It has been commonplace to equate Foucault’s 1979 series of lectures at the Collège de France with the claim that for neoliberalism, unlike for classical liberalism, the market needs to be artificially constructed. The article expands this claim to its full expression, taking it beyond what otherwise would be a simple divulgation of a basic neoliberal tenet. It zeroes in on Foucault’s own insight: that neoliberal constructivism is not directed at the market as such, but, in principle, at society, arguing (...) that the value of this insight goes beyond the critique of a neoliberal present. The neoliberal rationale rather helps him to reveal a unique historical architecture, a latent approach to the social dissimilar to the one that has long predominated in the human sciences. The inversion of homo œconomicus in neoliberal theory amounted to the unearthing of a ‘social subject of interest’ within civil society. Such a subject, barely recognized by neoliberals who simply instrumentalize it for the sake of the market, demonstrates that the social is not necessarily the natural product of ethical subjects; that society may also need to be constructed. (shrink)

This essay draws on Adam Smith’s moral sentimentalism to critique primatologist Frans de Waal’s gradualist theory of human morality. De Waal has spent his career arguing for continuity between primate behavior and human morality, proposing that empathy is a primary moral building block evident in primate behavior. Smith’s moral sentimentalism—with its emphasis on the role of sympathy in moral virtue—provides the philosophical framework for de Waal’s understanding of morality. Smith’s notion of sympathy and the imagination involved in sympathy is qualitatively (...) different from animal sympathy. I argue that Smithian sympathy includes the ability to represent propositional attitudes and take into account multiple perspectives which are then synthesized into a singular impartial perspective. Furthermore, Smithian moral judgment requires the capacity for emotion regulation and moral self-cultivation, or the ability to shape and control one’s reactive attitudes. Taken together, these capacities far outstrip the capacities of animals, disrupting de Waal’s gradualism. (shrink)

Adam Smith argued that the ideal moral judge is both well-informed and impartial. As non-ideal moral agents, we tend only to be truly well-informed about those with whom we frequently interact. These are also those with whom we tend to have the closest affective bonds. Hence, those who are well-informed, like our friends, tend to make for partial judges, while those who are impartial, like strangers, tend to make for ill-informed ones. Combining these two traits in one person seems far (...) from straightforward. Still, if becoming well-informed is, as Smith also claims, a matter of imaginative perspective-taking with the “person principally concerned”, it might be possible to become well-informed without the emotional entanglement that comes from any actual proximity to those we judge. Against this intuition, I use Construal Level Theory to show that the tension between being well-informed and impartial is likely to persist even if we take any actual proximity out of the equation. I end by discussing some implications of this, and suggest that we should consider revising the ideal to accommodate them. (shrink)

RESUMEN: En su Teoría de los Sentimientos Morales Adam Smith propone una ética que concilia dos paradigmas habitualmente considerados como incompatibles: una ética de virtudes, con normas orientativas e ideales de excelencia, y una ética con reglas universales que se aplican en todos los casos sin excepción. Smith lo hace cambiando el punto de vista desde el que se realiza el juicio moral, a una perspectiva que llamaré "simpatético-imparcial", y que corresponde a "los sentimientos simpatéticos de un espectador imparcial y (...) bien informado". Este novedoso punto de vista le permite introducir características modernas a la ética clásica de la virtud para dar una nueva justificación a las virtudes positivas, así como cambiar el modo de entender las "reglas o principios universales". De este modo, Smith construye una ética capaz de dar cuenta, dentro del mismo marco teórico, tanto de los ideales de excelencia propios de la virtud, como de los imperativos universales modernos. ABSTRACT: In his Theory of Moral Sentiments, Adam Smith reconciles two moral paradigms that are usually considered incompatible: an ethics of virtue, with general guidelines and ideals of excellence, and an ethics with universal rules, which must be applied to all cases without exceptions. Smith makes this possible by shifting the perspective from which moral judgments are assessed to what I call the 'sympathetic-impartial' perspective, which stands for "the sympathetic feelings of an impartial and well-informed spectator". From this new standpoint, Smith is able to introduce some modern features into classic virtue ethics and provide a different justification for positive virtues, as well as to change the way 'universal norms or principles' are understood. Accordingly, Smith's theory accounts simultaneously, and within the same theoretical framework, for both ancient-like virtues and their ideals of excellence and for modern-like universal imperatives. (shrink)

