The Entanglement of Government Political Philosophy and the Intellectual Foundations of Liberal Economics in the Opinion of Adam Smith

Document Type : Research Paper

Authors

1 Associate Professor of Public Law Department, University of Tabriz. Iran

2 PhD Candidate of Public Law, University of Tabriz, Iran

Abstract

The debates that are being made today under the headings of classical economics and its inherited liberal system emphasize the role of the industrial revolution in the formation of this system, while it seems; For a correct understanding of ideas and semantics, concepts such as; The "invisible hand" and "free economy" left behind by the founders of this economic system, especially Adam Smith, must be considered in the political-legal and even moral nature of the system. For this reason, this study tries to examine some of the basic features of the English constitutional system of the Smith era, such as; The concept of "state", "public interest", "freedom" and their subsequent evolution, to the question of what factors played an important role in the emergence of the theoretical foundations of liberal economics by Adam Smith and the theorists after him? Give the right answer. The results show that the key concepts of classical economics emphasized by Adam Smith were, in fact, prescriptions for the elimination of the immoral-political effects that the newly established post-revolutionary constitutional system inevitably had on economics because of its rejection of the old traditions of feudalism. British politics imposed. Thus, although his intellectual reflections are understood today in a different sense from their original reading by the neoclassicists and others, because these intellectual foundations created a meaningful closeness and alignment between the British political and economic system, it is still the case. They are the focus of Western economists, and their economic system, despite the evolutionary trends after classical economics, has so far maintained a system based on "individualistic" principles.

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References

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Journal of Philosophical Investigations
Volume 17, Issue 43 - Serial Number 43
Articles
2023
Pages 256-276

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