“Concern for our own happiness (self interest) recommends to us the virtue of prudence (self-command), concern for that of other people, the virtues of justice and beneficence –- of which the one restrains us from hurting, the other prompts … (us) to promote that happiness.”
He didn’t intend for some people to become extremely wealthy at the expense of everyone else and everything else including nature.
Much like the stoic emperor Marcus Aurelius, Smith believed in the virtue of moderation because it threatens our social structure and the capacity for effective decision-making when you confuse wealth and power with wisdom.
Unfortunately, economists seem to have taken what benefits elites and ignored the warnings for excess.
How will business leaders operate in a future world which can no longer accept simplistic and short term thinking, decision-making and hierarchy?
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