Author: gqSbgCfmna

With the 250th anniversary of The Wealth of Nations approaching next year, the world is gearing up to honour Adam Smith. But which Smith should be recognised? The hard-nosed “founding father” of modern economics, or the philosopher who wrote The Theory of Moral Sentiments? Scholars have wrestled with this question, a riddle known as “Das Adam Smith Problem”, for centuries, because it concerns not just dualities within Smith’s thought, but also our own uneasy relationship with morality and markets.

The “problem” was first formulated in late-19th-century Germany, where economists of the historical school, including Wilhelm Hasbach and August Oncken, saw a glaring contradiction between the compassionate, sympathy-driven moral psychology of Smith’s first book and the self-interested calculus of his second. To them, the sentimental Scot of 1759 was irreconcilable with the architect of capitalism of 1776.

This contradiction suited the intellectual temper of the time. As industrial capitalism took hold, economics was busily reinventing itself as a “science” detached from ethics, while philosophy and theology were left to fret over the moral wreckage. Das Adam Smith Problem thus became a projection of modernity’s own split personality: one half was absorbed by mechanism and efficiency, the other by conscience and community.

Yet the German historicists were wrong, or at least incomplete. Later readers — from Jacob Viner, a founder of the Chicago school of economics, in the 1920s, to the editors of the “Glasgow Edition” of Smith’s works in the 1970s (who saw only a “pseudo-problem based on ignorance and misunderstanding”) — showed that the two books shared a philosophical spine. Far from renouncing his earlier moral philosophy, the later Smith had extended it to the economic sphere. The “invisible hand” was never meant as an ode to greed; it was a metaphor for the way that social benefits can arise from individual human motives (or “passions”), provided that institutions channel them appropriately.

As Smith’s contemporary and friend David Hume observed, the scaffolding of social order rests on a fragile blend of self-love and sympathy. Smith’s own answer to the human predicament was not to abolish self-interest but to channel it through habits of virtue, civic trust, and the judgment of an imagined “impartial spectator”. Markets, in this vision, were not moral vacuums but extensions of moral life.

The misunderstanding endures because modern economics, in its quest for predictive precision, amputated Smith’s psychology. In the 20th century, as models grew more mathematical, “economic man” was stripped of sentiment and context. The Enlightenment’s nuanced moral agent was replaced by a stick figure of rational calculation.

It was the Nobel laureate economist Amartya Sen who brought the original debate back to the fore. “The so-called Adam Smith Problem,” he wrote, “is largely of our own making”. For Sen, Smith’s idea of self-interest was never naked greed, but a sentiment woven into the fabric of social life — one disciplined by prudence, justice, and benevolence. The contradiction, Sen suggests, lies not in Smith, but in our own impoverished reading of him. It is we who have elevated greed as a virtue.

Recent scholarship has added to this insight. The Boston University philosopher Charles Griswold portrays Smith as a philosopher of virtue, while the Harvard University economic historian Emma Rothschild has restored his Enlightenment humanism. Together, they show that the division between the moral and the economic is a historical artefact — one that we urgently need to dispense with.

With the fissure between morality and markets emerging as the central fault line of our age, this task has become more pressing than ever. From the 2008 financial crisis and the rise of populism to the planetary emergency of climate change and misaligned AI, what further evidence do we need that our economy is unmoored from ethics? Why are we still clinging faithfully to the idea of a global economy that will, by some alchemy, turn financial self-interest into the common good?

Revisiting Smith through the lens of Das Adam Smith Problem reveals a thinker who might guide us out of this impasse. Far from preaching laissez-faire to the exclusion of all else, Smith was preoccupied with moral education and institutional design.

He warned that commerce, if not accompanied by civic virtue, would corrupt “moral sentiments”. He anticipated the distortions of inequality and the dangers of what we would now call “regulatory capture.”

Smith’s answer was neither state socialism nor unbridled markets, but something subtler: a moral economy grounded in sympathy and the pursuit of human flourishing.

