Economics and Finance

Adam Smith's thought was indebted to the classical training prevailing in the educational system of his day. A careful reading of all his writings can prove the extent of this debt. Classical influences are obviously more numerous and easily discernible in the philosophical works, but are not absent from the economic masterpiece. They have been described by the author without having recourse to conjectures or implications, rather by analysing the topics whose classical origin can be ascertained. The book has been divided into chapters devoted to the traditional branches of knowledge treated by Adam Smith: natural philosophy, ethics, jurisprudence, economics, literature; plus a postscript.

Smith was not only influenced by classical doctrines but he also selected from them arguments

suited to support his own ideas.

Adam Smith's System is a study in classical economic thought and methodology. It portrays Adam Smith as a Stoic philosopher who wanted virtue to be relevant to this life rather than to the next. His central purpose was to define a set of laws, a jurisprudence in the widest possible sense, which would permit economic and political liberalism to proceed without triggering long‐run moral degeneration. Smith argued that the conflict between morals and wealth was only apparent, because it was possible to synthesize the seeming contraries with better laws and moral rules.

All of Smith's writings are analysed, including his writings on morals and methodology, art and rhetoric, and his political and economic writings. The relevance of Wealth of Nations is analysed, and Smith's theories of free trade and economic growth are put into context. It is shown that Smith was primarily concerned with the very broad intellectual endeavour to replace the Aristotelian world‐view, the bulwark and inspiration of medieval Christian thought, with an outlook that was more consistent with Newtonian science.

Throughout its history as a social science discipline, demography has been associated with an exclusively quantitative orientation for studying population problems. An important outcome of this is that demographers tend to analyse population issues scientifically through sets of fixed social categories that are divorced from their embeddedness in dynamic relationships and in varied local contexts and processes. The collection of essays in this volume questions these fixed categories in two ways: firstly, by examining the historical and political circumstances in which such categories have their provenance, and secondly, in reassessing their uncritical applications over space and time in a diverse range of empirical case studies. Reflexive questioning is achieved by encouraging a constructive interdisciplinary dialogue involving anthropologists, demographers, historians, and sociologists.

This volume seeks to examine the political complexities that lie at the heart of population studies, through a focus on category formation, category use, and category critique. It is shown that this takes the form of a dialectic between the needs for clarity of scientific and administrative analysis and the recalcitrant diversity of the social contexts and human processes that generate population change. The critical reflections on the established categories in each of the essays included here are enriched by meticulous ethnographic fieldwork and historical, archival research, drawn from all the continents. The essays collected here, therefore, exemplify a new methodology for research in population studies, which does not simply accept and use the established categories of population science, but seeks critically and reflexively to explore, test, and re‐evaluate their meanings in diverse contexts. The essays show that for demography to realise its full potential, there is an urgent need to re‐examine and contextualise the social categories used today in population research.

This is a book about the discovery of macroeconomic ideas and concepts long before the term macroeconomics had been coined. The cast of authors varies from doctors and physicians (Sir William Petty and François Quesnay), to philosophers (David Hume and Adam Smith), to bankers (Richard Cantillon and Henry Thornton) to Prime Ministers of France (John Law and Anne Robert Jacques Turgot). These authors had very rich and varied careers and the book re-creates specific moments in their careers that influenced both their lives and their writings. Building on these events the contributions of each author are outlined and discussed. Examination of their writings show that by the start of the 19th century they had left a rich legacy of macroeconomics ranging from the analysis and measurement of national income, the depiction of the circular flow of income, the debate on the role of money in the economy, the way to model the economy, the importance of labour, land and capital, the role of entrepreneurship, the Central Bank as a lender of last resort, and much more.

This book presents the work of one of the most important economists of the second half of the 20th century, Jacob Mincer. Mincer played a central role in shaping contemporary labor economics, namely through his pioneering work in human capital and labor supply analysis. The book presents a systematic analysis of all his extensive published work, emphasizing its continuity as a lifetime research program that had a lasting influence in modern labor economics. The analysis also highlights his main theoretical and methodological traits that make his research so unique.

Custom is an integral part of the institutional matrix of modern economies. Market processes hinge crucially on custom, which in turn affect these processes. The book proposes a theory of custom that emphasizes the motivational force that arises from the individual's striving for coherence and justification. It depicts custom as comprising habitual, cognitive, and emotional aspects and explains that market transactions rely on customary entitlements and obligations. The motivational force of custom emerges from a preference for regularity and a desire for coherence that tie cognition, emotion, and action together. The view is applied to the theory of property, the theory of the law, the theory of the firm, and the problem of the division of labour and the conditions under which that division of labour is better organized by the firm or by the market.