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SLAVERY, ADAM SMITH'S ECONOMIC VISION AND THE INVISIBLE HAND
Smith was against slavery on moral and economic grounds. The "invisible hand" in societies which allow slavery, operates in such a way that increases in the wealth of the rich, leads to increased misery for the poor free citizens as well as for the slaves themselves. It seems that the bene...
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Published in: | History of economic ideas 1996-01, Vol.4 (1/2), p.253-269 |
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container_title | History of economic ideas |
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creator | Pack, Spencer J. Dimand, Robert W. |
description | Smith was against slavery on moral and economic grounds. The "invisible hand" in societies which allow slavery, operates in such a way that increases in the wealth of the rich, leads to increased misery for the poor free citizens as well as for the slaves themselves. It seems that the beneficial workings of the "invisible hand" are dependent upon commercial societies which are not based upon the institution of slavery. The appendix demonstrates that Smith in the Wealth of Nations was responding to a false report of the supposed manumission of the slaves by the Quakers of Pennsylvania. |
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identifier | ISSN: 1122-8792 |
ispartof | History of economic ideas, 1996-01, Vol.4 (1/2), p.253-269 |
issn | 1122-8792 1724-2169 |
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source | JSTOR Archival Journals and Primary Sources Collection |
subjects | Capitalism Freedom Invisible hand theorem Manumission Pessimism Quakers Slave ownership Slavery Slaves Wealth |
title | SLAVERY, ADAM SMITH'S ECONOMIC VISION AND THE INVISIBLE HAND |
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