In that sense, he stands closer to Aristotle’s virtue ethics, or even to modern behavioural and cooperative economics, than to the mechanistic utilitarianism often attributed to him.

The irony is that in our rush to claim Smith as the father of modern economics, we have exiled the Smith that might redeem that discipline. We have failed to recognise his two key works as complementary elements of a unified, albeit unfinished, “science of man”.

By solving Das Adam Smith Problem, we would also close the rift between efficiency and empathy that is undermining our entire civilisation.

The problem lies not in Smith, but in our own society. If 18th-century thinkers identified it, we must resolve it, not by resurrecting markets or morals alone, but by reviving the dialogue between them. Smith began that exchange, and we have yet to finish it. ©2025 Project Syndicate

OLive Music presents “Lanna Opera: Voice Of The North”, a concert that celebrates identity, friendship and the evolving sound of Thai classical music, at Sala Sudasiri Sobha, Lat Phrao 41 yaek 7-2, on Sunday at 4pm.

This is an afternoon of music and storytelling with Voci Dal Nord, a Chiang Mai-based opera duo whose passion for classical singing has led to this truly special performance.

It marks not only their Bangkok debut but also the launch of their first album, featuring original operatic works written and performed in Thai as well as songs in the northern Lanna dialect.

Winner of Sala Sudasiri Sobha’s Free Stage programme, Voci Dal Nord — comprising Elden Handojo and Worawee Saikhum — brings fresh energy and local identity to Thailand’s classical scene.

Their music bridges European opera traditions with Thai linguistic and cultural expression, creating something rarely heard before — Thai-language opera with northern roots.

Handojo, originally from Jakarta and raised in Thailand, combines his background in khon drama and classical guitar with a deep love for vocal performance. His artistic path took him from the Chiang Mai College of Dramatic Arts to founding Sama Sama Kafe & Studio, a community space where music, creativity and local culture meet.

A Chiang Mai native, Worawee began as a choir singer before developing into a classically trained tenor under the guidance of respected Thai teachers. His warm tone and expressive phrasing have quickly earned him recognition as a rising voice in Thailand’s operatic landscape.

The two singers met during a masterclass two years ago and immediately connected over their shared dream — to make opera accessible and meaningful for Thai audiences.

Together, they started free choral classes at Sama Sama Kafe & Studio, helping young singers find their voices and discover the joy of classical singing.

Their upcoming concert will highlight this journey — from Chiang Mai’s small stages to Sala Sudasiri Sobha, one of Bangkok’s most beautiful concert halls.

The amended alcohol control legislation that imposes fines on individuals who continue drinking alcoholic beverages during restricted hours — particularly between 2pm and 5pm — has left the government in hot water.

Under Section 32 of the amended law, which took effect this week, those who make their last order at 1.55pm are required to empty their glasses within five minutes or less. If not, they face a maximum fine of 10,000 baht. It is the first time the law has begun targeting individuals, including tourists — previously, it punished only shop or restaurant owners who sold alcohol during prohibited hours — and the details of the law go into such minuscule detail that it borders on the nonsensical.

Opposing the law is the Thai Restaurant Association, which is concerned about the adverse impact on businesses already experiencing hardship due to the economic slowdown.

Taopiphop Limjittrakorn, an MP from the opposition People’s Party — which advocates easing alcohol control — has warned that the amended rule is likely to confuse foreign tourists, particularly if they order drinks before the restricted hours but do not finish by the 2pm lunchtime deadline.

As the amendment also involves advertising rules, several agencies have said the provisions remain confusing and difficult to explain with the short scope offered by a print or television advert.

With regard to punishment against slow drinkers, critics argue that the penalty is not proportionate. Needless to say, the 10,000-baht fine is too harsh. A senior health officer, in a bid to calm public concern, ominously stated that the fine is not entirely fixed, but down to the individual discretion of local law enforcement officers.

This does not bode at all well in a country known for its high corruption rates.

The immediate question is how the new law will be properly enforced. Will there be ethics police doing the rounds, checking every glass? More importantly, some netizens have voiced concerns that, as mentioned above, the law could provide an opportunity for authorities to line their pockets by demanding kickbacks.

