Adam Smith: Conceptions Of Value

Part I of Essay
Among many other contributions to society, Adam Smith made an immense impact that is still evident today. In his Wealth of Nations, he concentrates on self-interest and its relation to both the economic and moral societies. Through this concentration he brings in value t ....

Part II of Essay
.... has a choice of the way it behaves. No one can predict the future for the present state of all matter is unknown. This is one reason he focused on morality. The way in which one behaves suggests their morals. Morality is primarily concerned with attempting to define what is good for the individual and also the society. If the good is known, the obligation to pursue it becomes evident. People must decide in each new situation what their duties are. Morality and self - interest are connected. To have good morals one must decide what ....