The role of liberty in smith's critique of feudal economy
DOI:
https://doi.org/10.31977/grirfi.v24i2.4783Keywords:
Adam Smith; Market Economy; Social Institutions; Individual Freedom; Morality; Politics.Abstract
Smith's contribution to the discussion on market economics and its relationship with moral and politics is discussed in this article. It is argued that the author's economic approach is incorporated into the concept of natural liberty and that free trade represents his response to the feudal system to prevent corruption and inequality. The text focuses on reconstructing the Scottish philosopher's economic defense of market economics, including his criticisms of regulatory wage policies, guild systems, and grain provision. It is argued that these policies violate individual justice and freedom norms and hinder economic growth. Individual freedom is defended by Smith as a natural right and a form of emancipation from domination relations in the economic sphere. In summary, the article offers a general perspective on how the author employs the concepts of freedom and economic well-being to defend liberal reform against feudal mercantile practices.
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