Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324938 
Authors: 
Year of Publication: 
2023
Citation: 
[Journal:] Journal of Contextual Economics – Schmollers Jahrbuch [ISSN:] 2568-762X [Volume:] 143 [Issue:] 1/4 [Year:] 2023 [Pages:] 173-196
Publisher: 
Duncker & Humblot, Berlin
Abstract: 
"Adam Smith's science of the legislator and the "virtues of the statesman" are understood as a kind of higher order-liberalism, coming close to what Colander and Freedman call "the liberal methodology" pertinent to the role of economics in policy-making. Evolving socio-economic heterogeneities, the dynamism of specialisation and politics require a kind of dynamic, open, and contextual second-best approach, based on acknowledging the limits of system and historical contingencies - incompatible with technocratic scientism, utopian perfectionism, and reckless experimentation. I discuss reasons why the science of the legislator "died" (D. Winch), and did not become part of the modern mainstream, even though it has been re-invented time and again.
Subjects: 
Adam Smith
System of Natural Liberty
Mercantile System
Man of System
Science of the Legislator
Second-Best Liberalism
JEL: 
B1
B3
B4
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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