Adam Smith, the Adam Smith problem and his influence

Adam Smith, the Adam Smith problem and his influence

Annette Godart-van der Kroon

Abstract         In this essay the following elements are described: 1. The central ideas of Adam Smith on Liberalism, 2. Smith’s connection with other contemporaries, 3. the Adam Smith problem, 4. the invisible hand, 5. the interpretation of Hayek and von Mises of the theories of Adam Smith, 5. the influence of Adam Smith and reactions on his theories.

JEL Codes     A 20, B12, D40, D02, H40, N13, P10

Keywords       Liberalism, the state, mercantilism, invisible hand, the Adam Smith Problem