Author Topic: The Wisdom of Adam Smith for Our Own Times - Antal E. Fekete  (Read 99 times)

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The Wisdom of Adam Smith for Our Own Times - Antal E. Fekete
« on: August 11, 2014, 01:08:42 pm »
The Wisdom of Adam Smith for Our Own Times

     

- A Rejoinder -

Let us celebrate the 291st birthday of the great Scottish economist together and let us rehabilitate his Real Bills Doctrine
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Richard Ebeling in the June 3rd issue of the Daily Bell under the same title contributed a much needed reminder of the relevance of Adam Smith's wisdom to our contemporary world. I am not going to speculate whether the omission of not mentioning Adam Smith's Real Bills Doctrine was accidental or deliberate. However, it is well known that post-Mises Austrian economists have taken a disdainful view of the Real Bills Doctrine and it would have been nice to have Ebeling's coherent articulation of their position. I can do no better than revisiting Adam Smith's great contribution to the theory of money and credit (which, significantly, received the nihil obstat of Carl Menger a hundred years later) for the benefit of the Daily Bell's readership. full article...  http://www.drschoon.com/articles%5CAEFWisdomOfAdamSmithOurTimes.pdf

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