The original legislation, based on a 1972 junta order, has never enjoyed strong public support. Often referred to as anachronistic and inconsequential, the law bans alcohol sales between 2pm and 5pm and again from midnight until 11am the following morning for most retail outlets, supermarkets and food shops.

A round-the-clock ban applies on major religious days such as Makha Bucha, Visakha Bucha, Lent and the end of Lent. Exempted from the rule are airports serving international flights, licensed entertainment venues, hotels and some tourist outlets — as well as wholesale traders purchasing in bulk.

Strict alcohol control advocates, including the Centre for Alcohol Studies (CAS), often cite drink-driving fatalities to support the ban and other tough measures. However, if they were willing to reconsider, they might recognise that such blanket restrictions do little to make Thailand’s roads safer, as traffic-related deaths remain high. It is reported that this year’s accumulated fatalities have surpassed 10,200 — almost the same as last year.

Indeed, what is needed is efficient enforcement of traffic laws, including robust action against reckless and drink-driving behaviour. Social drinkers who do not drive should not be subjected to impractical measures that serve only as a nuisance.

Amid economic volatility, maintaining quality at each branch and keeping the essence of the brand are the keys to dealing with fierce competition in the restaurant sector, according to Nittaya Kai Yang, the renowned Thai-Isan restaurant brand.

Raweewan Laksanavisit, founder of Nittaya Kai Yang, said what has driven the brand for 25 years is the desire to share the taste of home and the warmth of Thai hospitality.

The brand’s enduring success, according to Phadej Kantajinda, executive director of Nittaya Kai Yang Group, lies in its ability to evolve without losing its essence.

“Isan cuisine has always been popular, but the market is now more competitive than ever,” he said. “Our strategy is to maintain the soul of our food while modernising the customer experience, from restaurant design to service innovation and delivery channels.”

Mr Phadej said Nittaya Kai Yang’s growth is guided by four core strategies. The first is its winning zone, focusing on everyday comfort food with a universal taste that appeals to all.

The second is craftsmanship and quality, where great taste begins with great ingredients, supported by a central kitchen that ensures consistent flavours across every branch.

The third, building a bond business, emphasises creating strong emotional connections with staff and customers through warm service and memorable dining experiences.

Lastly, its location strategy prioritises selective expansion in high-potential areas to strengthen accessibility and sustain long-term growth.

Mr Phadej said increasing competition has prompted major restaurant chains to diversify their brands and focus on using high-quality ingredients to stand out.

“Maintaining stable prices during economic uncertainty is a key strategy for customer satisfaction. Internal management also plays a crucial role in cost control, allowing us to preserve both quality and reasonable pricing, even as costs climb,” he said.

This year, the company is allocating an investment budget of over 30 million baht to renovate three existing branches, Soi Sailom (Phahon Yothin Soi 8), Rangsit Khlong 2 and Pinklao, to create a more modern and contemporary atmosphere.

Nittaya Kai Yang has expanded beyond Bangkok for the first time this year, with a new branch at Lotus’s Saraburi, with investment of 8 million baht.

The company operates 31 branches, primarily located in Bangkok.

Over the past four years, Nittaya Kai Yang’s revenue has grown steadily, from 628 million baht in 2021 to 986 million baht in 2024.

The company expects to achieve sales of 1 billion baht in 2025.

He said for the next 3-5 years, the economy is expected not to perform well. The key challenge is to maintain the growth of existing branches rather than focus on expansion.

The University of the Thai Chamber of Commerce’s (UTCC) Competitiveness Center is calling on Thai entrepreneurs to build core competencies to ensure sustainable growth and adapt to the rapidly evolving platform economy structure.

This is also required to overcome the challenges stemming from the increase in commission fees being charged by digital platforms.

The recommendation follows the centre’s in-depth analysis in a white paper titled “Thailand’s Platform Economy in the Age of Creative Destruction: Pathways toward Sustainable Entrepreneurship and a Resilient Digital Ecosystem”.

