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chapter 16 commercial r elations: from adam smith to field experiments 1 m aria p ia p aganelli Adam Smith is oft en referred to as the father of economics and as a promoter of free markets. In what follows, I let the fi rst claim stand and concentrate on the second: that Adam Smith is a promoter of free markets. In particular, I take for granted, with all the necessary caveats, that Smith is a promoter of free markets (but cf. e.g. Fleischacker 2004; McLean 2006) and concentrate on how Smith promotes free markets. Smith promotes free markets for at least two reasons: effi ciency and morality. Th ere is already a vast and detailed literature on the economic effi ciency of the markets Smith describes. Here I focus on the claim that Smith promotes free markets on moral grounds and argues that markets can foster morality just as much as morality can foster markets. Th e analysis bears on current debates in at least three ways. First, moral constraints i