Interacting-for-Benefit > Government & Prosperity > Valuing Commerce (L1) > L2&3: Reducing Tensions

Reducing Social Tensions (L2 & L3)

Two Needs of Commerce

Enforcement of Laws (L2) uses Power-centred Principles

Regulators must actively enforce laws to prevent and punish fraud and unfairness in contracts, in markets, and other aspects of commerce.

Promotion of Capitalism (L3) uses Cause-centred Principles

Adopting and adapting a capitalist ideology enables people to accept their responsibility for thriving and to tolerate periodic crises.

Enforcement of Regulations & Laws (L2): Power-centred

Governments need to be sensitive to the operation of power in markets and be prepared to use their coercive power to prevent and punish abuse.

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Culturally-adapted Capitalism (L3):

Adam Smith’s work The Wealth of Nations, combined with his analyses in A Theory of Moral Sentiments, still provide the touchstone for a humane and realistic capitalism. However, only the essence is relevant here i.e. basic matters like private ownership, market transactions, property rights, legal recognition of contracts &c.

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All posted material is part of a scientific project and should be regarded as provisional. Visitors are encouraged to think through the topics and propositions for themselves. Copyright © Warren Kinston 2009-2016.
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