Monday, September 17, 2007

Adam Smith Was Interested and knowlegable About China

In a PR sheet from (PR-GB) we get a piece on the Internet in China:
Internet is growing in China’ (written by EditorsChoice, 16 September)

Adam Smith, the Scottish economist and philosopher from the 18th century, who wrote the ‘Wealth of Nations’ and is considered the father of capitalism, could never think of China as a place where he would be admired and respected for his economic thoughts.. Global Scan found that 74% of the Chinese population believes that the market economy is the best system for the future development of the world. This is a great surprise if we take into consideration that just 25 years ago, the Chinese government was the only master in economic issues.

Adam Smith as many modern economists never dreamed of China as one of the leading capitalist minded countries in the world. Capitalism and Adam Smith are well known among Chinese people nowadays.

The article is here.

This is not a serious piece about Adam Smith and China. In Wealth Of Nations he mentions China on several occasions, describing it as the richest country in the world but a stagnant one, its stagnation caused by the limitations of its soil and climate and the nature of its laws and institutions that permit it, but with different laws and institutions it could continue its progress towards opulence [see: WN I.viii.24-26: pp 89-91].

This is virtually the opposite of what 'editors choice' asserts about him and alleges he would be surprised about.

He says much more as well, but that requires that the author read his books instead of press releases from people who haven’t read them either.


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