Moatez Chaouachi

The Adam Smith Problem (eBook, PDF)

A misunderstanding of Human behaviour

• Format: PDF

Produktbeschreibung

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.

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Produktdetails

• Verlag: GRIN Verlag
• Seitenzahl: 14
• Erscheinungstermin: 19. Juli 2012
• Englisch
• ISBN-13: 9783656238799
• Artikelnr.: 37682791