The report connects Thai digital dynamics with two theoretical frameworks that gained recognition by receiving the 2025 Nobel Prize in Economic Sciences, which identify factors for sustainable growth through technological advancement. One is the “creative destruction” theory of Philippe Aghion from Collège de France and Peter Howitt from Brown University, who developed mathematical models explaining the creative destruction process. The model notes when new technologies and business structures replace old models, companies clinging to outdated technologies and business models cannot compete. Innovation thus simultaneously creates new possibilities while destroying existing structures.

Theerakorn Udomratanamanee, vice-dean for administrative affairs at UTCC’s Creative Entrepreneurship School, said the trend of raising fees among the digital platforms reflects a natural transition known as creative destruction. Platforms are moving from the market creation phase focused on massive investment to attract users to value creation, focusing on revenue generation for business sustainability.

With the value of online transactions projected to exceed 1.2 trillion baht in 2024, accounting for 6.5% of GDP, digital platforms have become a core economic infrastructure that entrepreneurs must utilise to full efficiency.

Supasan Preedawiphat, dean of the UTCC’s Creative Entrepreneurship School, said the 2025 “E-Commerce at the Crossroads” report by Blackbox Research indicates that Southeast Asian countries are transitioning from quantitative to qualitative growth.

To thrive in this new environment, entrepreneurs must build four technical competencies described as the “PACE” acronym.

The first competency (P) refers to “platform literacy and digital operations”. This competence requires a deep understanding of platform systems, efficient use of digital tools, and the ability to make data-driven strategic decisions. For instance, a coffee shop might use customer analytics to adjust advertising according to peak ordering times, which increases sales while reducing costs.

The second competency (A) refers to “added-value innovation and service excellence”. Entrepreneurs must have the ability to create product differentiation through innovation that adds value to products and the customer experience.

The third competency (C) refers to “collaborative brand trust with smart data use”, while (E) refers to “expansion readiness and regional integration” or the ability to connect to regional and cross-border markets.

Mr Supasan also cited another theoretical framework honoured with the 2025 Nobel Prize in Economic Sciences, which is the work of Joel Mokyr from Northwestern University. His work demonstrates through historical evidence that technology creates truly sustainable growth only when society has three foundations: advanced knowledge and science; technical proficiency of labour and the business sector; and institutions and rules that facilitate innovation emergence and widespread dissemination.

Mr Supasan said the government therefore has a crucial role in creating a new economic infrastructure. The state must progress from “regulator” to “co-designer of ecosystems”.

For a sustainable positive impact on all stakeholders in the platform ecosystem, the government’s regulatory role should comprise four main dimensions that refer to the “LEAD” acronym, Mr Supasan noted.

L refers to Linkage Creation, an investment in infrastructure and the fostering of linkages between various sectors. Thailand has starting points such as the Personal Data Protection Act but can build further, such as requiring platforms to notify sellers in advance when changing policies affecting stores in order to create transparency and fairness in the platform ecosystem.

E refers to empowerment through competence or continuously developing entrepreneurial skills using integrated training, tools, and tax incentives, while A refers to adaptive governance, creating flexible rules that upgrade product standards, link trade agreements, and build the “Thailand Trusted Source” image.

D represents distributed trust by building confidence through transparent mechanisms. Kittipong Sakornsathien, the centre’s director, said successful implementation of these measures could reverse the declining trajectory of Thailand’s competitiveness ranking.

Ramathibodi Foundation under the Royal Patronage of Her Royal Highness Princess Maha Chakri Sirindhorn has joined hands with Jaspal Group to create a special charity collection titled “The Power Of Sharing”.

The collection features commemorative items collaboratively designed by nine emerging fashion designers from Jaspal Group’s renowned brands — Jaspal, Misty Mynx, CPS CHAPS, CC Double O, Royal Ivy Regatta, LYN, Lyn Around, Jelly Bunny and Quinn.

