Скачать или смотреть Episode 3: 'Adam Smith - A strawman for unfettered capitalism?' With Mikko Arevuo

Dr Mikko Arevuo (Cranfield School of Management) on ‘Adam Smith - A strawman for unfettered capitalism?’.

Summary (extract from Mikko Arevou's paper):

'Adam Smith is credited as the father of modern economics for his work on systemizing economic activity as an independent discipline of political economy in his 1776 work The Wealth of Nations (WN). WN has come to overshadow Smith’s earlier 1759 work The Theory of Moral Sentiments (TMS) where he expanded on David Hume’s (1751) account of moral philosophy by developing the concepts of sympathy (or sympathetic imagination that enables us to grasp the situation and sentiments of others), and the impartial spectator (an observer of our own behavior and that of the others) that culminated in the articulation of virtue ethics based on prudence, temperance, justice, benevolence, and self-command in commercial society. Smith’s political economy laid the foundations for modern economics, arguing that markets should be free from government intervention. However, Smith's ideas about economics were not divorced from his moral philosophy. He believed that economics and morals were inextricably linked and that a healthy economy depended on a society of virtuous individuals.'

Should you want to request a copy of the paper, please contact the author directly.