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Competitiveness and Sustainability in Smithian Economic Thinking

Author

Listed:
  • Mircea CRICOVEAN

    (Universitatea "Ioan Slavici" din Timișoara)

Abstract

The present study reviews the economic perspective of the great philosopher Adam Smith regarding the economic issues of his time. Both of his works, The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations, emphasize the necessity of individual freedom for human beings to develop their professional personality within an economic system based on equality and liberty. The state plays an extremely important role, being responsible for ensuring an efficient legal framework so that the nation’s wealth can grow through real competitiveness and sustainability. It is well known that the economic system can function at a high level only in a civilized society, without the state acting as an arbitrator through brutal intervention to impose order on society. Furthermore, the economic system must not only defend public goods and guarantee private and public property, with a social program focused on supporting disadvantaged social classes, but also uphold individual freedom and national security.

Suggested Citation

  • Mircea CRICOVEAN, 2025. "Competitiveness and Sustainability in Smithian Economic Thinking," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 6(2), pages 2-7, February.
    • Handle: RePEc:ahd:journl:v:6:y:2025:i:2:p:2-7
    DOI: 10.37945/cbr.2025.02.01
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    More about this item

    Keywords

    economic liberalism; work; division; competitiveness; sustainability; state;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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