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    Alex M. Thomas

    Assistant Professor

    Azim Premji University, Bengaluru

    Adam Smith is still relevant. But not for the reasons they taught us in school and college

    TRENDS

    Adam Smith is still relevant. But not for the reasons they taught us in school and college

    Adam Smith was no free market apologist. He recognized the discontents of liberal capitalism: That the employers wield more power than the workers. That ‘division of labour’ is limited by the ‘extent of the market’. That is, technological progress by itself cannot drive economic growth. That ‘division of labour’ is often repetitive work that has negative consequences on their cognitive capacity.

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