This book contains two classic works by Adam Smith: "The Wealth of Nations" and "The Theory of Moral Sentiments". Among them, "The Wealth of Nations" proposes the theory of self-regulation in the market economy, known as the "invisible hand, " marking the establishment of the classical political economy theoretical system. "The Theory of Moral Sentiments" is Adam Smith’s ethical work. Starting from human emotions and sympathy, Smith discusses a series of concepts such as good and ...
This book contains two classic works by Adam Smith: "The Wealth of Nations" and "The Theory of Moral Sentiments". Among them, "The Wealth of Nations" proposes the theory of self-regulation in the market economy, known as the "invisible hand, " marking the establishment of the classical political economy theoretical system. "The Theory of Moral Sentiments" is Adam Smith’s ethical work. Starting from human emotions and sympathy, Smith discusses a series of concepts such as good and evil, beauty and ugliness, justice, and responsibility, revealing the foundation of human society’s maintenance and harmonious development as well as the general moral principles that human behavior should follow. "The Wealth of Nations" expounds on the behavior of economic individuals, focusing on self-interest and non-cooperation (competition); while "The Theory of Moral Sentiments" expounds on the behavior of moral individuals, focusing on empathy, sympathy, and compassion. The two works complement each other and help us better address the "Adam Smith Problem" and explore the relationship between economics and ethics.