In this paper we reconsider Adam Smith’s ethics, what he means by self-interest and the role this plays in the famous “invisible hand.” Our efforts focus in part on the misreading of “the invisible hand” by certain economists with a view to legitimizing their neoclassical economic paradigm. Through exegesis and by reference to notions that are developed in Smith’s two major works, we deconstruct Smith’s ideas of conscience, justice, self-interest, and the invisible hand. We amplify Smith’s insistence, through his notions (...) of the virtues, that as human beings, and by analogy, organizations, we are intrinsically social, rather than selfish and or egoistically self-centered. Thus, we have responsibilities to and because of others. We conclude that such a managerialist preoccupation with shareholder value is challenged, if not completely refuted, by taking seriously the social character of Smith’s complex vision of commerce. (shrink)

ABSTRACTCommerce changes the production of wealth in a society as well as its ethics. What is appropriate in a non-commercial society is not necessarily appropriate in a commercial one. Adam Smith criticizes Stoic self-command in commercial societies, rather than embracing it, as is often suggested. He argues that Stoicism, with its promotion of indifference to passions, is an ethic appropriate for savages. Savages live in hard conditions where expressing emotions is detrimental and reprehensible. In contrast, the ease of life brought (...) about by commerce fosters the appropriate expressions and sharing of emotions. Imposing Stoicism on a commercial society is therefore imposing an ethic for savages onto a refined society – something to abhor. Smith’s rejection of Stoicism in commercial societies can thus be seen as a defence of commerce. (shrink)

In The Theory of Moral Sentiments, Adam Smith recognizes that in certain occasions even the most impartial of all spectators experience an ‘irregularity of sentiment’ in judging the moral value of an action. An example of this irregularity can be found in cases where, under the influence of fortune, the consequence of the action does not follow directly from the design of the agent. Within this article, the problem presented will be addressed in order to seek the grounds for the (...) validity of the following thesis: the recognition of the natural equality of all moral agents is the objective basis in which all moral judgment must be grounded. Having indicated this, an important question arises: Why does the innocent, who is not unjust but who is the material cause of the factual injury of another, feels a kind of remorse facing the act and somehow feels “guilty”? (shrink)

Other-perspective taking, distancing, time discounting as well as risk and loss aversion highly affect decision-making. Even though they influence each other, so far these cognitive processes have been unrelated or only partly related to each other in neuroscience. This article proposes a philosophical interpretation of these cognitive processes that is elaborated in the updated theory of Adam Smith’s prudence. The UTSP is inspired by Smith’s account of prudence and is in line with the neuroscientific and behavioral studies on OPT, distancing, (...) time discounting as well as risk and loss aversion. The UTSP represents a framework aiming to interpret and connect these cognitive processes and providing a consistent and empirically sound account of a “Smithianly” prudent style of decision-making. The two pillars of the UTSP are the shift of perspective in space and time and loss aversion. On the basis of this theory, a normative updated theory of Smithian prudence is outlined. The latter is useful for moral philosophy for two reasons: firstly, according to preliminary evidence, it is effective in guiding the agent in decisional contexts in which her well-being is at stake and she can affect other people with her actions. Secondly, since the NUTSP is based on neuroscientific findings on decision-making, it has a sound empirical basis that prevents a source of alienation for the agent. (shrink)

Can a set of musical metaphors in a treatise on ethics reveal something about the nature and source of moral autonomy? This article argues that it can. It shows how metaphorical usage of words like tone, pitch, and concord in Adam Smith's Theory of Moral Sentiments can be understood as elements of an analogical model for morality. What this model tells us about morality depends on how we conceptualise music. In contrast to earlier interpretations of Smith's metaphors that have seen (...) music as an aesthetic object, this article sees music as a practice. Understood in this way, the analogy allows us to see morality too as a practice––as moral tuning. This in turn reveals a novel answer to the intractable problem of conventionalism: moral autonomy consists in the freedom inherent in the constant need to interpret and reinterpret the strictly formal ideal of perfect propriety. (shrink)

