Adam Smith

Both Adam Smith's epistemology and his politics head to a stalemate. The former is under the opposing pulls of an essentialist ideal of knowledge and of a pragmatist approach to the history of science. The latter still tries to provide a foundation for a natural law, while conceiving it as non-absolute and changeable. The consequences are (i) inability to complete both the political and the epistemological works projected by Smith; (ii) decentralization of the social order, giving rise to several partial (...) orders, such as that of the market. (shrink)

I argue that the difference between the 17th century new moral science and Scholastic Natural Law Theory derived primarily from the skeptical challenge the former had to face. Pufendorf's project of a 'scientia practica universalis' was the paramount expression of an anti-skeptical moral science, a «science» both explanatory and normative, but also anti-dogmatic in so far as it tried to base its laws on those basic phenomena of human life that supposedly were outside the scope of skeptical doubt. Of the (...) Scholastic legacy to the new moral science, a dichotomy between an «intellettualistic» and a «voluntaristic» view of natural law (or between lex immanens and lex imposita). Voluntarism lays at the root both of theological views such as those of Calvinism and of political views such as those of Hobbes and Locke. A need to counterbalance undesirable implications of estreme voluntarism may account for much of 17th and 18th centuries developments in ethics and politics. Scottish natural jurisprudence, an expression of such quest for a third way between scepticism and extreme voluntarism, is less secular and more empirical than received wisdom admits of. One of its side-effects, namely a systematic, self-contained, and empirical economic theory, results from the search for a normative theory of social life on an empirical basis. The main tool for building such a theory, namely a view of societal laws as embedded in trans-individual mechanisms, derives from the voluntarist view of natural law as «imposed» law. Subsequent discussions of social issues based on the opposition of economic and ethical reasons originated partly from gross misreading of the Scottish natural jurisprudential framework for economic theory. (shrink)

This paper reconstructs the ways in which metaphors are used in the text of “The Wealth of Nations”. Its claims are: a) metaphor statements are basically similar to those in the “Theory of the Moral Sentiments”; b) the metaphors’ ‘primary subjects’ refer to mechanics, hydraulics, blood circulation, agriculture, medicine; c) metaphors may be lumped together into a couple of families, the family of mechanical analogies, and that of iatro-political analogies. Further claims are: a basic physico-moral analogy is the framework for (...) Smith’s psychological theory as well as for his overall social theory and for his theory of market mechanisms; a iatro-mechanical analogy is as pervasive as the physico-moral analogy and provides the framework for his overall evolutionary theory of society; the invisible-hand simile relies on the physico-moral analogy, and elaborates on the role of vis attractiva and vis a tergo in mechanics. (shrink)

I argue that Adam Smith, far from being a utilitarian as claimed by Alain Caillé, was instead a semi-sceptical philosopher who defended a pluralistic normative ethics of prudence, justice, benevolence, and, far from being the founder of the science of a system self-produced by the interaction of individual self-interests, was a sharp critic of the practices of the commercial society of his time in the name of liberty, justice, and equality. In a word, was from being the putative father of (...) Capitalism, Adam Smith was the father o a liberal left and a forefather of the present-day critics of globalization. (shrink)

The well-known Kantian passage on misology in the Foundations of the Metaphysics of Morals starts making fuller sense when located within the framework of Kant writings on philosophy of history where he contrasts civilization with moralization as two different phases in the growth of humankind. In this context, the growth of commerce and manufactures plays a distinctive role, namely that of means of fostering civilization, while pursuing a deceptive goal, namely happiness. Deception plays a basic role in the growth of (...) mankind, in so far as it allows for a hidden twofold teleology in human action. Men, while following the dictates of self-love, are systematically mistaken about the results they actually contribute in bringing about. Commerce brings different peoples into mutual relationship and thus paves the way to a cosmopolitan society. The growth of the arts and sciences provides preconditions for the growth of learned institutions, a free press, and a public opinion that are the basis on which reason may start being used in its critical capacities. This, that is Enlightenment, is a preliminary step to moralization, that is the jump of individuals from a state of minority to a state where they are masters of themselves. The twofold teleology of human action makes room for a system of "pragmatic" ends, and of laws connected to the former, that may be studied rationally in themselves and yet are connected to the higher ends established by reason in its "practical" capacities. (shrink)

