![]() ![]() ‘Who Cares, Wins’,: 1992, The Economist, May 16, pp. ‘The Search for Keynes: Was He a Keynesian?’: 1992, The Economist Dec 26, pp. Glahe (ed.), Adam Smith and the Wealth of Nations: Bicentennial Essays 1776–1976 (Colorado Associated University Press, Boulder, Colorado). J.: 1978, ‘Smith versus Hobbes: Economy versus Polity’, in F. Skinner (eds.), (Liberty Press, Indianapolis). Smith, A.: 1776, ‘ An Inquiry into the Nature and Causes of the Wealth of Nations’, R. Macfie (eds.) (Liberty Press, Indianapolis). Smith, A.: 1759, The Theory of Moral Sentiments, D. Bryce (eds.), Essays on Philosophical Subjects (Liberty Press, Indianapolis). Smith, A.: 1795, ‘The History of Astronomy’, in W. Paul (eds.), Ethics and Economics (Blackwell, Oxford). Sen, A.: 1985, ‘The Moral Standing of the Market’, in E. P.: 1991, Marketing Strategy: A Customer-Driver Approach, (Macmillan, Inc., New York). D.: 1985, Adam Smith (Oxford University Press, Oxford). ![]() Brown (ed.), Philosophers of the Enlightenment (The Harvester Press, Sussex). D.: 1979, ‘Adam Smith: Philosophy, Science and Social Science’, in S. Morgan, P.: 1992, ‘Letter to the Editor’, The Economist, May 30, p. Mandeville, B.: 1714, The Fable of the Bees: or, Private Vices, Publick Benefits, F. L.: 1971, ‘The Invisible Hand of Jupiter’, Journal of the History of Ideas, 12(4). L.: 1967, The Individual in Society: Papers on Adam Smith (George Allen & Unwin, London). L.: 1988, Behind the Veil of Economics: Essays in the Worldly Philosophy, (W.W. M.: 1978, ‘Adam Smith and the Industrial Revolution’, in F. ‘Harlequin Enterprises Limited: A Global Success Story’ (Harlequin, n.d., Toronto). Hall, D.: 1992, ‘Nafta to Eliminate Love, Wilson Says’, Arthur Oct 13, p. B.: 1887, Life of Adam Smith (Walter Scott, London). Moore (eds.), Business Ethics: Readings and Cases in Corporate Morality (second ed.) (McGraw-Hill, New York). Matthews: 1982, ‘Can a Corporation Have a Conscience?’, in W. Paul (eds.), Ethics and Economics, (Blackwell, Oxford). Gibbard, A.: 1985, ‘What is Morally Special About Free Exchange?’, in E. Galloway, D.: 1992, Unpublished presentation on Harlequin enterprises, Trent University, Feb 4. K.: 1977, The Age of Uncertainty (Houghton Mifflin Co., Boston). Fred (ed.), Adam Smith and the Wealth of Nations: Bicentennial Essays 1776–1976 (Colorado Associated University Press, Boulder, Colorado). Moore (eds.), Business Ethics: Readings and Cases in Corporate Morality (second ed.) (MacGraw-Hill, New York)įriedman, M.: 1978, ‘Adam Smith's Relevance for 1976’, in R. ‘Ethics and Economic Success’: 1992, European Business Ethics Newsletter, May, 3.įriedman, M.: 1970, ‘The Social Responsibility of Business is to Increase Its Profits’, in W. B.: 1990, Corporate Corruption: the Abuse of Power (Praeger, New York). D.: 1971, Adam Smith's Science of Morals (George Allen & Unwin, London).Ĭlinard, M. Bruce: 1984, Welfare Economics (Backwell, Oxford).Ĭampbell, T. Boone: 1992, Foundations of Marketing (5th Canadian ed.), (Holt, Rinehart and Winston, Toronto).īroadway, R. In particular, the invisible hand argument applies only to investing capital in one's own country for maximum profit. How can these two views of what results when merchants and manufactures pursue their self-interest be made compatible? It is argued that the invisible hand argument when applied to merchants and manufacturers, (its application to labour and landlords is only mentioned briefly), is extremely restrictive, and that similar restrictions must apply to the moral corollary. Smith does use the invisible hand argument however, a close reading of the Wealth of Nations reveals that Smith thought the interests of merchants and manufacturers were fundamentally opposed to those of society in general, and that they had an inherent tendency to deceive and oppress society while pursuing their own interests. Many people, although Smith did not, draw a moral corollary from this argument, and use it to defend the moral acceptability of pursuing one's own self-interest. The invisible hand of the free market will transform the individual's pursuit of gain into the general utility of society. Adam Smith is usually thought to argue that the result of everyone pursuing their own interests will be the maximization of the interests of society. ![]()
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