• Jaspal, designed by Napassorn Lostapornpipit, takes inspiration from the values of sharing, love and togetherness. The design features a graceful line illustration of people holding hands on T-shirts and water bottles, conveying a sense of warmth, understanding and joy that radiates.
• Misty Mynx, designed by Kalaya Nark-on, reinterprets the power of sharing through the lens of modern, confident women who embrace individuality. The design appears on folding umbrellas and canvas bags.
• CPS CHAPS, designed by Narakorn Semachim, expresses the uplifting energy that comes from sharing. The design features a hand motif intertwined with a guitar pick, the brand’s signature symbol, representing cooperation, unity and mutual support. The design is featured on T-shirts, polo shirts and caps.
• CC Double O, designed by Kasama Chawuthai, conveys the small yet powerful impact that arises when one person extends a helping hand to another. This idea is captured through the image of a hand cradling a heart, ingeniously formed from the brand’s initials C and O. The motif appears on T-shirts and canvas bags.
• Royal Ivy Regatta, designed by Nutnicha Thamwarin, presents a chic scarf design inspired by the concept “Bloom”. Illustrated with a blossoming lily, the design symbolises rejuvenation and graceful growth, representing new life that springs from the kindness of giving. The scarf serves as a symbol of collective hope and vitality that breathes life into the society.
• LYN, designed by Benya Kantipsakul, presents the Infinite Love pattern on a shoulder bag, inspired by the idea that the heart serves as a bridge connecting givers and receivers through the sharing of happiness.
• Lyn Around, designed by Apirati Malisorn, conveys themes of love, support and collaboration within society through its designs on T-shirts, folding umbrellas and caps.
• Quinn, designed by Guarboon Chuanboon, reinterprets the meaning of giving through a uniquely shaped tank-shaped bucket bag.

All proceeds from the collection will go towards supporting underprivileged patients and procuring medical equipment for the Faculty of Medicine, Ramathibodi Hospital.

Artist Watoosiri Jansin, aka Artsaveworld, reflects on poor construction throughout Bangkok with her sculpture titled Maa Cherry Tid Tor Prapaa (Cherry The Dog Stuck In A Water Pipe). The long body of the dog reflects persistent issues.

Meanwhile, artist Napatsakorn Nikornsaen, aka Anxiety Storage, created a readymade installation in the form of Bangkok’s damaged sidewalks. There are puzzle pieces in the middle of the gap in the installation. The puzzle pieces sarcastically show that walking on Bangkok’s footpaths is similar to playing a game where people do not know what they will encounter.

Art pieces created by Watoosiri and Napatsakorn are displayed at the exhibition “We Will Pass Away Together: The Thai Art Of Surreal Survival”. Though these two artists are students at the Faculty of Decorative Arts, Silpakorn University, they had never worked together. They teamed up for this exhibition because the curator felt they share a similar humour.

Napatsakorn confessed that she was initially worried about showcasing together because their styles are totally different. While Watoosiri focuses on illustrations, Napatsakorn’s works are objects and installations. After working together, they became comfortable. They could express their own ideas and still maintain harmony between their works.

The exhibition “We Will Pass Away Together” was inspired by a meme during Covid-19.

“The exhibition title came about during the pandemic. At that time, people sent phrases to encourage each other such as ‘getting through this together’. However, someone came up with the phrase ‘we will pass away together’. This made us realise that even though we have to live in a country with structural flaws, Thai people still have a sense of humour for negative things they experience,” explained Napatsakorn.

“In this exhibition, we picked things that we found funny in everyday life. Actually, if everyone carefully looks at the root cause, we would not laugh. Instead, we would feel stressed every day. As citizens, we can only try to be optimistic. The exhibition curator Kristiya Chaisri also told us that on TikTok, foreigners call this kind of humour ‘Thai core’. For example, they were amazed at a clip of a man riding a motorcycle with a dog sitting on the back seat behind him.

“When we worked on the concept of Thai core, we thought that artwork does not have to be traditional or relate to temples. It should be contemporary and relevant to the daily lives of Thai people.”