In this paper I reconstruct the birth, blossoming and decline of an eighteenth century program, namely “Moral Newtonianism”. I reconstruct the interaction, or co-existence, of different levels: positive theories, methodology, worldviews and trace the presence of scattered items of the various levels in the work of Hume, Adam Smith, Adam Ferguson, Dugald Stewart. I highlight how Mirowski’s reconstruction of the interaction between physics and economics may be extended to the eighteenth century in an interesting way once the outdated reconstruction of (...) Adam Smith that has been adopted by Mirowski is updated. I show how general methodological ideas, such as the distinction between ultimate causes or essences and intermediate principles, that originated in a context where the issue was the interaction between natural science and theology, proved useful when transferred to social theory in encouraging a kind of “experimental” approach to social phenomena. I discuss finally the genesis of frozen metaphors such as equilibrium, circulation, and value, arguing that Canguilhem’s lesson – namely that scientific change is produced not only by similarity but also by opposition – may be applied also to the history of economic thought. I take as an example Adam Smith’s ‘discovery’ of social mechanisms vis-à-vis his sceptical mistrust of neo-Stoic and Platonic views of a world-order. (shrink)

I argue the existence of two tensions in Smith's system of ideas: the first is that between the postulate of an invisible noumenal order of the universe and the imaginary principles by means of which we connect the phenomena; the second is a tension between the noumenal order of the world where 'is' and 'ought' converge, and the various partial orders that may be reconstructed in social phenomena that leave room for irrationality and injustice. My first claim is that these (...) tensions are dialectical tensions in a unitary, albeit rhapsodically presented in writing. My second claim is that, the system’s unanswered question in the moral domain is a ‘metaphysical’ and ‘theological’ question, namely the problem of evil; by implication, I contend also that Smith was no secularist, but instead a post-skeptical fideist or agnostic, who took Bayle's question: "why are men wicked and unhappy?" quite seriously. His private ethics of prudence, justice, benevolence and his public ethics of liberty, justice, equality were modest proposals for coping with the problem of social evil in our imperfect world. (shrink)

Scottish philosophy and intellectual history have become the increasingly fashionable fields of academic studies. Alexander Broadie, one of the pioneers and an accomplished scholar of the Scottish Enlightenment, returns to the basic question, namely, “what is Scottish philosophy?”, and presents a comprehensive work on the history of Scottish philosophy. Broadie successfully elucidates the nature and significance of Scottish philosophy both historically and philosophically. He argues that Scottish philosophy must be studied in its historical context, for it is not only a (...) philosophical enterprise but also a persistent tradition which has united the Scottish nation for centuries. The advancements in science, literature, politics, and culture in Scotland would be extremely unlikely, if not impossible, without such an intellectual culture established by thinkers in that tradition. This article is intended as a review of Broadie’s A History of Scottish Philosophy in the background of his shifting academic interests from philosophy to history while he holds the professorship in University of Glasgow. His commitment to Scottish philosophical culture deserves the attention of contemporary historians and philosophers, for his work opens up a space for dialogue between intellectual history and history of philosophy, an issue addressed at the end of this paper. (shrink)

