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ADAM SMITH AND ECONOMIC DEVELOPMENT IN THEORY AND PRACTICE: A REJECTION OF THE STADIAL MODEL?

ADAM SMITH AND ECONOMIC DEVELOPMENT IN THEORY AND PRACTICE: A REJECTION OF THE STADIAL MODEL? Adam Smith allegedly offers a model of economic development in both his Lectures on Jurisprudence and the Wealth of Nations—the so-called four stages of development model. The model presents a linear unfolding view of economic development from primitive to advanced stages. But Smith’s own historical examples systematically contradict this model. I thus question whether Adam Smith actually endorses and uses the four stages model of development to illustrate development and suggest that if he does, he does it to discredit it instead. For Smith, history teaches that development is more accidental than fitting deterministic models. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the History of Economic Thought Cambridge University Press

ADAM SMITH AND ECONOMIC DEVELOPMENT IN THEORY AND PRACTICE: A REJECTION OF THE STADIAL MODEL?

ADAM SMITH AND ECONOMIC DEVELOPMENT IN THEORY AND PRACTICE: A REJECTION OF THE STADIAL MODEL?

Journal of the History of Economic Thought , Volume 44 (1): 10 – Mar 1, 2022

Abstract

Adam Smith allegedly offers a model of economic development in both his Lectures on Jurisprudence and the Wealth of Nations—the so-called four stages of development model. The model presents a linear unfolding view of economic development from primitive to advanced stages. But Smith’s own historical examples systematically contradict this model. I thus question whether Adam Smith actually endorses and uses the four stages model of development to illustrate development and suggest that if he does, he does it to discredit it instead. For Smith, history teaches that development is more accidental than fitting deterministic models.

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Publisher
Cambridge University Press
Copyright
© The Author(s), 2022. Published by Cambridge University Press
ISSN
1053-8372
eISSN
1469-9656
DOI
10.1017/S1053837220000309
Publisher site
See Article on Publisher Site

Abstract

Adam Smith allegedly offers a model of economic development in both his Lectures on Jurisprudence and the Wealth of Nations—the so-called four stages of development model. The model presents a linear unfolding view of economic development from primitive to advanced stages. But Smith’s own historical examples systematically contradict this model. I thus question whether Adam Smith actually endorses and uses the four stages model of development to illustrate development and suggest that if he does, he does it to discredit it instead. For Smith, history teaches that development is more accidental than fitting deterministic models.

Journal

Journal of the History of Economic ThoughtCambridge University Press

Published: Mar 1, 2022

References