MORAL AND MARKET ECONOMY IN ADAM SMITH

Abstract

This article seeks to analyze in Adam Smith's writings a relationship between morality and market/capitalism. This can be seen in his works The Wealth of Nations and Theory of Moral Sentiments. Even though Smith considers these writings to be interdependent, they are both part of a larger philosophical project. In this way, questions arise such as: a) Do market and morale have any relationship? b) Can we base a relationship between economics and morality on Smith? c) Can the individual who gets involved with the market be the bearer of a morality? d) Can capitalism only be developed within a system of exploitation and consequently in an immoral way? e) And to be prosperous we must abandon any trace of morality? However, the objective is to show that such questions are already present in Smith's thought, making it possible to see a foundation and understanding of the moral aspect in market/capitalism relations.