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Los fundamentos morales de la economía: una relectura del problema de Adam Smith

Author

Listed:
  • 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.

Suggested Citation

  • José Atilano Pena López & José Manuel Sánchez Santos, 2007. "Los fundamentos morales de la economía: una relectura del problema de Adam Smith," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 9(16), pages 63-87, January-J.
  • Handle: RePEc:rei:ecoins:v:9:y:2007:i:16:p:63-87
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/jpena16.pdf
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    References listed on IDEAS

    as
    1. Sally, David, 2001. "On sympathy and games," Journal of Economic Behavior & Organization, Elsevier, vol. 44(1), pages 1-30, January.
    2. David Sally, 2002. "Two Economic Applications of Sympathy," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 18(2), pages 455-487, October.
    3. Elias L. Khalil, 2001. "Adam Smith and Three Theories of Altruism," Recherches économiques de Louvain, De Boeck Université, vol. 67(4), pages 421-435.
    4. Becker, Gary S, 1981. "Altruism in the Family and Selfishness in the Market Place," Economica, London School of Economics and Political Science, vol. 48(189), pages 1-15, February.
    5. Khalil, Elias L., 1990. "Beyond Self-Interest and Altruism: A Reconstruction of Adam Smith's Theory of Human Conduct," Economics and Philosophy, Cambridge University Press, vol. 6(2), pages 255-273, October.
    6. Cory, Gerald Jr., 2006. "A behavioral model of the dual motive approach to behavioral economics and social exchange," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(4), pages 592-612, August.
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    More about this item

    Keywords

    ethics; economy; Adam Smith; sympathy;
    All these keywords.

    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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