Texts

A collection of reputable links to textual selections about Smithian political economy from across the web.

Adam Smith: Moral Hypocrite?

Russell Roberts at the Hoover Institution


In
The Wealth of Nations, Smith takes human beings as self-interested and explores the implications for commercial life when self-interested people “truck, barter, and exchange,” Smith’s phrase for trading locally and globally—our search for a good deal. Unfortunately, some have misinterpreted Smith as saying that greed is good and that selfishness (and not just self-interest) underlies our economic system.