The Role of Institutions in Social Cohesion

Western democracies have to recognize what was underpinning many of these ideas that emerged in the 18th, 19th and early part of the 20th century. Adam Smith warned very clearly the theory of moral sentiments about the importance of strong senses of morality for people's economic dealings with others. And underpinning his idea was the notion of this common purpose, which in the case of business was very well described by its origin of the company in the term, components. In other words, the breaking of bread together in a company and the notion of common unity in the community and society.