Does " circumscribed by" mean "restricted by"?

Context:


How are social and moral capital created? What role do ethical norms play in economic
development and human progress? Adam Smith!¯s theories, propounded inThe Wealth of Nations and
Theory of Moral Sentiments, demonstrate the virtues of self interest, yet it is a self interest circumscribed by
the underlying fabric of social and ethical capital. The invisible hand of Smith operates in a moral context.

Smith!¯s message!aobscured by centuries omisinformation and caricature!ahas never
been more vital for sustaining business and society. What role do ethical
considerations play in managing a business, developing trust, and reducing
transactions costs?