Almennt - Wednesday 14.March 2012 - Vefstjóri - Views 118
At 12h Wednesday March 14th
In M102 at Sólborg v/Norðurslóð
Commercial Relations: from Adam Smith to field experiments This paper claims that Smith promotes free markets on moral grounds and argues that markets can foster morality just as much as morality can foster markets.
For Smith, markets generate wealth which supports life for an increasing number of people. Markets generate institutions which support liberty. And markets generate the social conditions which facilitate moral impartiality. If life, liberty, and impartial judgments are considered values, as they are in Smith, then for Smith markers support these aspects of virtuous behaviour. Similarly, in Smith morality fosters markets. If economic actors, such as the greedy great merchants and manufacturers, are not moral agents, then, Smith tells us, markets are impaired and may collapse, or at least they have negative consequences for the majority of the people. Recent findings from experimental economics seem to support Smith’s ideas that markets and some aspects of morality are dependent on each other, and in particular some results seem to bring to light that some causal effects of the relationship go from markets to morality.
In M102 at Sólborg v/Norðurslóð
Commercial Relations: from Adam Smith to field experiments This paper claims that Smith promotes free markets on moral grounds and argues that markets can foster morality just as much as morality can foster markets.
For Smith, markets generate wealth which supports life for an increasing number of people. Markets generate institutions which support liberty. And markets generate the social conditions which facilitate moral impartiality. If life, liberty, and impartial judgments are considered values, as they are in Smith, then for Smith markers support these aspects of virtuous behaviour. Similarly, in Smith morality fosters markets. If economic actors, such as the greedy great merchants and manufacturers, are not moral agents, then, Smith tells us, markets are impaired and may collapse, or at least they have negative consequences for the majority of the people. Recent findings from experimental economics seem to support Smith’s ideas that markets and some aspects of morality are dependent on each other, and in particular some results seem to bring to light that some causal effects of the relationship go from markets to morality.
