In The Theory of Moral Sentiments, Adam Smith explored the cultural milieu that produces our sense of right and wrong. In this work, which laid the groundwork for The Wealth of Nations, Smith notes that it’s human nature to seek praise and praise-worthiness. This basic tendency, he supposes, forms a social glue that keeps our societies ticking along.
He who coined “the invisible hand of the market” in fact seemed to view morality and markets as complementary, not competing, forces. How might this perspective apply to urban development? Continue reading “The Hierarchy of Nobel-Prize-worthiness”