This paper aims to evince the need to interpret Adam Smith’s work from rhetorical theory. More specifically, to interpret The Wealth of Nations from deliberative rhetoric. To do this, it studies the origin of his theory of language, identifying and analyzing its sources from the catalog of his personal library, evincing that Smith didn’t deem language as an epistemic resource but as a collective means to build social reality through deliberation. This leads to the definition of The Wealth of nations (...) as a text more rhetorically deliberative than scientifically Newtonian. The main conclusion revises the interpretation of Smith as only an apologist for the free market, proposing instead that his great work was constructed as a harmonious dialogue of multiples voices and views. From this derives, as second conclusion, the need to redefine the epistemological status of economic theory, that must be integrated as one more voice in the ever-recurring debate around the social construction of reality. (shrink)

Recent studies have investigated connections between Adam Smith’s economic and philosophical ideas and Catholic Social Teaching (CST). Scholars argue that their common background lies in their respective anthropologies, both endorsing a relational view of human beings. I raise one main concern regarding these analyses. I suggest that the relationality endorsed by Smith lacks a central element present in CST—the other-oriented perspective which is the intentional concern for promoting the good of others. Some key elements of CST, such as love, gift, (...) gratuitousness, and fraternity, find a very different space in Smith’s social view and very little space in his economic view. Moreover, I show how CST relationality is more in accordance with a civil economy view of the market as a place of fraternity and mutual assistance. (shrink)

In both the public and the business world, in academe as well as in practice, the ideas of Adam Smith are regarded as the bedrock of modern economics. When present economic conditions and management practices are criticised, Adam Smith is referred to by defenders and detractors of the current status quo alike. Smith, it is believed, defined the essential terms of reference of these debates, such as the rational pursuit of self-interest on part of the individual and the resultant optimal (...) allocation of goods in free markets thanks to the workings of an “invisible hand.” In this article, we question whether this standard view of Smith, the economist, is tenable. We provide an extensive review of the extant secondary literature from economists, business ethicists, and philosophers, comparing their assessments to crucial elements of Smith’s theoretical system. As a result, we show that Smith, far from being an advocate of a value-free or even value-averse conception of economic transactions, stood for a virtue-based and values-oriented model of business. Accordingly, we argue current management education and the pedagogy of business ethics ought to be changed, and certain strategic conclusions drawn for business practice. (shrink)

Resumen Se discute el principio de simpatía que Smith desarrolla en la primera edición de La teoría de los sentimientos morales, enfatizando en qué sentido lo considera insuficiente para lograr cohesión en la sociedad comercial. Se argumenta que Smith concibe a La riqueza de las naciones como parte de su misión por desarrollar una teoría de la jurisprudencia, y que en dicha obra enfatiza los peligros que se engendran en la sociedad comercial y las consecuentes dificultades para que esta logre (...) ser una sociedad civilizada. Se arguye que tales peligros y dificultades conducen a Smith a trabajar en el campo de la ética de la virtud, incorporando la Parte VI de la última edición de la TSM.The sympathy principle that Smith develops in the first edition of The Theory of Moral Sentiments is discussed, emphasizing in the sense he considers it insufficient to achieve cohesion in commercial society. It is argued that Smith conceives of The Wealth of Nations as part of his mission to develop the theory of jurisprudence, and that in this work he emphasizes the dangers that are engendered in commercial society and the consequent difficulties for it to become a civilized society. It is argued that such dangers and difficulties lead Smith to work in the field of virtue ethics, incorporating Part VI of the latest edition of the TSM. (shrink)