The Nature and Causes of Corporate Negligence, Sham Lectures, and Ecclesiastical Indolence: Adam Smith on Joint-Stock Companies, Teachers, and Preachers

Andreas Ortmann

Chapter 4 in Adam Smith’s System, 2022, pp 93-112 from Palgrave Macmillan

Abstract: Abstract I shall argue that Smith saw all three institutions adversely affected by similar incentive structures that were likely to produce poorly functioning organizations. Smith identified self-interest as the driving force of the incentive misalignments that he diagnosed, and he considered what, if anything, could prevent these institutions from being afflicted by them.

Date: 2022
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Journal Article: The Nature and Causes of Corporate Negligence, Sham Lectures, and Ecclesiastical Indolence: Adam Smith on Joint-Stock Companies, Teachers, and Preachers (1999)
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DOI: 10.1007/978-3-030-99704-5_4

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