This paper reappraises the idea, traceable to Adam Smith, of a fundamental distinction between market transactions and genuinely social relationships. On Smith's account, each party to a market transaction pursues his own interests, subject only to the law of contract. Using the work of Smith's...

This paper argues that measurements of opportunity which focus on the contents of a person's opportunity set fail to capture open-ended aspects of opportunity that liberals should value. I propose an alternative conception of ‘opportunity as mutual advantage’ which does not require the...