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Management Services Winter 2012


complete new way of how we need to look at the world and prepare for the future.” Sir James’s lecture was both interesting and thought provoking but perhaps the most impressionable thing about him, apart from his academic and career accomplishments, is his unquestionable passion for helping the world’s poor.


Publication of new edition of Smith’s seminal work ‘The Wealth of Nations’ The Kirkcaldy Edition.


Adam Smith returned to Kirkcaldy to write his book – widely regarded as one of the fi ve most important books ever written – but actually buying a copy of The Wealth of Nations has not been easy. Until now, that is!


Adam Smith’s The Wealth of Nations, which has infl uenced governments and shaped modern economics, is back in print. First published in 1776, the same year as the Declaration of Independence in America – and many would argue that it is the more important of the two – An Inquiry into the Nature and Cause of the Wealth of Nations – to give it its full title – has a unique Kirkcaldy edition, launched to coincide with the unveiling of the Adam Smith Global Foundation. The fi rst copies were available for the start of the fi rst Smith symposium in the town which included an address by Fonna Forman, editor of the Adam Smith Review, and assistant professor of political science at the University of California. The fact that Professor Forman was in Kirkcaldy – along with other eminent Smith afi cionados including Nobel Prize Winner in economics, Vernon L Smith; Iain McLean, professor of politics at Oxford University; and Gavin Kennedy emeritus


professor at Heriot Watt University – underlined Smith’s global reputation and just how that reputation can bring signifi cant benefi ts and investment to his home town. Smith spent a decade writing


fi ve editions of The Wealth of Nations. Modern technology cut the production process down to a mere three weeks and work is already under way on the second volume. The Kirkcaldy edition, launched by local businessman Bob Carruthers, was a direct spin-off from a recent town centre summit hosted by the leader of Fife Council, Alex Rowley and Gordon Brown MP. Bob, one of around 100 businessmen who attended a workshop, which saw ideas exchanged and networks created, realised that technology makes it so much easier and relatively inexpensive to be a publisher locally. No longer did you need to be in a big city. Hence the publication, of the Kirkcaldy edition, of The Wealth of Nations.


I would like to congratulate all those involved in the creation of the Adam Smith Global Foundation and wish them well for the future. However, perhaps the fi nal comment on this historic event should be left to Gordon Brown, who said: “I believe that the Foundation holds the key to a bright future for the town. Its about reasserting ourselves and our history. We were the centre for great events in the 18th century and we can be again in the future. “Academic interest will bring renowned speakers to the town to fi nd out more of Adam Smith’s heritage and how he came to write his major books in Kirkcaldy.” “Although Smith went to Glasgow and Edinburgh and travelled the continent, it was in Kirkcaldy he wrote The Wealth of Nations. He


Adam Smith


IMS national


chairman Dr Andrew Muir pictured with his old friend and Past Principal of the Adam Smith College, Derek Huckle, prior to attending the lecture.


The Rt Hon Gordon Brown MP and Chancellor of the Adam Smith College, with IMS national chairman Dr Andrew Muir, prior to


attending the dinner.


was inspired to write it after watching the trade that came into the town from the sea. “We were perhaps in danger of forgetting some of our history, but now, through the Foundation, people will see how important Adam Smith was, not only to the town where he was born, but to the world, which continues to be infl uenced by his writings.” Further information can be accessed via the Adam Smith College website www. adamsmith.ac.uk/news.


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