Sunday, 6 July 2008

More on Adam Smith's statue

The statue shows Smith in later life. Behind him is a ploughshare which reminds us of an economic doctrine from which Smith made great advances – the physiocrat doctrine that all wealth stemmed ultimately from agriculture. To his front is a beehive, a symbol of industry, topped by a globe on which Smith rests his hand - made invisible by his academic gown.

The two pictures below come from the blog posting A magnificent tribute by Madsen Pirie at the Adam Smith Institute blog. It was the Adam Smith Institute who organized the creation and funding of statue. The statue was funded by private donations.

Press coverage of the statue by the BBC is here, by the Scotsman here, the International Herald Tribune here, The Financial Times here, The Herald here, Bloomberg News here, The Courier here, the Galloway Gazette here, The Press Association here, The Times here and the Financial Post here.


matt b said...

Although invisible, I hope the maker went to the trouble of casting that hand! It would be a bit sad if it were revealed that invisible hand was just a charade :-)

I see a scandal brewing!

Would Smith himself have expected that unseen hand to be cast, or expected costs to be minimised? For someone aware of the difference between welfare and cost, I suspect the former.

matt b said...

Oh come on, nobody biting on the missing invisible hand theory? This has major scandal written all over it. Is there a hand? Isn't there?

This could be the new fridge light mystery ("does the light stay on?").

Paul Walker said...

Ok Matt. For you I'll see if I can find a picture of the (invisible) hand.

Paul Walker said...

We have a hand, check here.

matt b said...

Well that's a relief. :-)