Beware, Selfish Free Market Types, Adam Smith Isn't the Ally You Really Want
Amartya Sen corrects the Wall Street Interpretation.
Here's an excerpt:
The typical understanding of The Wealth of Nations has been
constrained, to the detriment of economics as a subject. The neglect
applies, among other issues, to the appreciation of the demands of
rationality, the need for re cognising the plurality of human
motivations, the connections between ethics and economics, and the
codependent rather than free-standing role of institutions in
general, and free markets in particular, in the functioning of the
... Smith argues that while "prudence" was "of all virtues that which
is most helpful to the individual", "humanity, justice, generosity,
and public spirit, are the qualities most useful to others".
The full piece is here: