Adam Smith and the Origins of American Enterprise: How the Founding Fathers Turned to a Great Economist's Writings and Created the American Economy / Edition 1

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"It is no coincidence what[so]ever that the nation with the most successful economy the world has known was born the very same year that Adam Smith published the greatest of all economic books, The Wealth of Nations. Roy C. Smith shows, clearly and informatively, how Smithian economics and American politics and entrepreneurship intertwined to produce that wonder called the American economy."

—John Steele Gordon, author of The Great Game and The Business of America: Tales from the Marketplace

"This is the most readable, informative, and genuinely exciting adventure in economic history that I have recently encountered."

—James M. Hester, former president of New York University

"Adam Smith's new economic ideas of 1776 appeared just in time to have maximal impact on the thinking of America's founding fathers...In this engaging economic and intellectual history, Roy Smith recounts how the United States became the most opulent of countries by putting into practice what the great Scottish economist preached."

—Richard Sylla, president of the American Association of Economic Historians

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Product Details

  • ISBN-13: 9780312325763
  • Publisher: St. Martin's Press
  • Publication date: 2/21/2004
  • Edition description: First Edition
  • Edition number: 1
  • Pages: 240
  • Product dimensions: 5.50 (w) x 8.50 (h) x 0.55 (d)

Meet the Author

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.

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Table of Contents

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