Abstract
Despite his emphasis on economic development, Adam Smith did not participate in the contemporary “rich country–poor country” debate. Some see the absenteeism as a deficiency, while others assume that Smith propounds a theory of uneven development and agrees with the divergence argument. In this article, Smith's own theory is expounded and related to the contentious points of the “rich country–poor country” debate. It is concluded that Smith's theory does not fit easily into the categories of this debate. He rather takes up a third position, being neither a proponent of pure convergence nor of pure divergence.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: The European Journal of the History of Economic Thought
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.