Which individuals should count in a welfare-consequentialist analysis of public policy? Some answers to this question are parochial, and others are more inclusive. The most inclusive possible answer is ‘everybody to count for one.’ In other words, all individuals who are capable of having welfare – including foreigners, the unborn, and non-human animals – should be weighed equally. This article argues that ‘who should count’ is a question that requires a two-level answer. On the first level, a specification of welfare-consequentialism (...) serves as an ethical ideal, a claim about the attributes that the ideal policy would have. ‘Everybody to count for one’ might succeed on this level. However, on the second level is the welfare-consequentialist analysis procedure used by human analysts to give advice on real policy questions. For epistemic reasons, the analysis procedure should be more parochial than ‘everybody to count for one.’. (shrink)

There is long-standing disagreement about how radical Adam Smith should be taken to be. Recently, Jonathan Israel’s work on the enlightenment situates Smith as a moderate enlightenment thinker. This article challenges that assessment. Smith sees aristocrats as largely devoid of competence, wisdom, and virtue and thinks they do not wield significant political power in commercial societies. He is also highly critical of their economic power; and uses a neo-Roman concept of liberty to provide a powerful critique of slavery and feudalism. (...) In so doing, he extends discussions of liberty and focuses them on economic relations in ways that prefigure labour republicanism. Finally, I show how these more radical commitments can be reconciled with his moderate proposals for political reform through his epistemology and realist anti-utopianism. These are aspects of Smith’s thought that are essential for understanding it correctly and have much to teach us today. (shrink)

The category of sympathy marks a number of basic divisions in early modern approaches to action explanations, whether for human agency or for change in the wider natural world. Some authors were critical of using sympathy to explain change. They call such principles “unintelligible” or assume they involve “mysterious” action at a distance. Others, including Margaret Cavendish, Anne Conway, and Gottfried Wilhelm Leibniz, appeal to sympathy to capture natural phenomena, or to supply a backbone to their metaphysics. Here I discuss (...) how concerns about sympathetic actions form at least a partial background for differing seventeenth-century conceptions of what it is to explain action. I argue that critics of sympathy generally insist on an “atomistic” approach to action explanation, which makes primitively relational phenomena come out as problematic. Proponents of sympathy, by contrast, allow for a more holistic approach to action explanation, which allows for such basic connections. Hence, divergent attitudes toward sympathetic action in part explain differences in approaches to explanation. I conclude by showing how some of these core concerns fade into the background when in the eighteenth-century sympathy gets psychologised and individualised. (shrink)

This article examines Henri Bergson’s conception of human rights in The Two Sources of Morality and Religion. I claim that he provides an original view of human rights. Rather than understand human rights primarily as an institution to protect all human beings from serious social, legal, and political abuse, Bergson conceives of them as a medium of personal transformation. In particular, I argue that for him the true potential of human rights is to initiate all human beings into a way (...) of life open to love and joy. (shrink)

Adam Smith’s is often falsely portrayed as having argued that radical selfishness is a force for the good and that this “invisible hand’ is his market mechanism. This paper argues that Smith’s real market mechanism, the sympathy manoeuvre, is a viable alternative to Schumpeterian and mainstream models of innovation in economics and also could help build a firmer theoretical basis for other approaches such as Responsible Innovation. To Smith all human activity was social and must be understood and explained in (...) terms of the sentiments involved. Discovery, for instance, is driven by three sentiments (wonder, surprise, admiration), economic activities by sympathetic imagination, the need for exchange, the need to better one’s position in life, and the need for gratitude. Through sympathetic imagination, his famous model of the impartial spectator, Smith elegantly connects the individual and society. Smith’s innovation process is thus an exercise in social construction and not a destructive process based on radical selfishness. The paper argues that this social innovation process is a viable alternative to the extant approaches that are essentially asocial and amoral (economism) or ideologically normative (Responsible Innovation). (shrink)

The paper takes a fresh look at two essays that Adam Smith wrote at the very beginning of his career. In these essays, Smith explains his philosophy of science, which is social constructivist. A social constructivist reading of Smith strengthens the scholarly consensus that The Wealth of Nations needs to be interpreted in light of the general moral theory he explicates in The Theory of Moral Sentiments, as the two essays and TMS stress the importance of the same concepts: e.g., (...) moral imagination, the socially embedded individual, and humility. The connecting tissue between all three works is made up of sentiments and values. Smith regards the socially embedded human as the agent in all three realms, and humans are always driven by values. Smith not only conceives of economics as an applied moral philosophy, but also bases both research areas on a view of knowledge creation that stresses specific epistemic values. If mainstream economic theory wants to have any claim to Adam Smith, it would have to change not only what it argues but also how it argues. Economists would have to replace the language of mathematics with the language and logic of moral philosophy and give values centre stage. (shrink)

