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Adam Smith has morality baked into his works pretty solidly. Not sure I would see that decoupling as classic economic thinking.
by RandomLensman 4y ago
Adam Smith has morality baked into his works pretty solidly. Not sure I would see that decoupling as classic economic thinking.
- college_physics 4y agoAgree... I think I would put Adam Smith in the paleoclassical bucket as distinct from the neoclassical one.
- importantbrian 4y agoThe problem is terms like neoclassical already have established meaning in the field of economics, so it's probably best to use those terms in order to avoid confusion. Adam Smith is pretty much the father of classical economics, and most of the classical economists were doing works of political economy. The vast majority of them are very much concerned with the morality of the systems they advocate for. Neoclassical economics is most of the mainstream economists that come after Keynes up until the stagflation in the 70s. Now we have new classical economics, new Keynesian economics, and the new neoclassical synthesis. It gets pretty messy, but I'm not sure adding new terminology that has different meaning to the established terminology is particularly helpful.