Was Adam smith a socialist?

Almost everyone is a socialist. Society exists because we do better by cooperating. The idea of a market based economy was an abstraction to Smith. He did not think we should implement it. He believed in labor theory of value. read more

Adam Smith was a pre-capitalist classical economist so the term doesn't really apply . He's also generally misrepresented. But his work has a great influence on the socialists economists , especially the Smithian/Ricardian socialists : Thomas Hodgskin, John Francis Bray , William Thompson (philosopher). read more

Adam Smith was a thinker that comes around only once every one hundred years. although Adam Smith did not mention socialism by name is stance was clear. read more

Smith’s thought was this mixture of science and a mere cataloguing of external phenomena. Defenders of the capitalist system draw on the latter, and love to quote from his superficial descriptions of the marketplace, but socialists can thank Adam Smith for taking an important step towards an understanding of what makes capitalism tick. read more