Adam Smith

Father of Economics

By: Jesse Norman

Narrated by: Jesse Norman

A dazzlingly original account of the life and thought of Adam Smith, the greatest economist of all time.

Adam Smith (1723-1790) is now widely regarded as the greatest economist of all time. But what he really thought, and the implications of his ideas, remain fiercely contested. Was he an eloquent advocate of capitalism and individual freedom? A prime mover of "market fundamentalism"? An apologist for human selfishness? Or something else entirely?

In Adam Smith, political philosopher Jesse Norman dispels the myths and caricatures, and provides a far more complex portrait of the man. Offering a highly engaging account of Smith's life and times, Norman explores his work as a whole and traces his influence over two centuries to the present day. Finally, he shows how a proper understanding of Smith can help us address the problems of modern capitalism.

The Smith who emerges from this audiobook is not only the greatest of all economists, but a pioneering theorist of moral philosophy, culture, and society.

©2018 Jesse Norman (P)2018 Hachette Audio

Critic reviews

"[Norman's] book is partly devoted to rescuing Smith from the misconceptions and simplifications of his fans, and trying to capture the real range and complexity of his thought...something badly needed in British politics." (Times Higher Education)

"Jesse Norman provides two outstanding biographies for the price of one: a beautiful and original account of Adam Smith's life, well grounded in the epochal events of the eighteenth century enlightenment; and a penetrating and fresh account of the subsequent life of Smith's main idea, the central role of exchange in shaping human society." (Matt Ridley, author of The Evolution of Everything)

"Adam Smith is often associated with the powerful idea of the 'invisible hand' of the market, which became the bedrock of modern economics. But this brilliant idea doesn't come close to doing justice to his thinking. He anticipated how the unchecked power of employers can lead to monopoly, inefficiency and inequality. He understood how political systems that restrain rulers and the privileged are crucial for a healthy society and vibrant economy. He fully recognized, in contrast to how he is sometimes remembered in popular discussions, the complexities of ethical behavior and responsibilities. This wonderfully readable book by Jesse Norman brings Smith's sophisticated, eye-opening philosophy to modern readers." (Daron Acemoglu, coauthor of Why Nations Fail: The Origins of Power, Prosperity, and Poverty)

Rich and Balanced

This was a great read, but deep and rather slow-moving early on. Once you get in the groove though, you won’t put it down! Very thoughtful, applicable, and well balanced review of Adam Smith and his ideas.

Must read for global macro investors

A must read for global macro investors, answered lots of questions about free trade system

Most excellent book!

From Bacon and Newton, to John Stewart Mills, Keynes, Friedman, Thaler and Freakonomics. The book solidly sets up the context by outlying the social, economic and political conditions of the times and constantly compares and shows how Smith's work is relevant in our current day.

Insightful into the mind of Economic Man

Social philosophy at its best. Incredibly well written. Erudite author on erudite thinker. Enjoyed it.

A humanistic take on Adam Smith.

All those who think, and believe they know who Adam Smith was, should listen to or read this book.

It was fine

. Thought I would get more out of it. I feel like I know the guy, but I found the structure of the book not fulfilling. Glad I read but glad it is done.

Accurate Representation, but Disorganized and Non-Critical

The author did a good job staying accurate to Adam Smith’s thoughts. He explains that Smith was not a pure laissez-fairest nor a true libertarian. His sociological analysis and economics led him to support a more conservative, guided market with some significant government involvement. He also represented Smith’s approach/method of econimics well (theory mixed with the context of history/institutions, rather than purely theoretical)

However, the organization and conciseness of the book was missing. During the biographical portion, the author delved a little too deeply into some philosophical topics which were only to be repeated later in the book. And in the second part on Smith’s ideas, he often jumped back and forth to different topics with no real connection or categorization. This made the book difficult to follow and as though Smith’s ideas are not integrated into a whole theoretical system (and the author argues that he does have one coherent and consistent system).

My last critique is more out of disagreement with the author’s arguments/opinions than with the book. But I found the author to be much too in agreement with Smith. If any reader is looking for a more balanced analysis to Smith’s ideas—one that is not in such agreement but argues against them—this is not the book for you. There is essentially no critique of Smith’s ideas, and the author has many comments on economics and society that I, as an Austro-libertarian, very much disagree with.