Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
Perhaps what most impresses one in reading the _Wealth of Nations_ is
its pre-vision. The author seems to have been able to project himself
into the centuries. He saw the blades of wheat as well as the tares that
were springing up; and it would be hard to mention a single one of his
forecasts and Utopias that has not been realised in some degree, or at
least taken shape as a political project during the last century. He
was, of course, above all, the precursor of Cobden and of the
philosophic Radicals, who drew from him not only their economics, but
their foreign and colonial policy. It is perhaps remarkable, after so
fair a beginning had been made in his own lifetime, that the triumph of
his doctrines was so long delayed. But most of what Shelburne, Pitt, and
Eden did for commercial emancipation in the eighties was swept away by
the French war. And when Napoleon fell, England was so weak, tyranny and
superstition were so ground into the principles of her governing
classes, that she seemed to be, in Milton’s phrase, beyond the manhood
of a Roman recovery. For many years Smith’s disciples, and even the
indefatigable Bentham, laboured almost in vain. Parliament was ignorant
and bigoted. Until a great agitator arose, very little could be done;
and the great agitator did not arrive quite soon enough to fulfil
Pulteney’s prediction that Smith would convert his own generation and
rule the next.
In the early years of the nineteenth century the practical influence of
Smith’s teaching was felt principally in France and Germany. In France,
as we have seen, Count Mollien was a professed disciple of the new
economy. “It was then,” he said, in reviewing the events of his youth,
“that I read an English book which the disciples M. Turgot had left
eulogised in the highest terms—the work of Adam Smith. I had especially
remarked how warmly the venerable and judicious Malesherbes used to
speak of it—this book so disparaged by all the men of the old routine.”
It is perhaps the most dazzling of all Smith’s posthumous triumphs, that
he, through Mollien, should have been the philosophic guide of
Napoleonic finance.
Public-domain text, read in full here on John Shaqi.
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