Adam Smith and the Origins of American Enterprise How the Founding Fathers Turned to a Great Economist's Writings and Created the American Economy

by Smith, Roy C.

• ISBN13: 9780312325763
• ISBN10: 0312325762
• Edition: Reprint
• Format: Paperback
• Copyright: 2004-02-21
• Publisher: Griffin

Summary

Adam Smith was a Scottish professor of moral philosophy. He published his classicThe Wealth of Nationsin 1776, the year the American Revolution began. Smith became widely known for his ideas of free markets, laissez-faire commerce, and the "invisible hand." Yet English politicians, landed gentry, and the nobility paid little attention and enacted none of Smith's suggested reforms. The American colonies, however, began their existence as an independent nation in 1781 with no money, no industry, no banks, and deep in debt. The Founding Fathers-particularly Alexander Hamilton, James Madison, and Benjamin Franklin-turned to the ideas of Adam Smith to create and jump-start an economic system for America with both immediate and long-sustained results. This little-known but vital part of U.S. history is now revealed in Roy C. Smith's highly readable new book.

Author Biography

Roy C. Smith, an Annapolis graduate, was an investment banker at Goldman Sachs for twenty years and has been a professor of entrepreneurship and finance at New York University's Stern School for the past fourteen years. He is the author of several books, including The Global Bankers, The Money Wars, and The Wealth Creators. He lives in Montclair, New Jersey.

Table of Contents

Introduction	p. ix
Enlightenment and the New Economics	p. 1
Who Was Adam Smith?	p. 10
The British Economic System	p. 24
The American Question	p. 40
The Enlightenment Comes to America	p. 51
Colonial Enterprise	p. 54
Four Separate Economies	p. 58
Economic Growth in the Colonies	p. 73
Sociologies	p. 79
Colonial Wealth	p. 84
War and Independence	p. 89
War and Transition	p. 91
Creating a New Government	p. 105
Implementing a Constitution	p. 116
Early American Enterprise	p. 125
Hardening the Template	p. 135
American Economic Strategies	p. 144
Four Pillars of Enterprise	p. 150
Mid-Century Opulence	p. 166
Nothing Like It in the World	p. 175
Epilogue	p. 201
Notes	p. 215
Index	p. 219
Table of Contents provided by Rittenhouse. All Rights Reserved.

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