Adam Smith did not directly define the goal and structure of sustainable markets. The reasons for this can be attributed to abstract thinking that did not integrate economics with the environment or account for environmental costs. Additionally, Smith's focus was on production and consumption as means to achieve welfare, without emphasizing long-term planning to ensure the sustainability of natural resources for future generations. Social and economic issues were also managed separately from the concept of sustainability, as environmental knowledge and its economic impact were limited at the time.

Smith emphasized the free market, the division of labor, and self-interest as sufficient mechanisms to achieve collective welfare. There was no clear vision of concepts like the circular economy or the green economy. All of this can be traced back to the historical circumstances and economic context of that era.

Good day Maha

When you have time, read the article 2015, and then you can contrast the food for thoughts shared there with your thoughts and then you can comment again if you would like.

I shared the similar ideas from a different angle in 2012 as the process of fixing traditional market thinking became a consequence of the WCED 1987 call to go BEYOND business as usual ,and you may find them interesting:

Complex and Man-made Markets: Are We Currently Approaching Sustainability in a Backward and More Chaotic Way in Terms of Economic Thinking?

Article Complex and Man-made Markets: Are We Currently Approaching S...

Yes

Alyaa, thank you for taking the time to write.

Respectfully yours;