Father Knows Best: Using Adam Smith to Teach Transactions Costs
Brandon Dupont ()
The Journal of Economic Education, 2014, vol. 45, issue 4, 320-329
Adam Smith's moral philosophy can be used to introduce economics students to the important idea of transactions costs. The author provides a brief background in this article to Smith's moral philosophy and connects it to the costs of transacting in a way that fits easily into the standard principles of microeconomics classroom. By doing so, instructors can also demonstrate to students that there are connections between ethical behavior and market outcomes.
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jeduce:v:45:y:2014:i:4:p:320-329
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