Sic et Non: Three Remarks of Adam Smith to Economics of Governance

SVOBODA, František. Sic et Non: Three Remarks of Adam Smith to Economics of Governance. Review of European Studies. Canadian Center of Science and Education, 2013, vol. 5, No 5, p. 97-110. ISSN 1918-7173. Available from: https://dx.doi.org/10.5539/res.v5n5p97.

Basic information

• Original name: Sic et Non: Three Remarks of Adam Smith to Economics of Governance
• Authors: SVOBODA, František (203 Czech Republic, guarantor, belonging to the institution).
• Edition: Review of European Studies, Canadian Center of Science and Education, 2013, 1918-7173.

Other information

• Original language: English
• Type of outcome: Article in a journal
• Field of Study: 50200 5.2 Economics and Business
• Country of publisher: Canada
• Confidentiality degree: is not subject to a state or trade secret
• RIV identification code: RIV/00216224:14560/13:00069471
• Organization unit: Faculty of Economics and Administration
• Doi: http://dx.doi.org/10.5539/res.v5n5p97
• Keywords in English: public economics ; Adam Smith; reciprocity; opportunism; government; public policies
• Tags: International impact, Reviewed

Abstract

The work of Adam Smith is often interpreted as a justification of the natural order of economy, an apology which harmonizes individual and public interests. In addition to the concern for the economic system, Smith’s books comprise valuable passages in which the role of the state is explored within its both negative and positive implications. Generally, the corpus of his work includes three problem areas of fundamental importance for public economics. The first of these fields consists in the presentation of the tendency toward reciprocity as a significant trait of human behaviour. The second main topic constitutes a definition of the role of the State in economy, and it is based not only on the strictly economic assumption that the State ought to finance activities not profitable for a private person, but also on numerous exceptions. The third central issue then concerns the opportunism of individuals in its various forms. As the outlined topics are crucial for public economics, a further insight into Adam Smith’s ways of approaching them may be rewarding.

Links

• MUNI/A/0778/2012, interní kód MU: Name: Vybrané modely veřejné ekonomie v experimentálním prostředí

Investor: Masaryk University, Category A