Watoosiri Jansin, aka Artsaveworld, has gained recognition for using tua kak, which refers to human characters in traditional Thai paintings and literature. Unlike the main characters, tua kak do not appear in beautiful clothes since they represent ordinary people. Watoosiri makes her characters unique by painting them pink.

In “We Will Pass Away Together”, Watoosiri created illustrations and sculptures inspired by memes that she saw on the internet. Life Is Easy 1 and Life Is Easy 2 were inspired by floods.

Both illustrations depict local people enjoying their lives during the floods.

“I saw a meme of a man standing and watering plants in the middle of the flood. He seemed to have no idea what to do, so he came out to water the plants. Also during the floods, people used their motorcycles to surf and went out to drink. Another meme depicts two hairdressers washing a customer’s hair while everyone is chest-deep in the water,” Watoosiri explained.

System 1 was inspired by an odd experience when she once drove through a police checkpoint.

“That night I ate out, but did not drink any alcohol. I encountered a breathalyser checkpoint on Aksorn Road. When I pulled the car over, a police officer told me that the breathalyser mouthpieces had run out. He told me to blow directly on his face. I did so and he allowed me to go. I had no idea why they decided to do that, but it was a hilarious experience for me,” said Watoosiri.

Watoosiri felt inspired to illustrate System 2 which depicts a high-ranking military politician repeatedly saying “I don’t know” during his interview with reporters. Although the situation was serious and people felt stressed, that politician just responded “I don’t know” to all the questions.

The two artists also reflect the superstitious belief of Thais in the exhibition. Watoosiri’s Itsara Thaang Khwaam Chuea 1 (Freedom Of Faith 1) and Itsara Thaang Khwaam Chuea 2 (Freedom Of Faith 2) depict making offerings to fulfil one’s vows and making merit for a birthday. These two illustrations are displayed above zebra statues created by Napatsakorn to be used as offerings.

Napatsakorn is recognised for her solo exhibition “808080 Error Objects”, in which she designed everyday objects to look different, such as a knife with a sharp handle, crutches with wheels and a hairbrush with hard steel bristles. Napatsakorn explained that her concept was inspired by depression which was caused her to feel like an outsider among her family and society for years.

“If we cannot meet others’ expectations, will we become worthless? For example, if I am not a very nice friend, sibling or daughter, does it mean I am worthless? I created everyday objects with flaws, displayed them and let people judge whether these objects still have value,” explained Napatsakorn.

In this exhibition, Napatsakorn created a video which features a 3D model dog inspired by stray dogs at 7-Eleven stores.

“I created a video which looks like an online game. I am a dog lover who notices strays can be often found in front of convenience stores. If we take a look closer, stray dogs are another issue that have not been managed properly,” she said.

Sticker panels and postcards created by Napatsakorn hang on the wall to create an ambience like that of a local grocery store. One of the most interesting and hilarious stickers are of mosquitos.

Next to the sticker panels, there is a table displaying cards inspired by Pokémon. The cards feature several kinds of animal species in Thailand such as a city pigeon, a fat dog, a house lizard, a pooping cat, a cockroach egg and a worm.

Toilet Cube And The Mysterious Bugs is a sculpture inspired by public restrooms. On the white cube made from bathroom tiles, there are drain or moth flies often found in public restrooms. According to entomologists, these flies do not harm humans, but in large numbers they can be a nuisance and unsanitary.

“Going to public restrooms in Thailand is like trying your luck at a Japanese gachapon game. You do not know whether a tissue roll or a bidet spray will be available or not. I created this piece because I noticed many flies in public restrooms, but nobody mentions it, so I put them in the spotlight as the main character of the artwork.”

As an artist who creates sculptures and installations, Napatsakorn hopes that Thai people will appreciate other kinds of art rather than paintings. She believes everything is art depending on the perspective.

Watoosiri hopes that the exhibition will bring happiness to the viewers.

“If visitors smile, that will make me happy. They do not have to laugh at our artwork. I hope they can forget their stress and enjoy the art. That’s enough for me,” she said.