Published online by Cambridge University Press: 14 September 2023
For being the reputed “father of capitalism,” Adam Smith had many criticisms of commercial society. Smith’s concerns were so numerous, in fact, that some commentators argue that Smith is properly considered as on the political left rather than on the political right. Given the seemingly unending stories of business malfeasance and corruption, many today wonder whether there can even be such a thing as what we might call “virtuous business.” Despite his concerns about business, perhaps there might nevertheless be something relevant to contemporary concerns in Adam Smith. Smith recommends political-economic institutions that can provide a framework enabling us to address what a just and humane society is, as well as the role virtuous business might play in it. This chapter investigates how the Smithian system might plausibly provide such a framework and suggests that it can offer guidance today for what we might call “virtuous business.”
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