Join us in Great Barrington for a special event with Nobel Prize-winning economist Dr. Vernon Smith.
Dr. Vernon Smith will present a talk based on his new book Adam Smith’s Theory of Society, recently announced by Palgrave MacMillan Nature.
Adam Smith’s theory, primarily articulated in The Theory of Moral Sentiments, is about the emergence of rules created and followed by ordinary people in their ordinary day-to-day interactions. These rules fall into two categories: Beneficence or Justice. Beneficence reflects the good we do for one another — acts of kindness and community that create social reciprocity. Justice, on the other hand, is about limiting and controlling the bad things we do to each other — murder, theft, robbery, and violation of contract — and thereby gives us property in mind/body, the products of our mind/body, and in the promises of others. These principles extend naturally to economic exchange, which allows people to specialize, ultimately explaining the origin of prosperity and the rise of the Wealth of Nations.
Don’t miss this opportunity to hear from one of the world’s most influential economic thinkers in an intimate and thought-provoking setting.
Registration is required.
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About the Speaker
Vernon L. Smith Ph.D. was awarded the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in experimental economics. He is George L. Argyros Endowed Chair in Finance and Economics, Professor of Economics and Law at Chapman University.
Vernon has authored or co-authored more than 300 articles and books on capital theory, finance, natural resource economics, and experimental economics. He serves or has served on the board of editors of the American Economic Review, The Cato Journal, Journal of Economic Behavior and Organization, the Journal of Risk and Uncertainty, Science, Economic Theory, Economic Design, Games and Economic Behavior, and the Journal of Economic Methodology. He is past president of the Public Choice Society, the Economic Science Association, the Western Economic Association, and the Association for Private Enterprise Education.