The Answer Is Transaction Costs cover image

Adam Smith's Wealth of Nations: Episode #2--The "Model"

The Answer Is Transaction Costs

00:00

Delving into Prudence and Self-Command in Moral Sentiments

This chapter delves into Adam Smith's notions of prudence and self-command from his Theory of Moral Sentiments, emphasizing the importance of sacrificing immediate pleasures for lasting rewards. It highlights how acting with self-command reflects true virtue and aligns one's actions with moral understanding, as judged by an impartial spectator.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app