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On the objective-functions of firms and consumers
Thelmo Vargas-Madrigal
February 22, 2024 What should people in business maximize? Thelmo Vargas-Madrigal gives a brief tour of famous thinkers who have tried to answer that question and picks his winners and losers.
Guidebook to the Wealth of Nations: CH 7 Book III
Abstract Here Smith applies his theory to economic growth and development. Nations grow rich over time, even if not in the same way. In theory, they should first develop agriculture, then manufacture, then trade internationally. In practice, that was not …
Intellectual Pride and the Limits of Theory
Richard Gunderman
September 6, 2023 "We are responsible for what we think... And we arrive at our notions about what is true and false not simply by diagramming ideas on a whiteboard, but by seeing them expressed in the lives of others and experiencing firsthand how they … … is ultimately a better guide to reality than the intellectual Ivan, who strives so resolutely for the universal that he has great difficult perceiving it in the particular. It is here, in the love of each person he is with, that Alyosha truly shines.
Why Teach "The Theory of Moral Sentiments?"
Liberty Fund, Inc.
"Smith’s system can help adolescents build a moral narrative for their developing social lives." … words they haven’t come across before. Each student and each classroom will encounter different challenges and be intrigued by different aspects of the text. The purpose of this guide is to help facilitate the best environment to explore it together.
Guidebook to the Wealth of Nations: CH 8 Book IV.1-6
Abstract (Book IV 1-6) Smith defines the Wealth of Nations as a violent attack against the mercantile order. Book IV contains his explicit attacks. The injustices and inefficiencies of the British mercantile empire are all traceable to what today we would … … to the government but significant for the Bank. If there is no seignorage, the government faces the expense of the mint, receives no revenue. What the Bank of England does not understand is that nobody benefits from it. FURTHER READINGS???? ???? ????
Guidebook to the Wealth of Nations: CH 10 Book V.1
Chapter 10: Book 5: Of the revenue of the sovereign or commonwealth Abstract (Book V.1) What are the functions of the sovereign, and what are the expenditures? Smith claims the sovereign is in charge of national defense, the administration of justice, and …
Guidebook to the Wealth of Nations: CH 10 Book V.1
Chapter 10: Book 5: Of the revenue of the sovereign or commonwealth Abstract (Book V.1) What are the functions of the sovereign, and what are the expenditures? Smith claims the sovereign is in charge of national defense, the administration of justice, and …
The Physics and Metaphysics of Liberty: Adam Smith and William Blake
Richard Gunderman
October 11, 2023 "Smith’s moral, political, and economic cases for liberty are compelling, stated as they are in purely practical terms, yet they leave some stones unturned. Enter William Blake, who asks, what if liberty is not only beneficial but also at … … be free, and any attempt to fetter us represents an offense against the divinely ordered reality. Should liberty’s defenders find themselves languishing for want of inspiration, they would be well-advised to supplement their reading of Smith with Blake.
In what cases the Sense of Duty ought to be the sole Principle of our Conduct; and in what cases it ought to concur with other Motives … that respect and esteem which would seem due to one who, upon a like occasion, had acted properly from a just sense of what was proper to be done. No action can properly be called virtuous, which is not accompanied with the sentiment of self-approbation.
Why Some States Succeed: Mobility, Markets, and the Freedom to Flourish with Justin Callais
Juliette Sellgren and Justin Callais
What makes some states thrive while others trap people in place? And what does it really mean to be free to move, grow, and flourish? … to the Great Antidote Podcast. It means a lot. The Great Antidote is sound engineered by Rich Goyette. If you have any questions, any guests or topic recommendations, please feel free to reach out to me at Great antidote@libertyfund.org. Thank you.
Jonathan Jacobs
May 15, 2019 … does worsen or harm . It is difficult to see how that harming can be justified. That is not a reason to abolish incarceration. It is a reason to reform it. [xv] Smith, TMS, II.ii.2.3, 84. [xvi] Ibid., II, ii. 2.4, p. 85. [xvii] Ibid., II.ii.2.1, p. 82.
