You can imagine the tremendous amount of excitement that I, as an economics major, initially experienced after discovering that Hillsdale was offering a CCA on Adam Smith. But after attending the CCA I am extremely disappointed with the material discussed in regards to Adam Smith and his work.
Smith single-handedly transformed the world’s view of economic theory. Smith’s principles served as the foundation of the classical school of economics. No other man prior to Adam Smith ever made such a substantial contribution to this science.
I couldn’t help but walk out of the majority of the CCA lectures feeling perplexed. What basic knowledge I have about Adam Smith was not enhanced.
Expressions such as “self-interest,” “The Invisible Hand” and “free markets” are but a few that are immediately recognized and associated with Smith’s economics by almost any educated person. These elements of Smith’s capitalism were only slightly expounded upon, ambiguously described and left almost entirely undefined. These concepts remain particularly relevant in today’s analysis of public policy. That the CCA largely ignored them is a travesty.
Very little was said about his personal view of ethics and morality. Granted, the most worthy and educational lecture was on Smith’s “The Theory of Moral Sentiments” by James Otteson. His presentation accurately depicted Adam Smith’s view of morality and the concept of “self-interest.” However, no other references to Smith’s religious and philosophical inclinations — his attraction to traditional Stoicism, for instance — were made.
The author of the term “invisible hand” remains invisible in respect to his economic theory, moral sentiments and religious beliefs. It is exceptionally unfortunate that Adam Smith and his profound ideas were not given more respect and consideration in this CCA, for he fully deserves it.
