Sic et Non: Three Remarks of Adam Smith to Economics of Governance

Warning

This publication doesn't include Faculty of Arts. It includes Faculty of Economics and Administration. Official publication website can be found on muni.cz.
Authors

SVOBODA František

Year of publication 2013
Type Article in Periodical
Magazine / Source Review of European Studies
MU Faculty or unit

Faculty of Economics and Administration

Citation
Doi http://dx.doi.org/10.5539/res.v5n5p97
Field Economy
Keywords public economics ; Adam Smith; reciprocity; opportunism; government; public policies
Description The work of Adam Smith is often interpreted as a justification of the natural order of economy, an apology which harmonizes individual and public interests. In addition to the concern for the economic system, Smith’s books comprise valuable passages in which the role of the state is explored within its both negative and positive implications. Generally, the corpus of his work includes three problem areas of fundamental importance for public economics. The first of these fields consists in the presentation of the tendency toward reciprocity as a significant trait of human behaviour. The second main topic constitutes a definition of the role of the State in economy, and it is based not only on the strictly economic assumption that the State ought to finance activities not profitable for a private person, but also on numerous exceptions. The third central issue then concerns the opportunism of individuals in its various forms. As the outlined topics are crucial for public economics, a further insight into Adam Smith’s ways of approaching them may be rewarding.
Related projects:

You are running an old browser version. We recommend updating your browser to its latest version.