The importance to Smith of the overall set of values in which the economy operates is generally ignored by his followers in the late twentieth century. His economics, based upon individual self-interest, is remembered, but his moral framework is not. (Paul Ormerod)

The importance to Smith of the overall set of values in which the economy operates is generally ignored by his followers in the late twentieth century. His economics, based upon individual self-interest, is remembered, but his moral framework is not.

Paul Ormerod

Related topics

century economics late overall self-interest set

Related quotes

The aspect of congresses and such meetings generally to which I attach the greatest importance is the discussion. That is why people assemble: to hear different opinions, rather than to pass resolutions.

Fredrik Bajer

I am almost inclined to set it up as a canon that a children's story which is enjoyed only by children is a bad children's story. The good ones last. A waltz which you can like only when you are waltzing is a bad waltz.

C. S. Lewis

Commissions suit me. They set limits. Jean Marais dared me to write play in which he would not speak in the first act, would weep for joy in the second and in the last would fall backward down a flight of stairs.

Jean Cocteau

Nothing seems at first sight less important than the outward form of human actions, yet there is nothing upon which men set more store: they grow used to everything except to living in a society which has not their own manners.

Alexis de Tocqueville

A ghost story of which the scene is laid in the twelfth or thirteenth century may succeed in being romantic or poetical: it will never put the reader into the position of saying to himself: "If I'm not careful, something of this kind may happen to me!"

M. R. James