EconPapers    
Economics at your fingertips  
 

Adam Smith's account of self-deceit and informal institutions

Caroline Gerschlager

No 07-10.RS, DULBEA Working Papers from ULB -- Universite Libre de Bruxelles

Abstract: According to Adam Smith, self-deceit is essential to the economy. In this light the paper draws on the Theory of Moral Sentiments and revisits Adam Smith’s view of the self. The originality of Smith’s account of self-deceit is seen in his insights into self-regulating social forces. The paper illustrates how, in this view, informal institutions are important because they countervail self-deceit in markets. It suggests that Smith overestimated these countervailing forces for the reason that informal norms are also able to amplify selfdeceiving agents.

Keywords: self-deception; self-love; sympathy; informal norms; self-regulation; positive and negative feedback. (search for similar items in EconPapers)
Date: 2007-05
New Economics Papers: this item is included in nep-his, nep-hpe and nep-soc
References: Add references at CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed

Published by: ULB, DULBEA

Downloads: (external link)
https://dipot.ulb.ac.be/dspace/bitstream/2013/13610/1/dul-0083.pdf dul-0083 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:dul:wpaper:07-10rs

Ordering information: This working paper can be ordered from
http://hdl.handle.ne ... ulb.ac.be:2013/13610

Access Statistics for this paper

More papers in DULBEA Working Papers from ULB -- Universite Libre de Bruxelles Contact information at EDIRC.
Bibliographic data for series maintained by Benoit Pauwels ().

 
Page updated 2021-07-22
Handle: RePEc:dul:wpaper:07-10rs