Stephan Schulmeister über die nächste Krise – #113

Adam Smiths "An Inquiry into the Nature and Causes of the Wealth of Nations" (Wohlstand der Nationen) ist ein wegweisendes Werk der Ökonomie. Smith beschreibt die Funktionsweise des freien Marktes und die Bedeutung von Arbeitsteilung und Spezialisierung. Er argumentiert für eine Politik des Laissez-faire und gegen staatliche Eingriffe in die Wirtschaft. Das Buch hatte einen tiefgreifenden Einfluss auf die Entwicklung der modernen Ökonomie und bleibt bis heute ein wichtiges Werk für das Verständnis von Märkten und Wirtschaftswachstum. Es ist ein komplexes und vielschichtiges Werk, das verschiedene Aspekte der Wirtschaft beleuchtet.

Published in 1759, 'The Theory of Moral Sentiments' is Adam Smith's first major published work, based on his lectures at Glasgow University. The book argues that morality is driven by humanity's natural sociability and the need for approval from peers, rather than by rational calculation or innate moral sense. Smith introduces key concepts such as sympathy, the impartial spectator, and the invisible hand, which explain how individuals judge the conduct and character of themselves and others. The work delves into the emotional and social aspects of human behavior, highlighting the role of emotions like pity and compassion in shaping moral sentiments and behaviors.

In this book, Hayek warns of the dangers of government control of economic decision-making through central planning, arguing that this inevitably leads to tyranny, the creation of an oppressive society, and the serfdom of the individual. He challenges the view that fascism and Nazism are capitalist reactions against socialism, instead arguing that they have common roots in central economic planning and the empowerment of the state over the individual. The book was written as a response to the report by William Beveridge and made a significant impact on 20th-century political discourse, particularly in American conservative and libertarian debates.