On conçoit souvent la jalousie comme une émotion ayant pour objet les relations de proximité (amour, amitié, fratrie, etc.). Elle a généralement mauvaise presse et est typiquement envisagée comme une émotion moralement condamnable, voire comme un vice. Or, la jalousie ne porte pas uniquement sur les relations de proximité : elle peut également porter sur divers biens (prestige, richesses, biens matériels, privilèges, etc.). Par ailleurs, certains auteurs soutiennent que des cas de jalousie pourraient être moralement justifiés, voire que la jalousie (...) pourrait être une vertu. La jalousie paraît également jouer un rôle dans l’institution et le maintien d’institutions visant à perpétuer des inégalités entre les individus jaloux de leurs avantages et ceux qu’ils envisagent comme des concurrents cherchant à les déposséder de leurs biens. De fait, la jalousie paraît utile pour la théorie politique de par les liens qu’elle entretient avec la justice distributive. Cet article propose, dans la première section, une discussion portant sur la nature de la jalousie où elle est contrastée avec l’envie et l’indignation. Dans la seconde section, on se demandera si la jalousie est un vice, ou si elle peut être parfois moralement justifiée, ou même être une vertu. La troisième section traitera les rôles joués par la jalousie collective dans la justice distributive et la fondation et le maintien d’institutions sociales visant à protéger les intérêts des jaloux. Pour le faire, le cas de la jalousie économique, telle que David Hume et Adam Smith la concevaient dans les relations commerciales entre États européens au XVIIIème siècle, est considéré. (shrink)

Smith's views on moral luck have attracted little attention in the relevant contemporary literature on this subject.* More surprising, perhaps, the material in the secondary literature directly concerned with Smith's moral philosophy is rather thin on this aspect of his thought. In this paper my particular concern is to provide an interpretation and critical assessment of Smith on moral luck. I begin with a description of the basic features of Smith's position; then I criticize two particularly important claims that are (...) fundamental to his position; and I conclude with an examination of the significance of Smith's discussion in relation to the contemporary debate. * There is some change in this situation since this paper was originally published. (shrink)

In this history of the development of ideas of honor in Western philosophy, Peter Olsthoorn examines what honor is, how its meaning has changed, and whether it can still be of use. Political and moral philosophers from Cicero to John Stuart Mill thought that a sense of honor and concern for our reputation could help us to determine the proper thing to do, and just as important, provide us with the much-needed motive to do it. Today, outside of the military (...) and some other pockets of resistance, the notion of honor has become seriously out of date, while the term itself has almost disappeared from our moral language. Most of us think that people ought to do what is right based on a love for justice rather than from a concern with how we are perceived by others. Wide-ranging and accessible, the book explores the role of honor in not only philosophy but also literature and war to make the case that honor can still play an important role in contemporary life. (shrink)

Why be moral? Why, in the language of Adam Smith, act on what you think is praiseworthy even when it does not get you praise from other people? Because, answers Smith, you love praiseworthiness. But what is this love of praiseworthiness, and where does it come from? In this article, 1) I argue that we start to love praiseworthiness when we redirect our love of praise away from other people toward the ‘impartial spectator’-aspect of ourselves, and 2) show how this (...) fits with evidence that the rudimentary moral compass which guides us early in childhood needs correction through socialisation to develop into a mature moral conscience. (shrink)

I contend that Adam Smith and David Hume offer re-interpretations of Aristotle’s notion of greatness of soul, focusing on the kind of magnanimity Aristotle attributes to Socrates. Someone with Socratic magnanimity is worthy of honor, responds moderately to fortune, and is virtuous—just and benevolent. Recent theorists err in claiming that magnanimity is less important to Hume’s account of human excellence than benevolence. In fact, benevolence is a necessary ingredient for the best sort of greatness. Smith’s “Letter to Strahan” attributes this (...) greatness to Hume. It encourages us to admire Hume as an exemplar of human excellence, to seek Hume’s virtues for ourselves, and to approve of the “love of literary fame” which Hume calls his “ruling passion.”. (shrink)

