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I n The Wealth of Nations, published in 1776, Adam Smith famously argued that economic behavior was motivated by self-interest. But 17 years earlier in 1759, Smith had proposed a theory of human behavior that looks anything but selfinterested. In his first book, The Theory of Moral Sentiments, Smith argued that behavior was determined by the struggle between what Smith termed the “passions” and...

......................................................................................................................... 2 Trust: Economic Notions and its role in Money and Banking – An Introduction ....... 11 Realism .................................................................................................................... 12 Open Systems and Closed systems .............................