The Present State and Future of Study Regarding Adam Smith's Thought

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  • アダム・スミス研究の現状と将来
  • アダム スミス ケンキュウ ノ ゲンジョウ ト ショウライ

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The viewpoint that the ideas described The Wealth of Nations is consistent with the labor theory of value has been rejected by all the schools of economics except for a few Japanese in the 1940's, who called Smith's thought a civil society idea. Afterwards, Y. Uchida and N. Kobayashi disputed this idea, but overlooked the point that Smith's commercial society was devoid of capital-stock. If this is the case, his labor theory of value in that society can be taken as an abstraction from his capitalist society. All the studies of his value theory as well as Marx's have missed this. Smith's added-value theory is applied to the theory of productive labor and the employment of capital, and so his criticism of the mercantile system.<br>Theory of Moral Sentiments is taken not only as a passion theory but as an action theory. Although we can see the relation between both works, the overseas Adam Smith Rennaissance since 1976 disregards these viewpoints. But lately D. Winch and J. M. Buchanan have noted Smith's productive labor, thus his value theory may be reestimated, at which time the actual Adam Smith Rennaissance will start. In the case of Japanese studies on Smith, the civil society idea has long been accepted, but now its revision is needed because for the above reasons.

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