This paper challenges the commonly held view that Smith's moral theory is a subjectivist theory. Smith's test for goodness and rightness - for propriety - is not the approbation of an impartial spectator, but the warranted approbation of such a spectator. Something is right or good not because...

In this paper, we present a simplified macroeconomic model where money demand does not depend on the level of income. We then derive aggregate demand in a simple four quadrant diagram similar to a standard IS-LM. The analysis is extended to a model including net exports. The standard economic...

This paper challenges the commonly held view that Smith's moral theory is a subjectivist theory. Smith's test for goodness and rightness - for propriety - is not the approbation of an impartial spectator, but the warranted approbation of such a spectator. Something is right or good not because...

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