Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
But his conquest of Germany was equally startling and momentous. The
movement in that country can be directly traced to the university of
Königsberg, where Kraus began to lecture on the _Wealth of Nations_ in
1781. He soon gained the ears of the official class. In East Prussia,
vexatious dues and taxes, with a multitude of feudal embarrassments,
were removed from internal commerce, and in spite of much opposition
Smith’s principles spread all over Germany. By the close of the
Napoleonic war the officials as well as the professional economists were
converts to the new ideas. Stein and Hardenberg, two truly great
reformers, led the way. Year by year commercial restrictions were
removed, and though jealousy of Prussia stood in the way of complete
commercial union, the North German Zollverein constituted a great
advance. It removed the barriers between Prussia and the adjoining
States, and reduced external duties to such an extent that in 1827
Huskisson cited the example set by Germany to prove the wisdom of
abandoning a restrictive policy. Even Friedrich List, who sought for
political reasons to build up a counter theory of protection for infant
industries, asserted that free trade was the right policy for England
and for every adult nation. List, who often wrote with a bitterness and
malice that only readers of his unhappy life can excuse, admitted in his
principal work “the great services of Adam Smith”:—
“He was the first to introduce successfully into political economy the
analytical method. By means of this method and of an unusual sharpness
of intellectual vision he illuminated the most important branches of a
science, which before his time had lain in almost utter darkness.
Before Adam Smith there was only a policy (Praxis); his labours first
made it possible to build up a science of political economy; and for
that achievement he has given the world a greater mass of materials
than all his predecessors and successors.”
Public-domain text, read in full here on John Shaqi.
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