For a century and a half, the artists and intellectuals of Europe have scorned the bourgeoisie. And for a millennium and a half, the philosophers and theologians of Europe have scorned the marketplace. The bourgeois life, capitalism, Mencken’s “booboisie” and David Brooks’s “bobos”—all have been, and still are, framed as being responsible for everything from financial to moral poverty, world wars, and spiritual desuetude. Countering these centuries of assumptions and unexamined thinking is Deirdre McCloskey’s _The Bourgeois Virtues_, a magnum opus (...) that offers a radical view: capitalism is good for us. McCloskey’s sweeping, charming, and even humorous survey of ethical thought and economic realities—from Plato to Barbara Ehrenreich—overturns every assumption we have about being bourgeois. Can you be virtuous and bourgeois? Do markets improve ethics? Has capitalism made us better as well as richer? Yes, yes, and yes, argues McCloskey, who takes on centuries of capitalism’s critics with her erudition and sheer scope of knowledge. Applying a new tradition of “virtue ethics” to our lives in modern economies, she affirms American capitalism without ignoring its faults and celebrates the bourgeois lives we actually live, without supposing that they must be lives without ethical foundations. _High Noon_, Kant, Bill Murray, the modern novel, van Gogh, and of course economics and the economy all come into play in a book that can only be described as a monumental project and a life’s work. _The Bourgeois Virtues _is nothing less than a dazzling reinterpretation of Western intellectual history, a dead-serious reply to the critics of capitalism—and a surprising page-turner. (shrink)

A dramatic shift in British and French ideas about empire unfolded in the sixty years straddling the turn of the nineteenth century. As Jennifer Pitts shows in A Turn to Empire, Adam Smith, Edmund Burke, and Jeremy Bentham were among many at the start of this period to criticize European empires as unjust as well as politically and economically disastrous for the conquering nations. By the mid-nineteenth century, however, the most prominent British and French liberal thinkers, including John Stuart Mill (...) and Alexis de Tocqueville, vigorously supported the conquest of non-European peoples. Pitts explains that this reflected a rise in civilizational self-confidence, as theories of human progress became more triumphalist, less nuanced, and less tolerant of cultural difference. At the same time, imperial expansion abroad came to be seen as a political project that might assist the emergence of stable liberal democracies within Europe. Pitts shows that liberal thinkers usually celebrated for respecting not only human equality and liberty but also pluralism supported an inegalitarian and decidedly nonhumanitarian international politics. Yet such moments represent not a necessary feature of liberal thought but a striking departure from views shared by precisely those late-eighteenth-century thinkers whom Mill and Tocqueville saw as their forebears. Fluently written, A Turn to Empire offers a novel assessment of modern political thought and international justice, and an illuminating perspective on continuing debates over empire, intervention, and liberal political commitments. (shrink)

This 2010 text pursues Adam Smith's views on moral judgement, humanitarian care, commerce, justice and international law both in historical context and through a twenty-first-century cosmopolitan lens, making this a major contribution not only to Smith studies but also to the history of cosmopolitan thought and to contemporary cosmopolitan discourse itself. Forman-Barzilai breaks ground, demonstrating the spatial texture of Smith's moral psychology and the ways he believed that physical, affective and cultural distance constrain the identities, connections and ethical obligations of (...) modern commercial people. Forman-Barzilai emphasizes his resistance to the sort of relativism, moral insularity and cultural chauvinism that too often accompany localist critiques of cosmopolitan thought today. This is a fascinating, revisionist study that integrates the perspectives of intellectual history, moral philosophy, political theory, cultural theory, international relations theory and political economy, and will appeal across the humanities and social sciences. (shrink)

Adam Smith was a philosopher before he ever wrote about economics, yet until now there has never been a philosophical commentary on the Wealth of Nations . Samuel Fleischacker suggests that Smith's vastly influential treatise on economics can be better understood if placed in the light of his epistemology, philosophy of science, and moral theory. He lays out the relevance of these aspects of Smith's thought to specific themes in the Wealth of Nations , arguing, among other things, that Smith (...) regards social science as an extension of common sense rather than as a discipline to be approached mathematically, that he has moral as well as pragmatic reasons for approving of capitalism, and that he has an unusually strong belief in human equality that leads him to anticipate, if not quite endorse, the modern doctrine of distributive justice. Fleischacker also places Smith's views in relation to the work of his contemporaries, especially his teacher Francis Hutcheson and friend David Hume, and draws out consequences of Smith's thought for present-day political and philosophical debates. The Companion is divided into five general sections, which can be read independently of one another. It contains an index that points to commentary on specific passages in Wealth of Nations . Written in an approachable style befitting Smith's own clear yet finely honed rhetoric, it is intended for professional philosophers and political economists as well as those coming to Smith for the first time. (shrink)

