Is The Wealth of Nations’ Third Duty of the Sovereign Compatible with Laissez Faire?

In section 1 we will discuss the property rights aspect of public works in The Wealth of Nations. Section 2 will clarify the role of the sovereign in establishing private joint stock companies in order to collect the vast amounts of capital needed for the supply of public works, especially those supporting commerce. Finally, in section 3, the case of education will be similarly analyzed from the point of view of economic institutions.

Volume 20, Number 2 (2006)