A Comparison On Economic Research Method Between Adam Smith And Friedrich List

Firstly, this dissertation compares Adam Smith's economic methodology with Fredrich List's, based on their classic works— An Inquiry into the Nature and Causes of the Wealth of the Nation and The National System of Political Economy. Then, it analyzes the different social and historical backgrounds between Smith and List. Both of their methodologies greatly influenced the development of economics and its methodology. The different social and historical backgrounds contributed to a lot of discrepancies between their methodologies. Smith treated individual as his basic analytical unit of economy. He regarded "value" concept as core of his theory, he used both of methods, phenomenal descriptive method and abstract deductive method, to construct classical system of economic theory. In contrast with Smith, List used nation as his basic analytical unit in his research of economy, he took the term "productivity" as his focus, and created a special theoretical system that was different from Adam Smith's historical method. Although their disagreement on theoretical systems and research methods, they were in some commons on constructing the system of economic theory. Both of them paid attention to the history of economy and economic theory. Their methods of economic research have been indelible influences on the development of economics and its methodology.