Wednesday, June 17, 2015

Amoral not Immoral

Some think of free markets and the profit motive as immoral rather than more correctly amoral, as in not making a moral judgement. Adam Smith is best known for the Wealth of Nations which describes the spontaneous economic order of free market activity delivering the greater good from those working in their self interest.  The Theory of Moral Sentiments appears to be, that is according to Russ Roberts How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness, a spontaneous moral order developed by Smith. Robert's interpretation is terrific.

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