ADAM SMITH AS A SELF-HELP GURU?
Gary Belsky posts on TIME (Money Magazine) HERE
"The Father of Economics Was Also the World’s First Self-Help Guru — And Can Improve Your Life!"
"Adam Smith, the 18th century Scotsman best known for writing The Wealth of Nations, is widely misunderstood. His insights into technology, ambition, and friendship that are as relevant today as they were in 1759.
In his new book, How Adam Smith Can Change Your Life, economics popularizer Russell Roberts explores what may be the world’s first self-help book, which is all the more remarkable for its author: Adam Smith, a.k.a., the18th century Scotsman known as the father of economics. But Roberts—host of the popular podcast EconTalk—focuses on Smith’s mostly forgotten book The Theory of Moral Sentiments, illuminating Smith’s insights into technology, ambition and friendship that are as relevant today as they were in 1759."
Here are five surprising takeaways by Gary Belsky from his research.
1. Adam Smith is widely misunderstood.
2. Adam Smith was a Buddhist in the making.
3. Adam Smith understood consumers—in the 21st century.
4. Adam Smith was the first behavioral economist.
5. Adam Smith just wanted you to be happy.
Come on. Take a few minutes to follow the link and read how Gary Belsky summarises, briefly, what Russell Roberts makes of Adam Smith’s Moral Philosophy. It is in fact recognisably Adam Smith’s moral philosopy in modern American English. It might prompt you to read Smith 1759 book on ‘Moral Sentiments if you have not done so yet.
After all Russell Roberts admitted elsehwere that he had bought a copy of Smith’s “Theory of Moral Sentiments” (Liberty Press) and left it on his book shelf unread for 30 years!
Now that Russell has finally read it, he makes his interpretations of Adam’s work admirably relevant to all readers, many of whom have also not yet read Smith’ s neglected earlier other work.
I could also add that many modern economists have not read Smith’s Wealth Of Nations (1776) either. That’s why there are more myths about Adam Smith’s political economy than is sensible or safe to leave them influencing policies today.