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  4. Summer 2005
  5. Adam Smith's Theory of Moral Sentiments: On Morals and Why They Matter to a Liberal Society of Free People and Free Markets

Adam Smith's Theory of Moral Sentiments: On Morals and Why They Matter to a Liberal Society of Free People and Free Markets

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Abstract

This essay describes Smith's analysis of ethics in his Theory of Moral Sentiments: the interaction of our nature and our nurturing that makes common civic ethics possible and the dynamic interaction of individuals and extant societal constructions that can lead to ever more mature systems of civic ethics and thus toward those conditions necessary for a constructive, sustainable liberal system.

Citation

Evensky, Jerry. 2005. "Adam Smith's Theory of Moral Sentiments: On Morals and Why They Matter to a Liberal Society of Free People and Free Markets." Journal of Economic Perspectives, 19 (3): 109-130. DOI: 10.1257/089533005774357806

JEL Classification

  • B31 History of Economic Thought: Individuals
  • P16 Capitalist Systems: Political Economy
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