This book develops the existing analyses of the founder of free market economics, and gives it a radical new extension by taking into account recent debates in literary theory.

The Scottish Enlightenment shaped a new conception of history as a gradual and universal progress from savagery to civil society. Whereas women emancipated themselves from the yoke of male-masters, men in turn acquired polite manners and became civilized. Such a conception, however, presents problematic questions: why were the Americans still savage? Why was it that the Europeans only had completed all the stages of the historic process? Could modern societies escape the destiny of earlier empires and avoid decadence? Was there (...) a limit beyond which women's influence might result in dehumanization? The Scottish Enlightenment's legacy for modernity emerges here as a two-faced Janus, an unresolved tension between universalism and hierarchy, progress and the limits of progress. (shrink)

This book defines the relationship between the thought of Adam Smith and that of the ancients---Plato, Aristotle, Cicero, and the Stoics. Vivenza offers a complete survey of all Smith's writings with the aim of illustrating how classical arguments shaped opinions and scholarship in the eighteenth century.

The Introduction sets the contributions to this special issue in the context of existing scholarship on Dugald Stewart. The main points are the great advance in our understanding of Stewart's intellectual development, his complicated relationship to his predecessors and contemporaries in Scottish philosophy, and his important role in the European republic of letters.

This study analyses the influence that Adam Smith's philosophy had on his Wealth of Nations, and reveals the unity in Smith's extensive system of morals, politics, and economics. It concludes that Smith was motivated by a political ideal, which was moral liberalism.

Counter to the popular impression that Adam Smith was a champion of selfishness and greed, Jerry Muller shows that the Inquiry into the Nature and Causes of the Wealth of Nations maintained that markets served to promote the well-being of ...

Self-Interest before Adam Smith inquires into the foundations of economic theory. It is generally assumed that the birth of modern economic science, marked by the publication of The Wealth of Nations in 1776, was the triumph of the 'selfish hypothesis'. Yet, as a neo-Epicurean idea, this hypothesis had been a matter of controversy for over a century and Smith opposed it from a neo-Stoic point of view. But how can the Epicurean principles of orthodox economic theory be reconciled with the (...) Stoic principles of Adam Smith's philosophy? Pierre Force shows how Smith's theory refutes the 'selfish hypothesis' and integrates it at the same time. He also explains how Smith appropriated Rousseau's 'republican' critique of modern commercial society, and makes the case that the autonomy of economic science is an unintended consequence of Smith's 'republican' principles. (shrink)

ABSTRACTIf war is an inevitable condition of human nature, as David Hume suggests, then what type of societies can best protect us from defeat and conquest? For David Hume, commerce decreases the relative cost of war and promotes technological military advances as well as martial spirit. Commerce therefore makes a country militarily stronger and better equipped to protect itself against attacks than any other kind of society. Hume does not assume commerce would yield a peaceful world nor that commercial societies (...) would be militarily weak, as many contemporary scholars have argued. On the contrary, for him, military might is a beneficial consequence of commerce. (shrink)

