Autore
Fiori, StefanoTitolo
Adam Smith's NewtonianismPeriodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper seriesAnno:
2010 - Volume:
7 - Fascicolo:
6 - Pagina iniziale:
1 - Pagina finale:
30Smith was certainly influenced by Newton’s analytic-synthetic method, and by his notion of “principle”.
Nonetheless, in many fields of Smith’s inquiry he introduced elements which led him far from the Newtonian perspective. The present essay analyzes how historical dimensions, contingencies, institutions and conflicting human inclinations intervene in Smith’s discourse explaining economic systems. From this perspective, the intellectual Newtonian horizon seems to be profoundly modified. Finally, the paper focuses on how, in Smith’s view, institutions
determine “unintended outcomes”, sometimes opposed to those of the market, when the reasons for their emergence have ceased but nevertheless persist over time. In this sense, the “invisible hand” is not only the result of the behaviour of myopic individuals trying to improve their condition, but also the outcome of the work of institutions which operate as structures autonomous with respect to individuals
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