OPINION

Adam Smith and the moral economy we have lost

Oped, Antara Haldar, Published on 12/11/2025

» With the 250th anniversary of The Wealth of Nations approaching next year, the world is gearing up to honour Adam Smith. But which Smith should be recognised? The hard-nosed "founding father" of modern economics, or the philosopher who wrote The Theory of Moral Sentiments? Scholars have wrestled with this question, a riddle known as "Das Adam Smith Problem", for centuries, because it concerns not just dualities within Smith's thought, but also our own uneasy relationship with morality and markets.