Adam Smith and banking behavior: Economic rationality or imprudence?

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Published: Sep 4, 2023
DOI: https://doi.org/10.22201/fe.18701442e.2023.46.86622

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Daniel Mirón
Doctorando del Posgrado de Economía, UNAM.

Abstract

Adam Smith's contributions on monetary and banking aspects have been little appreciated. Traditionally, modern or conventional economic theory has attributed to Smith ideas on economic behavior associated with a supposed rationalism based on the maximization of individual interest. Therefore, the aim of this paper is twofold: on the one hand, it investigates the dominant interpretation of Adam Smith's work, which has been based on the free market economic paradigm, refuting the rational nature of the behavior of economic agents. And, on the other hand, it seeks to reevaluate the ideas of his thought linked to the ethical aspect of economic behavior, a key piece for a better understanding of the imprudent banking behavior for the issuance of debt in the capitalist system.

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How to Cite
Mirón, D. (2023). Adam Smith and banking behavior: Economic rationality or imprudence? . Ola Financiera, 16(46), 178–196. https://doi.org/10.22201/fe.18701442e.2023.46.86622

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