ANDDame Smith’s magnum opus, Inquiry into the Nature and Causes of the Wealth of Nations, considered a cornerstone of modern economics, celebrated its 250th anniversary on March 9. In celebrating this epic work, it is also worth reflecting on the long-standing conflict between two of Smith’s books — The Wealth of Nations (17976) and The Sentory of Nations (1796 Moral).
The “problem”, known as “Problem Das Adam Smith”, was first formulated by German economists of the historical school, such as Wilhelm Hasbach and August Oncken, in the late 19th century. They perceived a huge contrast between the sympathetic moral philosophy of Smith’s first book and the selfishness depicted in the second. Has Smith’s view really evolved over those 17 years?
Published – 05 May 2026 08:30 IST
