Adam Smith’s philosophy is not an easy concept to grasp. The principles are straightforward, but wading into his book “The Theory of Moral Sentiments” is not a task to be taken lightly.
However, there’s a new and fascinating breakdown of the pertinent details that has been grafted together by the Stanford Encyclopedia of Philosophy that’s worth checking out.
It’s a big wordy though. Thankfully Matt Zwolinski over at Bleeding Heart Libertarians has got an excellently-written summary of the whole thing, that provides a nice overview and commentary.
If only the powers that be were a little more like Adam Smith, and a little less like Melvyn King…