The Adam Smith Problem (PDF)
A misunderstanding of Human behaviour
(Sprache: Englisch)
Scientific Essay from the year 2012 in the subject Economics - History, grade: First, London Metropolitan University, language: English, abstract: In Wealth of Nations, Smith vehemently cited that economic practices were motivated by the principle of...
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Scientific Essay from the year 2012 in the subject Economics - History, grade: First, London Metropolitan University, language: English, abstract: In Wealth of Nations, Smith vehemently cited that economic practices were motivated by the principle of self-interest. On the other hand, Smith argued that economic behaviour was mainly determined by sympathy, a sentimental phenomenon that is prominent in the Theory of Moral Sentiments. As such, these two works present a moral dilemma as to whether the human behaviour in economy is motivated by self-interests or sympathy. In effect, the Adam Smith Problem revolves around the presumption that economic behaviour is driven by both social interest of benevolence and private interest of self-love. This paper presents a critical analysis of this problem. In details, the paper seeks to determine the extent to which the problem is based on a misunderstanding of human behaviour.
Bibliographische Angaben
- Autor: Moatez Chaouachi
- 2012, 1. Auflage, 14 Seiten, Englisch
- Verlag: GRIN Verlag
- ISBN-10: 3656238790
- ISBN-13: 9783656238799
- Erscheinungsdatum: 19.07.2012
Abhängig von Bildschirmgröße und eingestellter Schriftgröße kann die Seitenzahl auf Ihrem Lesegerät variieren.
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- Größe: 0.49 MB
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Englisch
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