"It is worth remembering that Adam Smith, the founder of classical economics, was first and foremost a philosopher. He strove to be a moralist and in doing so, became an economist. When he published The Theory of Moral Sentiments in 1759, modern capitalism was just getting under way. Smith was entranced by the sweeping changes wrought by this new force, but it wasn’t just the numbers that interested him. It was the human effect, the fact that economic forces were vastly changing the way a person thought and behaved in a given situation. What might lead one person to cheat or steal while another didn’t? How would one person’s seemingly innocuous choice, good or bad, affect a great number of people down the line? In Smith’s era, cause and effect had begun to wildly accelerate; incentives were magnified tenfold. The gravity and shock of these changes were as overwhelming to the citizens of his time as the gravity and shock of modern life may seem to us today."
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Classical economistsAcademics from ScotlandPhilosophers from ScotlandEconomists from ScotlandSociologists from Scotland
Original Language: English
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Sources
Steven D. Levitt and Stephen J. Dubner, Freakanomics, Introduction: The Hidden Side of Everything
https://en.wikiquote.org/wiki/Adam_Smith
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Adam Smith
1723 – 1790
schottischer Moralphilosoph und Ökonom
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