Skip to main content

Institute for Regenerative Systems Architecture^™IRSA^™Catalysing systems designed for renewal

Loading...

Catalysing systems designed for renewal.

Research

Pathways
Theory
Explainers
Papers
Case Studies
Comparisons
Frameworks
Sectors

Learn

Why Institutions Fail
Why Reforms Fail
Why Governance Fails
Why Accountability Fails
Short-Termism
All Entry Points →

Apply

Diagnostics
Dashboards
Programs
Constellation ↗
Elevate ↗
Gifted Press ↗

About

About
Approach
Governance
People
News
Contact
For Boards
For Researchers
For Treasury

Newsletter

New research delivered to your inbox.

© 2026 Institute for Regenerative Systems Architecture™ (IRSA™). All rights reserved.

Back to Glossary

Circulatory Economics

Das Adam Smith Problem

Definition

The apparent contradiction between Smith's two works — Wealth of Nations (self-interest) and Theory of Moral Sentiments (sympathy). Circulatory Economics argues they describe the same person seen whole.

Example

CE restores Smith's relational, sympathetic actor alongside the self-interested one — the 'problem' dissolves when the unit of analysis is the relationship, not the individual.

Source

CE Section 2

Read Explainer View Paper

Related Terms from Circulatory Economics

Circulatory Economics

Velocity Variable

Circulatory Failure

Accumulation Paradigm

Relational Unit

Explore the Full Glossary

Search 920 terms across all IRSA research papers.

Browse All Terms