 Internalizing Moral Markets: Solving the “Smith Problem”Craig S. Galbraith and Curt H. Stiles Chapter 11 in Humane Entrepreneurship:Creating a New Economy, Venture by Venture, 2023, pp 125-140 from World Scientific Publishing Co. Pte. Ltd. Abstract: By the very individualistic nature of entrepreneurship, true entrepreneurs internalize the normal separation between market activities and social activities. This is a key issue in understanding how the entrepreneur, versus other business decision makers, can incorporate a humane perspective within the larger context of the modern economic world. Although Adam Smith is often considered the father of modern economics, he really did not explore in detail the nature of entrepreneurial action, and its role in innovation and economic growth. Smith, however, does spend an extensive amount of time on the idea of human beneficence, and the impacts that the human characteristics of virtue, charity, and sympathy have upon economic behavior… Keywords: Humane Entrepreneurship; Humane Economies; Humane Capitalism; History of Entrepreneurship; Entrepreneurship; Humaneness; Economic History; Markets And Morality; Ethical Markets (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811271243_0011 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd. |
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