Minding the Gaps: Reality, Theory, and Policy in Adam Smith.

The article explains Adam Smith's book "The Wealth of Nations" as a theoretical treatise and political tract. Topics discussed include the gap between political economic analysis and practical matters of politics or economic policy, Smith's liberal plan and his concern with political feasibility, the gap between economic theory, policy and reality, sociological and psychological dimensions of theory, the merchant theory of balance of trade, and sociological aspects of inquiry.