Adam Smith Goes to the Movies: The Avengers
Sarah Skwire and Aeon J. Skoble
April 24, 2019 If Adam Smith were alive today, he’d be just as excited as the rest of us about the release of Avengers: Endgame … , to raise, to ravish ev’ry heart, With Shakespeare’s nature, or with Jonson’s art, Let others aim; ’t is yours to shake the soul With thunder rumbling from the mustard bowl... [4] "Of the Imitative Arts also appears in Essays on Philosophical Subjects.
Alice Temnick on Teaching, Learning, and Adam Smith's Education
Juliette Sellgren and Alice Temnick
February 16, 2024 … to the Great Antidote Podcast. It means a lot. The Great Antidote is sound engineered by Rich Goyette. If you have any questions, any guests or topic recommendations, please feel free to reach out to me at great antidote@libertyfund.org. Thank you.
Alice Temnick on Adam Smith as an Educator
Juliette Sellgren and Alice Temnick
May 3, 2024 What might it have been like to be a student of Adam Smith, and if he hadn't quit teaching, would we have ever gotten The Wealth of Nations? Host Juliette Sellgren explores these questions and more with master teacher Alice Temnick. … to The Great Antidote Podcast; it means a lot. The Great Antidote is sound engineered by Rich Goyette. If you have any questions, any guests or topic recommendations, please feel free to reach out to me at Great antidote@libertyfund.org. Thank you.
Charlotte Thomas on Learning and the Liberal Arts
Charlotte Thomas and Juliette Sellgren
Join us to find out what it truly means to be “educated” and how to do it. … listening to The Great Antidote podcast means a lot. The great antidote is sound engineered by Rich Goyette. If you have any questions, any guests or topic recommendations, please feel free to reach out to me at Great antidote@libertyfund.org. Thank you.
What Would Adam Smith Say About Love on Valentine's Day?
Janet Bufton
February 10, 2021 Remember, lovebirds: You don’t have to think that Adam Smith was cynical about your doe-eyes and snuggles. … year remember, lovebirds: You don’t have to think that Adam Smith was cynical about your doe-eyes and snuggles. But he probably did think you should get a room. Related Links: Professor Spyridon Tegos, Is Love Ridiculous? David Hume on Love and Marriage
Adam Smith Suggests You Read a Romance Novel (And Have a Laugh At Yourself)
Shannon Chamberlain
February 14, 2022 Smith answers in advance a certain criticism that people often start leveling at him around Valentine’s Day: that he thinks love is “ridiculous.” Nope. No more than he finds studies or professions ridiculous. It’s just that they don’t … … Would Adam Smith Say About Love on Valentine's Day? | Adam Smith Works Renee Wilmeth's Adam Smith and Jane Austen | Adam Smith Works The Counterpoint: Adam Smith on the ridiculousness of romantic love (1759) | Online Library of Liberty (libertyfund.org)
Garret Edwards
December 13, 2020 By François Topino-Lebrun - Public Domain "In highlighting the anecdote of Pyrrhus and Cineas, Smith moves away from an answer to the happiness question that is merely economic or material." … our lives. Like Epicurus of Samos, one of the first proponents of practical philosophy—what we could call a philosophy geared toward our leading better lives—Smith wanted to bequeath us advice so that all his readers could live better lives and be happy.
Jane Eyre's Equality of Spirit
Ceanna Daniels
August 4, 2022 When Jane Eyre claims to be Mr. Rochester's equal, she has no social status, no financial security, and no political power. But she has certainty that her spirit, as it will stand before God, is equal to anyone else's spirit. … incredible odds to seize the happy ending that every authority figure in her childhood would have denied her: recovery and closure from trauma, a loving marriage rooted in mutual respect rather than financial maneuvering, and a child of her own.
Smith Lessons: What I've Learned from Adam and Vernon
Russ Roberts
November 12, 2020 … is found. As economists, maybe we ought to be thinking more about how we earn respect from those around us and what is considered respectable, and less time on the demand for potatoes or iPhones. Originally published at EconTalk, November 21, 2014.