Word: also
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...Smith was also onto something that many free-market fans who pledge allegiance to him miss. The world is a complicated place. Markets don't exist free of societies and governments and regulators and customs and moral sentiments; they are entwined. Also, while markets often deliver wondrous results, an outcome is not by definition good simply because the market delivers it. Some other standards have to be engaged...
...than it's usually made out to be. He certainly wouldn't have been opposed to every government intervention in the market. On financial reform, it's easy to imagine Smith supporting the creation of a Consumer Financial Protection Agency and crackdowns on giant financial institutions. He might have also favored the just-passed health care reform bill, at least the part that requires states to set up exchanges to ensure retail competition for health insurance...
...also noted that the Institute, which plans to offer three fellowships for Allston/Brighton public school teachers, would give back to the community...
...also said he looks forward to working with undergraduates—many of whom will pursue finance-related careers—and helping them understand economics in a more “sophisticated” and “academic?...
Colleagues say that his unique combination of experiences also make him an effective head of the Ad Board, Harvard’s primary disciplinary body...