This article introduces the moral philosophy underlying Smith's contributions to economics and emphasises the close connection between Smith's two principal works, the Theory of moral sentiments and the Wealth of nations.

Ákos Navratil (1875-1952) is an outstanding theoretical economist from the first half of the 20th century. A selection of his works was published as volume 8 in the series Classics in Hungarian Economics (Old truths and new theories in economics by Ákos Navratil, (int., ed. by M. Hild)). The...