In analysis of the reciprocal relations which link together the evolution of the relations of subordination, personal incentives, and the division of labor with special reference to the agricultural and the commercial stages, Adam Smith pointed out the exclusive role performed by personal...

A comparative reading of The Wealth of Nations and of The Theory of Moral Sentiments has made it possible to identify the characteristics of Smith's 'undertaker', and to reveal the irreconcilable nature of these with those that Bentham ascribed to 'projectors'. In particular, Smith developed a...

In this paper I have attempted to show the Hutchesonian roots of Smith's approach in relation both to the role and character of the prudent man, with the attendant references to the sense of propriety, and the theory of value. As regards the first point, the paper claims that Smith construed the...

The aim of the first part of this paper is to analyse the role of institutions in Smith's thought, with special emphasis upon the reciprocal relations which link together individual behaviour, the evolution of property rights, relations of subordination and personal incentives up to the...