ABSTRACT
I believe it is fair to say that Schumpeter had only grudging praise for Adam Smith. 1 However, two extensive student notebooks, one from Smith's course on rhetoric, the other from Smith's course on jurisprudence, were discovered in 1958, eight years afrer Schum peter's death. These notebooks display a breadth and depth of knowledge by Smith which surely would have impressed Schumpeter. I suspect that had Schumpeter been aware of them, his appreciation of Smith's intellect would have been keener.2 Indeed, it is now quite clear that Smith was such a polymath that it is difficult for modern relatively narrowly trained scholars to do full justice and fully appreciate Smith's encyclopedic thought.
