José Atilano Pena López () (Universidad de A Coruña) José Manuel Sánchez Santos () (Universidad de A Coruña)
Abstract
This paper offers a reinterpretation of “Adam Smith’s problem” and reconsiders the relation between ethics and economics. It makes a critical revision of the attempts that seek to solve this problem, proposes an alternative framework constructed on the Smithian concepts of sympathy and the impartial spectator, and shows that morality understood as an extension of sympathy relations, constitutes a precondition for the market existence. The analysis clarifies that morality is the base of the economic system and, at the same time, the economic system limits morality.
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Volume (Year): 9 (2007) Issue (Month): 16 (January-June) Pages: 63-87 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: A10 - General Economics and Teaching - - General Economics - - - General A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
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