Adam Smith was aware of the way that economic interests could have a distorting and destructive effect both on the market and on politics.
Allen W. WoodIt is sad to witness the persistence in our society of the racism and xenophobia that seems to be a permanent part of our political culture. It is shameful to see politicians exploiting these human weaknesses in order to gain political power. It is most depressing of all to contemplate a future in which politicians who do this will continue to have influence over people's lives.
Allen W. WoodWhat Smith and Marx have in common is that they were both philosophers of great vision and perceptiveness, deep humanity, and a sense of social reality that has been lost in the abstractly formalistic economic theories that have dominated the field since the last third of the nineteenth century.
Allen W. Wood