Adam Smith and the Contemporary World
In this paper that is a transcript of a lecture held to commemorate the 250th anniversary of Adam Smith’s Theory of Moral Sentiments the author who is a Nobel Prize winner in economics reflects on the relevance of this classic. He shows that Smith proposed a historical approach to institutional transformations as opposed to the authors who tried to advance a system of ideal institutions. The importance of Smith’s views on impartiality in ethical evaluation of social conditions and in building a just society is also emphasized.
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