Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266060 
Year of Publication: 
2021
Series/Report no.: 
UPSE Discussion Paper No. 2021-06
Publisher: 
University of the Philippines, School of Economics (UPSE), Quezon City
Abstract: 
I provide a formal explanation of the relationship between the virtues of prudence, justice, and benevolence described by Adam Smith in the Theory of moral sentiments and connect these with the themes Smith subsequently discusses in the Wealth of nations. I contend that the other-regarding concerns Smith discusses as internally held virtues in TMS are presumed addressed instead by formal mechanisms in the WN - particularly the third-party institutions of law and anonymous market exchange.
Subjects: 
Adam Smith Problem
virtues
institutions
self-interest
altruism
JEL: 
B12
B15
Document Type: 
Working Paper

Files in This Item:
File
Size
427.08 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.