Introduction Adam Smith’s vision of the world demonstrated glowing optimism when he founded the school of Classical Economists. Ironically, the chief spokesmen for that school — David Ricardo and Thomas Malthus — while accepting the principles which Smith laid down, differed sharply from him in their pessimistic views of an […]

Read more Summary and Analysis Chapter 4 – The Gloomy Presentiments of Parson Malthus and David Ricardo

Summary Adam Smith (1723-90), a quiet, nervous, scholarly Scottish bachelor, taught first at Oxford University and then at the University of Glasgow. He gained fame as a moral philosopher, and during his lifetime, his book The Theory of Moral Sentiments earned the critics’ appraisal as his best work. Consequently, he […]

Read more Summary and Analysis Chapter 3 – The Wonderful World of Adam Smith

Summary From the beginning of civilization, human beings have faced the challenge of survival, which depends upon two factors — work and cooperation with others. Since individuals are notably self-centered, the possibility that humans will not remain faithful to work has threatened society’s existence. If there are not enough miners […]

Read more Summary and Analysis Chapter 2 – The Economic Revolution

Summary The subject of The Worldly Philosophers, the great economists, covers those theorists whose words and thoughts concerning the creation and distribution of wealth have had a major impact on society. Indeed, these men have swayed and shaped the world. The title of the book comes from their common interest: […]

Read more Summary and Analysis Chapter 1 – Introduction

The Worldly Philosophers is a useful book — not only to college students, but to any person wishing an understanding of economics. Basically the book offers three benefits: A simple but comprehensive explanation of the ideas of the Great Economists. It gives the reader an insight into the lives of […]

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