Chapter

The Moral Foundations of Economic Growth

Athol Fitzgibbons

in Adam Smith's System of Liberty, Wealth, and Virtue

Published in print November 1997 | ISBN: 9780198292883
Published online November 2003 | e-ISBN: 9780191596247 | DOI: http://dx.doi.org/10.1093/0198292880.003.0010
The Moral Foundations of Economic Growth

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Points out that Smith distinguished between self‐love and self‐interest, and based his theory of economic exchange firmly on the former. It explains why Smith's theory of capital and economic growth was based on virtue. It describes the differences between the real eighteenth‐century Adam Smith and the pseudo Adam Smith in economic theory.

Keywords: capital; economic exchange; economic growth; economic theory; self‐interest; self‐love; virtue

Chapter.  6073 words. 

Subjects: History of Economic Thought

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