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How Adam Smith would fix capitalism

Jesse Norman in the FT. Look out for the forthcoming symposium on Jesse’s soon-to-be released book in C+T. The real Adam Smith is a vastly wiser and more subtle thinker. He forces us to discard the usual simplistic slogans and tired clichés. But more than this: he still has a vast amount to teach us,…

Adam Smith

Marking the birth of the gentle professor. In the university of Oxford, the greater part of the public professors have, for these many years, given up altogether even the pretence of teaching.   Adam SmithDavid Humedistributed knowledgeinvisible handMoral psychologypolitical economyPropriety and Prosperity: New Studies on the Philosophy of Adam SmithSpontaneous orderTheory of Moral SentimentsWealth of…

Luck and Learning to Make the Most of It

Here is Vernon Smith on Fortuna. Vernon very kindly wrote the preface to Propriety and Prosperity: New Studies on the Philosophy of Adam Smith. Some call it luck, others call it Providence, and that points to the mystery of the forces that shape us and that we shape—forces well beyond our comprehension.   Adam SmithBehavioral economicsEconomicsfortunaLuckProvidencesituated cognitionTheory…