What Did Adam Smith Mean? The Semantics of the Opening Key Principles in the 'Wealth of Nations'

Wilson, Bart J.; Farese, Gian Marco

doi:10.2139/ssrn.3616328

Cited by 2 publications

(7 citation statements)

References 12 publications

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“…An explication typically consists of several lines, single lines being referred to as "semantic components," and are produced following the method of reductive paraphrase. We have already produced eight explications for the concepts and principles expressed in the Plan of Work and in Chapters I and II (Wilson and Farese 2020). Here we present four other explications which develop from the previous ones.…”

Section: Methodology Of Semantic Analysismentioning

confidence: 99%

“…For the sake of simplicity, we employ a "placeholder" exchange. This is a semantically complex concept, but we use it in its non-explicated form to reduce the length of the explications and because the complex concept has been previously explicated (Wilson and Farese 2020). The semantic reason for using exchange in its non-explicated form is that it is the conceptual common denominator of all subsequent explications.…”

Section: Methodology Of Semantic Analysismentioning

confidence: 99%

“…Adam Smith introduces his project saying:  "The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniences of life which it annually consumes…" (PW.1)  "[A]s this produce…bears a greater or smaller proportion to the number of those who are to consume it, the nation will be better or worse supplied with all the necessaries and conveniences for which it has occasion." (PW.2)  "[E]very individual who is able to work…endeavors to provide, as well he can, the necessaries and conveniences of life…" (PW.4) From Smith's diction and repetition on the first page of the book, we conclude that the following is a foundational principle in the Wealth of Nations and more generally in economics (Wilson and Farese 2020):…”

Section: Explications From the Plan Of The Work Through Chapter IImentioning

confidence: 99%

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A Universally Translatable Explication of Adam Smith’s Famous Proposition on 'The Extent of the Market'

Wilson

Farese

2020

SSRN Journal

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Following Adam Smith's line of argument, we examine the semantics of four economic principles in Chapter III of the Wealth of Nations that compose his famous proposition "that the division of labour is limited by the extent of the market." We apply the Natural Semantic Metalanguage framework in linguistics to produce a series of explications that are clear and plain, cross-translatable into any language, intelligible to twenty-first century readers, and faithfully close to the original text. Our paper explicates Smith's logical argument in Chapter III and demonstrates how his ideas can be shared among speakers with different linguacultural backgrounds in line with the truly global view of economics that, we argue, Adam Smith had in mind: economics intended as the science of all people living and doing things together with other people to live well and to feel good.

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Section: Methodology Of Semantic Analysismentioning

confidence: 99%

Section: Methodology Of Semantic Analysismentioning

confidence: 99%

Section: Explications From the Plan Of The Work Through Chapter IImentioning

confidence: 99%

See 1 more Smart Citation

A Universally Translatable Explication of Adam Smith’s Famous Proposition on 'The Extent of the Market'

Wilson

Farese

2020

SSRN Journal

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“…For the sake of simplicity, we employ a “placeholder” exchange. This is a semantically complex concept, but we use it in its non-explicated form to reduce the length of the explications and because the complex concept has been previously explicated (Wilson and Farese forthcoming). The semantic reason for using exchange in its non-explicated form is that it is the conceptual common denominator of all subsequent explications.…”

Section: Methodology Of Semantic Analysismentioning

confidence: 99%

“…An explication typically consists of several lines, single lines being referred to as “semantic components,” and are produced following the method of reductive paraphrase. We have already produced eight explications for the concepts and principles expressed in the Plan of Work and in chapters I and II of the Wealth of Nations (Wilson and Farese forthcoming). Here we present four other explications, which develop from the previous ones.…”

Section: Methodology Of Semantic Analysismentioning

confidence: 99%

A Universally Translatable Explication of Adam Smith’s Famous Proposition on “The Extent of the Market”

Wilson¹,

Marese²

2022

J Hist Econ Thought

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Following Adam Smith’s line of argument, we examine the semantics of four economic principles in Chapter III of the Wealth of Nations that compose his famous proposition “that the division of labour is limited by the extent of the market.” We apply the Natural Semantic Metalanguage framework in linguistics to produce a series of explications that are clear and plain, cross-translatable into any language, intelligible to twenty-first-century readers, and faithfully close to the original text. Our paper explicates Smith’s logical argument in Chapter III and demonstrates how his ideas can be shared among speakers with different linguacultural backgrounds in line with the truly global view of economics that, we argue, Adam Smith had in mind: economics intended as the science of all people living and doing things together with other people to live well and to feel good.

show abstract

What Did Adam Smith Mean? The Semantics of the Opening Key Principles in the 'Wealth of Nations'

Cited by 2 publications

References 12 publications

A Universally Translatable Explication of Adam Smith’s Famous Proposition on 'The Extent of the Market'

A Universally Translatable Explication of Adam Smith’s Famous Proposition on 'The Extent of the Market'

A Universally Translatable Explication of Adam Smith’s Famous Proposition on “The Extent of the Market”

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