In analysis of the reciprocal relations which link together the evolution of the relations of subordination, personal incentives, and the division of labor with special reference to the agricultural and the commercial stages, Adam Smith pointed out the exclusive role performed by personal...

The aim of the first part of this paper is to analyse the role of institutions in Smith's thought, with special emphasis upon the reciprocal relations which link together individual behaviour, the evolution of property rights, relations of subordination and personal incentives up to the...

Analysis of Hearn's approach to industrial localisation shows that he anticipated with unusual acuteness some issues also addressed by contemporary debate on the cause of the rise and competitiveness of firms' conglomerations. One of the main themes of Plutology is analysis of efficiency and the...

A comparative reading of The Wealth of Nations and of The Theory of Moral Sentiments has made it possible to identify the characteristics of Smith's 'undertaker', and to reveal the irreconcilable nature of these with those that Bentham ascribed to 'projectors'. In particular, Smith developed a...