Questions tagged [adam-smith]

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In Smith's theory, what is the difference between the “nominal price” vs. “market price” and “real price” vs. “natural price”?

In Adam's Fallacy, Foley writes: "Smith distinguishes what he calls the nominal price of a commodity (the amount of money for which it exchanges) from the real price of the commodity, the amount of ...
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Is There a Good Companion for Theory of Moral Sentiments

I am reading "The Theory of Moral Sentiments" by Adam Smith. There's a lot of technical, and/or dated language. Is there a good companion to read this with?
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What does Adam Smith mean by equality of condition?

According to Chomsky, Adam Smith distingushes between equality of opportunity and equality of condition and that he supported the latter over the former. Although I have come across the former term ...
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Where did Adam Smith write the following and in what context?

Contra the a certain fetishisation of Adam Smiths thought he wrote: The vile maxim of the masters of mankind: all for ourselves and nothing for other people. I'm assuming that this is from his ...
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Did the word “than” mean something different in The Wealth of Nations? [closed]

What does the last phrase after the last comma in this sentence mean? And, in the end, the civil magistrate will find that he has dearly paid for his intended frugality, in saving a fixed ...
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Zero-sum games being converted into positive-sum games

It seems as if "pure, naked self-interest", that is, self-interest without liberty, results often in a zero-sum game. (I'm using the term liberty in a Lockean sense, where it is taken to mean the ...