George Goodman, American economist and author (b. 1930)

George Jerome Waldo Goodman (August 10, 1930 – January 3, 2014) was a highly influential American author and an acclaimed economics broadcast commentator, widely recognized for his unique ability to demystify the complex world of finance for a broad audience. While he published fiction under his given name, he became most famously known by his insightful and often humorous financial writings and commentary under the distinguished pseudonym, Adam Smith.

This iconic nom de plume, "Adam Smith," was specifically assigned to Goodman by Clay Felker, the visionary co-founder and editor of New York magazine. The strategic choice of this pseudonym, directly referencing the renowned 18th-century Scottish economist and philosopher Adam Smith, author of the foundational work "The Wealth of Nations," served a crucial purpose: it allowed Goodman to publish candid and often provocative articles about the inner workings of Wall Street with complete anonymity. This anonymity was vital for an insider, enabling him to offer an unvarnished perspective on market dynamics, investment strategies, and the psychology of financial players without jeopardizing his professional relationships or sources within the financial industry.

The Dual Persona: Adam Smith, the Financial Sage

Under the Adam Smith moniker, Goodman carved out a significant niche as a pioneering financial journalist who brought a human touch and an engaging narrative style to the often-dry subject of economics. His non-fiction works are celebrated for their wit, accessibility, and deep understanding of market psychology, offering valuable insights that transcended mere financial reporting. Among his most influential books are:

• The Money Game (1968): This seminal work is often credited with revolutionizing financial journalism. It offered readers an unprecedented insider's view of Wall Street, exploring the behavioral aspects of investing and the often irrational forces that drive markets. It was lauded for its conversational tone and its ability to explain complex financial concepts through engaging anecdotes.

• Supermoney (1972): Building on the success of his previous work, this book continued to dissect the world of high finance, providing astute observations on market trends, the rise of institutional investing, and the challenges faced by individual investors during a period of significant economic change.

• Powers of Mind (1975): While a departure from his direct financial commentary, this book explored human potential, consciousness, and the mind's capabilities, demonstrating Goodman's wide-ranging intellectual curiosity and his ability to delve into complex subjects beyond the realm of economics.

"Adam Smith's Money World": A Legacy in Broadcast

Goodman's influence extended beyond print. From 1981 to 1996, he hosted the highly regarded television program "Adam Smith's Money World" on PBS. This long-running show became a staple for anyone seeking to understand the global economy, featuring insightful interviews with prominent economists, leading investors, influential policymakers, and corporate executives. Through this platform, Goodman became a trusted voice, explaining financial events, market movements, and economic policies in a clear, concise, and engaging manner, further solidifying his reputation as a master explainer of economic intricacies.

George Goodman, the Fiction Author

While his Adam Smith persona dominated the financial world, George Jerome Waldo Goodman also pursued a career as a fiction writer under his birth name. His notable works of fiction include:

• The Wheeler Dealers (1963): This novel, a satirical look at the world of finance, was famously adapted into a successful film starring James Garner and Lee Remick, showcasing Goodman's ability to blend humor with a keen understanding of human nature within a business context.

• A Killing in the Market (1964): Another work that delved into the dramatic and often humorous side of the financial world, demonstrating his versatility as a writer.

George J.W. Goodman’s contributions, whether under his real name or as Adam Smith, profoundly impacted how the public understood and engaged with financial markets. His ability to translate complex economic principles into accessible, captivating narratives cemented his legacy as a pivotal figure in American journalism and economic commentary.

Frequently Asked Questions About George J.W. Goodman a.k.a. Adam Smith

Who was George Jerome Waldo Goodman?

George J.W. Goodman was a celebrated American author and a prominent economics broadcast commentator, best known for his influential financial writings and television commentary under the pseudonym Adam Smith. He also wrote fiction under his real name.

Why did George Goodman use the pseudonym "Adam Smith"?

The pseudonym "Adam Smith" was assigned to him by Clay Felker at New York magazine. Its primary purpose was to allow Goodman to write candidly and anonymously about Wall Street from an insider's perspective, without compromising his professional relationships or sources within the financial industry. The name itself is a tribute to the foundational Scottish economist, Adam Smith.

What were Adam Smith's most famous works?

Under the pseudonym Adam Smith, George Goodman authored several highly influential non-fiction books, including "The Money Game" (1968), "Supermoney" (1972), and "Powers of Mind" (1975). He was also the host of the long-running PBS television program, "Adam Smith's Money World" (1981-1996).

What was the significance of "Adam Smith's Money World"?

"Adam Smith's Money World" was a highly respected PBS television program hosted by George Goodman that ran for 15 years. It played a crucial role in demystifying the global economy for a wide audience, featuring interviews with leading figures in economics, finance, and policy, and providing clear explanations of complex financial topics.

Did George Goodman write any fiction?

Yes, George Goodman wrote fiction under his birth name. Notable works include "The Wheeler Dealers" (1963), which was adapted into a successful film, and "A Killing in the Market" (1964).

When did George J.W. Goodman live?

George Jerome Waldo Goodman was born on August 10, 1930, and passed away on January 3, 2014, leaving behind a significant legacy in both financial journalism and literature.