I discuss how Adam Smith’s moral theory explains the rise and fall of environmental sustainability, social responsibility, and corporate governance (ESG) as the gold standard for sustainable and responsible business practices. First, I explain how the rising popularity of ESG challenged the economic theory of the firm based on narrow self-interest and shareholder primacy. Second, I present...
This chapter explores the meaning of agency for artificial intelligence (AI) and raises questions about human-AI interaction, particularly focusing on social chatbots. Using Adam Smith's theory of sympathy as a framework, we explore how the absence of fundamental emotions like sympathy hampers machines' ability to understand and ethically respond to certain situations, thereby questioning...
