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David Levy

David Levy is a professor of economics at George Mason University. His research specialties include the relationship of spending to productivity in research and development and the statistical estimation of ethics in consumer choice. Levy received his PhD from the University of Chicago, where he wrote his thesis under the direction of Nobel Laureate George Stigler.
Democracy

Adam Smith’s Moral Philosophy Complicates Interpretations by the Chicago School and Its Critics

Sandra Peart
The connections between Adam Smith’s Wealth of Nations and Theory of Moral Sentiments reveal a much more complicated understanding of how markets work than developed in the common interpretation by the Chicago School of economics or that of its critics. Smith’s political economy based on commerce, sympathy, and competition produced social good but only when complemented and checked by other forces. When not checked, Smith worried about “factions” that produce bad outcomes, write Sandra J. Peart and David M. Levy.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

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