Author Archive

Lisa Herzog

Lisa Herzog received her doctorate degree (D.Phil.) in Political Theory from the University of Oxford, UK where she studied as a Rhodes Scholar. She was “wissenschaftliche Mitarbeiterin” at the Peter Löscher Chair for Business Ethics at the Technical University of Munich. Her thesis discusses the constructions of “the market” in Adam Smith and GWF Hegel and the meaning of these constructions for contemporary political theory.

On March 13th, 2007, the Bank of England issued a new series of bank notes. On the £20 note Adam Smith, the Scottish founder of the discipline of economics, replaced the composer Edward Elgar. If portraits on bank notes tell us anything about the spirit of their time, this seems to be a case in point. Smith’s portrait seems appropriate for a period in which the optimism about efficient free markets had reached a peak. But the cliché of who Adam Smith is, and the 18th-century scholar whom one encounters when turning to his writings in their entirety, are at a considerable distance. Of course it would be foolish to deny that Smith was an economist, if only because defining …