ABSTRACT
The constants of Adam Smith's model are the data from which the unbreakable spiral of the steady process of growth is derived. All extra-systemic factors influencing the stability and growth of the system are governed by intra-systemic processes, so that the very distinction between extra- and intra-systemic motion loses its meaning. Some constructive effort is required if one tries to distill the essence of an analytical model from the mixture of theoretical propositions, empirical descriptions, historical discourses, and political recommendations with which Smith's magnum opus presents itself to the uninitiated reader. There is an intimate historical connection between the growing frustrations of Traditional Economics and the growth of Political Economics. When finally the latter took a more definite shape in the "Keynesian Revolution", a new access to "concrete truth" was opened, holding out the promise of reconstructing a theoretical "system" on new foundations.
