THE TEACHING ECONOMIST - William A. McEachern 
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Issue 27, Fall 2004
William A. McEachern, Editor
Channeling Adam Smith
The list of novels written by economists to deliver economic lessons is growing. In Saving Adam Smith: A Tale of Wealth, Transformation, and Virtue (Financial Times/Prentice Hall, 2002), Jonathan Wight of the University of Richmond creates a dialogue between Adam Smith and a current-day economics instructor to deliver lessons in both economics and ethics.
Rich Burns has just finished his second year of teaching at mythical Hearst College in Virginia. He has been putting off the final chapter of his dissertation, the chapter containing a privatization formula that could be worth a billion dollars to a multinational. Burns gets a visit from a Harold Timms, an engine mechanic, who claims that a voice has been "babbling" in his head nonstop for two weeks. It seems that Timms is channeling the thoughts of Adam Smith. Once Burns is satisfied that Timms, or Smith, is the real deal, the novel moves forward on two related tracks, the Smith-Burns dialogue and a string of events that drive the narrative, including rekindling an old flame, a cross-country road trip, attempted murder, corporate greed, and a combination channel-fest and poker game in Nevada involving Smith, Voltaire, Rousseau, Quesnay, and Hume (what are the odds?).
Smith says he has come back to set the record straight. He claims that undue focus on his invisible-hand metaphor has turned him into a "caricature." This distortion has shortchanged the human and ethical aspects of his writing, especially as reflected in The Theory of Moral Sentiments. Turns out that Smith has channeled "many young minds" over the years, including Burns himself in high school and early college. But once Burns began parroting his professors, Burns turned a deaf ear on Smith and hardened up. "It's a tragedy," Smith laments, "young minds set so quickly, and older minds are like rusted iron fortresses." (p. 29).
After a hundred pages of dialogue, however, Burns begins to soften. His first epiphany is the insight that "love is real." After another hundred pages, he sees Smith not just as the father of economics but the founder of "a moral way of living" as expressed by "superior prudence." Superior prudence combines narrow prudence "with valor, with extensive benevolence, with a sacred regard for the rules of justice, and with a proper degree of self command" (p. 236).
An economist writing a novel is like a dog dancing on its hind legs. The fact that it's done at all is remarkable. It seems unsporting to grade the performance. But the whole point of stuffing economics inside a novel is to engage the reader enough to swallow the lessons that go with the narrative.
Many students may find the channeling approach attractive. Paranormal TV shows such as Crossing Over with John Edwards and a growing occult section of bookstores attract a young audience. What better way to convey the thoughts of Smith than using his own words. But some of the Smith-Burns dialogue may prove heavy going for students. Smith's language is a throwback, and the subject is often abstract, such as the description of "superior prudence." Still, the Smith-Burns exchange has a certain rhythm and even nuance. In contrast, the action narrative seems forced, melodramatic ('Kill me, if you must, but let him go" p. 241), and more prone to clichés. But the ultimate test of a narrative is whether one wants to continue reading, and I guess I did want to see how things turned out.
Finally, I understand that the book's central vehicle of channeling must appear at least conceivable for the novel to work. So we might expect channeling to be presented in a plausible light. I felt, however, that the author pushed an acceptance of channeling a little too hard, especially in the "source notes," which are meant to provide explanations and source material that are clearly matter-of-fact, not part of the fiction. A source note, for example, in a matter-of-fact way, points to a Web site that "carefully catalogued" channeler Edgar Cayce's thousands of psychic healings. Another source note explains that the "insistent inner voice" that inspired the book A Course in Miracles was identified by the channeler as Jesus Christ. I looked up this book on the Religious Movements Homepage at the University of Virginia (http://religiousmovements.lib.virginia.edu/nrms/course.html) and learned that the estimated two million followers of A Course in Miracles "believe that only love is real," an insight reminiscent of Burns's first epiphany. And a source note refers the reader to "an excellent discussion of channeling:" With the Tongues of Men and Angels: A Study of Channeling by Arthur Hastings. I Googled Hastings and learned that he is former Dean and now Professor at the Institute of Transpersonal Psychology in Palo Alto, California. In the "Acknowledgements" for Saving Adam Smith , Professor Wight notes: "During my sabbatical, office support and a stimulating environment were provided by the Institute of Transpersonal Psychology (ITP) in Palo Alto, California, a graduate school in psychology (including moral psychology)" (p. 321).
Delivering Adam Smith to students through channeling is an imaginative and productive idea. Pushing its validity, especially through source notes, seems more of a stretch. Still, Saving Adam Smith is a welcome new entry into this emerging genre.