Examining the moral sense theories of Francis Hutcheson, David Hume, and Adam Smith from the perspective of the is-ought problem, this essay shows that the moral sense or moral sentiments in those theories alone cannot identify appropriate morals. According to one interpretation, Hume's or Smith's theory is just a description of human nature. In this case, it does not answer the question of how we ought to live. According to another interpretation, it has some normative implications. In this case, it (...) draws normative claims from human nature. Anyway, the sentiments of anger, resentment, vengeance, superiority, sympathy, and benevolence show that drawing norms from human nature is sometimes morally problematic. The changeability of the moral sense and moral sentiments in Hume's and Smith's theories supports this idea. Hutcheson's theory is morally more appropriate because it bases morality on disinterested benevolence. Yet disinterested benevolence is not enough for morality. There are no sentiments the presence of which alone makes any action moral. (shrink)

When Adam Smith published his celebrated writings on economics and moral philosophy he famously referred to the operation of an invisible hand. Adam Smith's Political Philosophy makes visible the invisible hand by examining its significance in Smith's political philosophy and relating it to similar concepts used by other philosophers, revealing a distinctive approach to social theory that stresses the significance of the unintended consequences of human action. This book introduces greater conceptual clarity to the discussion of the invisible hand and (...) the related concept of unintended order in the work of Smith and in political theory more generally. By examining the application of spontaneous order ideas in the work of Smith, Hume, Hayek and Popper, Adam Smith's Political Philosophy traces similarities in approach and from these builds a conceptual, composite model of an invisible hand argument. While setting out a clear model of the idea of spontaneous order the book also builds the case for using the idea of spontaneous order as an explanatory social theory, with chapters on its application in the fields of science, moral philosophy, law and government. (shrink)

This paper is a discussion of the ‘moralization’ of resentment in Adam Smith’s Theory of Moral Sentiments. By moralization, I do not refer to the complex process by which resentment is transformed by the machinations of sympathy, but a prior change in how the ‘raw material’ of the emotion itself is presented. In just over fifty pages, not only Smith’s attitude toward the passion of resentment, but also his very conception of the term, appears to shift dramatically. What is an (...) unpleasant, unsocial and relatively amoral passion of anger in general metamorphoses into a morally and psychologically rich account of a cognitively sharpened, normatively laden attitude, an attitude that contains both the judgment that the injury done to me was unjust and wrongful, and the demand that the offender acknowledge its wrongfulness. Two very different readings of ‘Smithean resentment’ are thus available from the text. Indeed, the notion of two distinct forms of resentment – an instinctive, amoral version and a rich, rationally appraising attitude – would bring Smith into line with an earlier account of resentment, found in Bishop Joseph Butler’s Fifteen Sermons Preached at Rolls Chapel, first published in 1726. Ultimately, I argue, the differences in their theories are to Smith’s credit. It is precisely because the ‘thin’ or generic retaliatory passion described in Part I can be reconciled with the rich, normative attitude in Part II, that Smith is able to accomplish his meta-ethical goal of grounding moral judgments in naturally occurring emotions. (shrink)

Until fairly recently it was not uncommon for political theorists to hold the view that people cannot be expected to act in accordance with the public interest without some incentive. Authors such as Marcus Tullius Cicero, John Locke, David Hume and Adam Smith, for instance, held that people often act in accordance with the public interest, but more from a concern for their honour and reputation than from a concern for the greater good. Today, most authors take a more demanding (...) view, maintaining that people are to be just solely from a love for justice, not from a fear of losing face. In this article today's prevailing view, which sees honour as something obsolete and archaic and not as a legitimate motive, is contrasted with the older view that honour is important for both knowing what moral is and acting on it. Subsequently, it is argued that the ethics of honour, especially in the form it took in the works of Hume and Smith, can still be of value, exactly because it is less demanding. (shrink)

