My favorite books on the Adam and smith of modern economics (and the social sciences for that matter)

Phillipson’s book is, for us, the best intellectual biography about Smith.

It provides a balanced overall account of Smith’s economics and wider thought and traces their origins and evolution back to the places where Smith lived. It is a very fine read indeed. Quite possibly it is the most insightful book yet on Smith’s life and work.

It is a must-read for Smith scholars. It is also an important corrigendum to the many accounts that describe Smith as an absent-minded professor, somewhat detached from the world. Phillipson argues convincingly that Smith, while he may have had Asperger’s, was a man of the world, a very competent administrator in academic and other matters, and a much sought-after policy advisor at the highest level.

Part of the series meant to cater to “those new to philosophy” while also being “essential reading for those interested in the subject at any level.” It’s a little bit like squaring the circle. But Fleischacker (also the author of an excellent book on Smith’s Wealth of Nations almost twenty years back) manages to do so.

There are two ingredients that make Fleischacker’s latest book such a must-read. First, his ability to synthesize complicated issues (such as what distinguishes Smith’s and Hume’s theories of self-command) in language accessible to motivated laypeople. Second, his outstanding scholarship.

Fleischacker really knows his stuff, as reflected in the richness of the footnotes to each of the chapters. Many of them are little gems and literature reviews of consistently high quality.

Ryan Patrick Hanley is a Great Enlightenment scholar and one of the very best scholars on Smith (see also his Adam Smith and the Character of Virtue).

Focusing on Smith’s moral philosophy and especially on his description of the excellent character (cultivating prudence, justice, self-command, and beneficence), Hanley offers us a different and unknown picture of Smith, one of a man who was deeply concerned with, and who can still offer us deep insights into, how to live a better life and reach that “great purpose” we all strive for, happiness.  

This handbook, edited by three well-known Smith scholars, follows on from a conference organised for the 250th anniversary of the publication of Smith’s Theory of Moral Sentiments although it is not a proceedings volume.

The book has seven parts, each part featuring four chapters. These 28 chapters cover all bases, from an introductory outline of life, times, and legacy, over the importance of Smith’s unpublished work, the importance to Smith of rhetoric, ethics, aesthetics, theatre, and fashion, to Smith’s view on commerce and morality, his view on religion, and Smith’s legacy and influence, among many other topics.

Smith is generally considered as the father of economics, laying its foundations in the eighteenth century.

But he can also be an inspiration for rethinking economics (providing more realistic assumptions about human conduct) and laboratory experiments in the twenty-first century, helping us to build a new “Humanomics” (see also McCloskey’s two books on this subject). That’s what Vernon Smith (Nobel Prize in Economics in 2002) and Bart Wilson convincingly argue for in their uncommon and innovative book. Smith is still alive (and well alive) today.