Reading Adam Smith
Adam Smith is a brilliant writer, who began as a professor of rhetoric. The first part of his book is an exercise in ideological purity. In the later parts, he contradicts much of this extreme ideology.
In the Invisible Handcuffs, I show how Smith’s famous pin factory story was a mix of plagiarism and deception.
In contrast to his Theory Of Moral Sentiments, the Wealth Of Nations was not particularly popular until the French Revolution, when the defenders of the status quo recognized the ideological value of the work, or presumably assuming that no one would read much past the first few chapters.
After the Revolutions of 1848, the age of Classical Political Economy ended. Economists became much more careful in allowing realism to seep into their works. Consequently, their work became far more sterile.