Abstract
Adam Smith pointedly ignored Sir James Steuart in the Wealth of Nations. Both men came from Scotland but Smith was pro-English while Steuart was a nationalist. Steuart supported the rebellion in 1745 and paid for it with an 18-year exile. Because of Smith’s influence, Classical economists disregarded Steuart. Smith thought he was protecting the world from ‘Steuart’s errors’. In fact, he was denying the world the chance to learn survival-conditions analysis. At the beginning of his Principles, Steuart defined the science of political economy in the following words:
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© 2007 Palgrave Macmillan, a division of Nature America Inc.
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Goalstone, D. (2007). Rehabilitation Of Classics. In: Macrofoundations of Political Economy and Development. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230604315_20
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DOI: https://doi.org/10.1057/9780230604315_20
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-349-53689-4
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