THE ETHICS OF ADAM SMITHAND FOR ECONOMIC SYSTEMS
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loginAdam Smith (1723 –1790), the initial founder among the greatfounders of economics, lived and wrote toward the end of theScientific Revolution and near the beginnings of the EnglishIndustrial Revolution. He was a teacher of moral philosophy(broadly speaking, what is today called ethics)and not the firstperson ever to search for a coherent pattern in the apparent chaosof the natural and social world. He is famous because of his successin finding order and harmony in the turbulent business of buyingand selling goods. He provided both a moral defense and ascientific blueprint for the market exchange system sufficientlymemorable to continue to remain a way of describing theeconomic organization of the industrial market economies such asthe United States, Japan, and the Federal Republic of Germany.
