Vertus et justice du marché chez Adam Smith

Benoît Walraevens

Revue économique, 2014, vol. 65, issue 2, 419-438

Abstract: The paper aims at showing the neglected moral aspect of the market in Smith?s work. The first part provides a new interpretation of the natural price as a just price. In the second part it is claimed that free competition is an institutional framework best suited for fostering the virtues of industry, frugality, probity, fairness and prudence. The last part justifies Smith?s plea for a legally enforced maximal rate of interest by means of concepts taken from his moral philosophy such as the desire of social recognition, excessive self-esteem and self-deceit. The conclusion underlines the close link between politics, ethics and economics in Smith?s thought. Classification JEL : B12, B31.

JEL-codes: B12 B31 (search for similar items in EconPapers)
Date: 2014
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