commercial Treaties vol. ii., IV.6.15-32,.] 43. [Ed. 1 reads ‘in the tear and wear of coin, and in the tear and wear of plate’.]

Jane Austen's Theory of Moral Sentiments: Sense, Sensibility, and Adam Smith

Shannon Chamberlain for AdamSmithWorks Jane Austen isn’t the first name that comes to mind when we think of capitalism, the Industrial Revolution, or the moral side of the pursuit of wealth. But the England in which she lived and wrote her six … … a Laugh At Yourself) | Adam Smith Works Cecil Bohanon and Michelle Vachris' Self-Help Advice from Adam Smith and Jane Austen | Adam Smith Works Caroline Breashears' Jane Austen and the Perks of Imperfection | Online Library of Liberty (libertyfund.org)

Adam Smith's Political Economy: From Poison to Science

Kwok Ping Tsang for AdamSmithWorks October 28, 2020 … is in conflict with the passage by Drazen (2002) mentioned earlier.↩ Did Say misread the original English version of WN? Or was Say misled by one of the many French translations? While interesting, such questions are beyond the scope of this paper.↩