Capitalism: The Birth of an Idea. Amongst the Enlightenment’s emancipatory slogans was a call for the liberation of economic energy, a call that was most fully expressed by Adam Smith in Inquiry into the Nature and Causes of the Wealth of Nations. Smith provided a final analysis of the mercantilist system that had been prevailing from the beginning of the sixteenth century. By justifying the superiority of the free market economy models, Smith created the intellectual foundations for the capitalist order. (...) He proposed a model for the production and distribution of goods that was based on two pillars: the right to private property and free market institutions. The vision of capitalism created by Smith was a system of power and freedom: a system of individual sovereignty over the world of objects and a system of the free circulation of goods. The combination of these two principles resulted in a coherent system which, when used in practice, has shown remarkable efficiency. Smith’s work proved to be a reliable way to achieve worldly success, one that has worked wherever it was tried out. Capitalism, and the accompanying moral philosophy, was the most commonly pursued idea of the eighteenth century. (shrink)

I discuss Hume's views about whether simplicity and generality are positive features of explanations. In criticizing Hobbes and others who base their systems of morality on self interest, Hume diagnoses their errors as resulting from a "love of simplicity". These worries about whether simplicity is a positive feature of explanations emerge in Hume's thinking over time. But Hume does not completely reject the idea that it's good to seek simple explanations. What Hume thinks we need is good judgment about when (...) we are going too far in our search for simple explanations. These worries about simplicity are not unique to Hume. We can see versions of them in the work of Hutcheson, Smith, and Reid. (shrink)

By giving sympathy a central role, Adam Smith’s Theory of Moral Sentiments (1759) can be regarded as one of the ‘enlightened’ moral theories of the Enlightenment, insofar as it widened the scope of moral consideration beyond the traditionally restricted boundary of human beings. This, although the author himself does not seem to have been aware of this fact. In this paper, I want to focus on two aspects which I think lead to this conclusion. First, by making sentience the requisite (...) to be taken into moral consideration, nonhuman animals in Smith’s moral theory can count as moral patients towards whom we should exercise the virtue of beneficence (if not justice). Secondly, Smith’s idea of morality as working in concentric circles –generating more stringent duties towards those closer to us– could explain and perhaps also justify our caring for some nonhuman animals, especially pets. (shrink)

This essay shows that a moral sense or moral sentiments alone cannot identify appropriate morals. To this end, the essay analyzes three defenses of Francis Hutcheson's, David Hume's, and Adam Smith's moral sense theories against the relativism charge that a moral sense or moral sentiments vary across people, societies, cultures, or times. The first defense is the claim that there is a universal moral sense or universal moral sentiments. However, even if they exist, a moral sense or moral sentiments alone (...) cannot identify appropriate morals. The second defense is to adopt a general viewpoint theory, which identifies moral principles by taking a general viewpoint. But it needs to employ reason, and even if not, it does not guarantee that we identify appropriate morals. The third defense is to adopt an ideal observer theory, which draws moral principles from sentimental reactions of an ideal observer. Yet it still does not show that a moral sense or moral sentiments alone can identify appropriate morals. (shrink)

This essay first introduces the moral sense theories of Francis Hutcheson, David Hume, and Adam Smith, and clarifies important differences between them. It then examines whether moral judgment based on the moral sense or moral sentiments varies according to one's metaphysical beliefs. For this, the essay mainly applies those theories to such issues as stem cell research, abortion, and active euthanasia. In all three theories, false religious beliefs can distort moral judgment. In Hutcheson's theory, answers to stem cell research, abortion, (...) and active euthanasia do not change according to the spectator's metaphysical beliefs. Yet answers to those issues can change according to the agent's metaphysical beliefs. Hume's theory cannot provide answers to stem cell research and abortion where the embryo or fetus is the receiver (the one affected by the agent's action) and to active euthanasia where the patient is unconscious. It may provide answers to abortion where the pregnant woman is the receiver and to active euthanasia where the patient is conscious. Yet the answers can vary depending on the woman's or the patient's metaphysical beliefs. Smith's theory can provide answers to stem cell research, abortion, and active euthanasia. But the answers can vary depending on the agent's metaphysical beliefs. These show that the moral sense or moral sentiments in those theories alone cannot identify appropriate morals. (shrink)