Motivation crowding out can lead to a reduction of ‘higher’ virtues, such as altruism or public spirit, in market contexts. This article discusses the role of virtue in the moral and economic theory of Adam Smith. It argues that because Smith’s account of commercial society is based on ‘lower’ virtue, ‘higher’ virtue has a precarious place in it; this phenomenon is structurally similar to motivation crowding out. The article analyzes and systematizes the ways in which Smith builds on ‘contrivances of (...) nature’ in order to solve the problems of limited self-command and limited knowledge. As recent research has shown, a clear separation of different social spheres can help to reduce the risk of motivation crowding out and preserve a place for ‘higher virtue’ in commercial society. The conclusion reflects on the performative power of economics, arguing that the one-sided focus on models of ‘economic man’ should be embedded in a larger context. (shrink)

ABSTRACTIn this article, I explore the complex and unappreciated relationship between the moral and political thought of Cicero and Adam Smith. Cicero’s views about justice, propriety, and the selfish love of praise find new expression in Smith’s Theory of Moral Sentiments. I illustrate the important ways in which Smith adopts – often without attribution – Cicero’s precepts and moral judgments. I then go on to demonstrate how Smith strips those Ciceronian conclusions from their original justifying grounds in teleology and natural (...) law. In their place, Smith injects his own psychology based in sentiments as a new account of why it is that we prefer virtue and justice to their opposites. By exploring this relationship, I hope to shed light on an important dynamic whereby modern thought has creatively adapted classical moral and political concepts. (shrink)

Among business ethicists, Adam Smith is widely viewed as the defender of an amoral if not anti-moral economics in which individuals’ pursuit of their private self-interest is converted by an ‘invisible hand’ into shared economic prosperity. This is often justified by reference to a select few quotations from The Wealth of Nations. We use new empirical methods to investigate what Smith actually had to say, firstly about the relationship between free market institutions and individuals’ moral virtues, and secondly about the (...) further relationship between virtues and societal flourishing. We show with more quantitative precision than traditional scholarship that the invisible hand reading dramatically misrepresents both the nuance and the sum of Smith’s analysis. Smith paid a great deal of attention to a flourishing society’s dependence on virtues, including the non-self-regarding virtues of justice and benevolence, and he worried also about their fragility in the face of the changed incentives and social conditions of commercial society. (shrink)

Philosophy was at the core of the eighteenth century movement known as the Scottish Enlightenment. The movement included major figures, such as Francis Hutcheson, David Hume, Adam Smith, Thomas Reid and Adam Ferguson, and also many others who produced notable works, such as Gershom Carmichael, George Turnbull, George Campbell, James Beattie, Alexander Gerard, Henry Home (Lord Kames) and Dugald Stewart. I discuss some of the leading ideas of these thinkers, though paying less attention than I otherwise would to Hume, Smith (...) and Reid, who have separate Encyclopedia entries. Amongst the topics covered in this entry are aesthetics (particularly Hutcheson's), Moral philosophy (particularly Hutcheson's and Smith's), Turnbull's providential naturalism, Kames's doctrines on divine goodness and human freedom, Campbell's criticism of the Humean account of miracles, the philosophy of rhetoric, Ferguson's criticism of the idea of a state of nature, and finally the concept of conjectural history, a concept especially associated with Dugald Stewart. (shrink)

Gender greatly impacts access to opportunities, potential, and success in corporate leadership roles. We begin with a general presentation of why such discussion is necessary for basic considerations of justice and fairness in gender equality and how the issues we raise must impact any ethical perspective on gender in the corporate workplace. We continue with a breakdown of the central categories affecting the success of women in corporate leadership roles. The first of these includes gender-influenced behavioral factors, such as the (...) requirements and expectations of gendered verbal and nonverbal communication styles as well as appearance. We move on to address the impact of family on corporate leadership opportunities and success, discussing the asymmetrical evaluation of an individual’s potential, authority, and competence based on gender stereotypes of familial obligations and expectations. Finally, we address how gender impacts access to networking and sponsorship opportunities and the long-term effects of systematic limitations on women’s inclusion in the upper echelons of corporate leadership. We conclude with a summary of the questions and issues raised by our discussion and direct individuals to consider how different ethical systems and moral requirements might influence their interpretations of gender and leadership in the corporate workplace. (shrink)