BY THE TIME Adam Smith’s An Inquiry Into the Nature and Causes of the Wealth of Nations appeared on March 9, 1776, the American colonies were in a state of revolt and the British authorities were furiously debating what was to be done. Smith’s Wealth of Nations presented two options.
The first option was to let the colonies go. The second was to unify the American colonies with Britain the way Scotland had been united with England. Smith himself was Scottish and, looking back, was very glad of the 1707 Acts of Union, whereby Scotland quit its parliament in Edinburgh and henceforth sent parliamentarians to Westminster. In Wealth of Nations, Smith suggested the same course for the American colonies. He proposed that Americans send parliamentarians to sit as equals in Westminster. Just as Scotland belonged to Great Britain, so now would those erstwhile American colonies which opted in. Smith’s proposal did not specify a new name for the enlarged constitutional state, but Smith foresaw with remarkable accuracy that a new name would, in time, be in order.
But did Smith propose such a union in earnest? There was an outpouring of ironic writing in mid–18th
century Britain, as Wayne C. Booth notes in his 1974 study, A Rhetoric of Irony. Likewise, as Arthur M. Melzer explains in 2014’s Philosophy Between the Lines: The Lost History of Esoteric Writing, writing between the lines was pervasive up to the end of the 18th century.
Smith was no stranger to irony. His first publications in 1755 in the Edinburgh Review contained sly digs and satire. Such devices abounded in his 1759 book, The Theory of Moral Sentiments. Wealth of Nations is more straightforward, but it still has its sly moments and undercurrents.
Denne historien er fra July 2023-utgaven av Reason magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2023-utgaven av Reason magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Libertarianism From the Ground Up
ARGUMENTS FOR LIBERTARIANISM typically take two forms. Some libertarians base their creed on natural rights-the idea that each individual has an inborn right to self-ownership, or freedom from aggression, or whatever-and proceed to argue that only a libertarian political regime is compatible with those rights.
Lawlessness and Liberalism
THE UNITED STATES is notorious both for mass incarceration and for militarized police forces.
Politics Without Journalism
THE 2024 CAMPAIGN WAS A WATERSHED MOMENT FOR THE WAY WE PROCESS PUBLIC AFFAIRS.
EVERY BODY HATES PRICES
BUT THEY HELP US DECIDE BETWEEN BOURBON AND BACONATORS.
The Great American City Upon a Hill Is Always Under Construction
AMERICA'S UTOPIAN DREAMS LEAD TO URBAN EXPERIMENTATION.
Amanda Knox Tells Her Own Story
\"OUR CRIMINAL JUSTICE SYSTEM RELIES UPON OUR OWN IGNORANCE AND THE FACT THAT WE DON'T KNOW WHAT OUR RIGHTS ARE.\"
Trade Policy Amnesia
WHILE HE WAS interviewing for the job, President Joe Biden demonstrated an acute awareness of how tariffs work. It's worrisome that he seems to have forgotten that or, worse, chosen to ignore it-since he's been president.
Civil Liberties Lost Under COVID
WHEN JOE BIDEN was sworn in as president in January 2021, he had good reason to be optimistic about the trajectory of the COVID-19 pandemic.
Bye, Joe
AMERICA'S 46th president is headed out the door. After a single term marked by ambitious plans but modest follow-through, Joe Biden is wrapping up his time in office and somewhat reluctantly shuffling off into the sunset.
Q&A Mark Calabria
IF YOU HAVE a mortgage on your home, the odds are that it's backed by one of two congressionally chartered, government-sponsored enterprises (GSES), Fannie Mae and Freddie Mac.