IN THE LAST PART of the Theory of Moral Sentiments, Adam Smith puts his theory in a class with those of his contemporaries Francis Hutcheson and David Hume, namely, the systems that make sentiments the principle of approbation. Despite recognizing important differences with both of them, he thinks that since he has placed the origin of moral sentiments in sympathy, and in particular the fact that we are able to enter into the motives of the agent and get pleasure from (...) finding them appropriate to their cause, sentiments are the foundation of his theory of morals. Many of Smith’s commentators, in fact almost all of the most important studies over the last few years, reaffirm the author’s self-description. However, my aim in this paper is to challenge this view by showing that Smith’s system can also be plausibly seen as a theory of practical reasoning, and in some important aspects very similar to Aristotelian ethics. Surprisingly few scholars have seen this parallel. Laurence Berns, Samuel Fleischacker, Charles Griswold, and Gloria Vivenza are the latest exceptions, identifying several points of coincidence between Adam Smith and Aristotle’s ethics. None of them, however, has tied all these similarities under a unified interpretation, such as the one I propose here: The basic analogy between these theories, and the source of those particular coincidences, is the operation of practical reason. Moreover, and besides the common elements with Aristotle’s ethics, Smith’s reconstruction of practical reason simultaneously announces some of the main features of modern accounts of ethics, such as impartiality and universality as preconditions of moral judgment. The integration of these ancient and modern elements in a single coherent theory allows Smith’s TMS to overcome the insufficiencies and paradoxes of both these traditions, and it constitutes one of the most interesting and challenging proposals of modern ethics. (shrink)

As late twentieth-century discourses of modernity and postmodernity invoke their Enlightenment heritage in a search for the origins of their present achievements and predicaments, Adam Smith's works are still seen as a canonic representative of that heritage. Smith has long been evoked as the ‘father’ of economics and the original proponent of laissez-faire capitalism, but the political changes in recent decades have reconstituted his iconic status. With the full range of Smith's published and unpublished writings and lectures now widely available, (...) there has been a huge growth in the scholarly literature on Smith which has subjected this traditional view to searching questions. The overwhelming conclusion to emerge is that Smith's works display a subtlety and complexity that is at odds with the received image of Smith as the spokesman of modernity, but the diversity of interpretation raises some difficult methodological issues. (shrink)

This article explores the influence of Stoicism and religion on Adam Smith. While other commentators have argued either that the main influence on Smith was Stoicism or that it was religion, the two influences have not been explicitly linked. In this article I attempt to make such a link, arguing that Smith can be seen as belonging to the strand of Christian Stoicism chiefly associated with his teacher, Francis Hutcheson. Finally, some comments are made about the implications of this interpretation (...) for current understanding of the work of Adam Smith. (shrink)

In The Theory of Moral Sentiments (TMS) Adam Smith draws on the Stoic idea of a Providence that uses everything for the good of the whole. The process is often painful, so the Stoic ethic insisted on conscious cooperation. Stoic ideas contributed to the rise of science and enjoyed wide popularity in Smith's England. Smith was more influenced by the Stoicism of his professors than by the Epicureanism of Hume. In TMS, Marcus Aurelius's "helmsman" becomes the "impartial spectator," who judges (...) actions in terms of the way they are seen by others. This is the key to justice, without which society collapses. Business school students should be taught that Smith's "invisible hand" is best understood as a universal rationality that uses just actions for the benefit of the whole. (shrink)

Without questioning Hutcheson's general affinities with the Stoics, this article focuses on two important differences in moral psychology that show the limits of the appropriation of Stoicism in Hutcheson's ethics of benevolence. First, Hutcheson's distinction between calm affections and violent passions does not fully match with the Stoic distinction between constantiæ and perturbationes, since the emotion of sorrow remains in Hutcheson's table of the calm affections. As far as sorrow as a public affection is concerned, this first point is tied (...) to a second point, which Hutcheson highlights himself: His conception of virtue as benevolence and the general importance of the public affections seem to be in conflict with a Stoic conception of virtue as an internal good, since the happiness of others, which is the object of both Hutchesonian benevolence and the public sense, is external for the Stoics. (shrink)

Recent studies on crying show that crying is more common in happier, freer, and richer countries than in poorer and less free countries. These results can sound counterintuitive and contradict the hypothesis that crying is more observable in countries where people experience more distress. Adam Smith may offer an explanation: In the severe hardship of poverty, showing emotion and distress can be read as a sign of weakness, attracting no sympathy and compromising survival. As a result, emotional displays are avoided. (...) Instead, wealthier commercial societies offer ease and tranquility which allows individuals to express their emotions with fewer negative consequences. (shrink)

Adam Smith's ethics have long been thought to be much closer to the Stoic school than to any other school of the ancient world. Recent scholarship however has focused on the fact that Smith also appears to be quite close to Aristotle. I shall attend to Smith's deployment of a version of the doctrine of the mean, shall show that it is quite close to Aristotle's, shall demonstrate that in its detailed application it is seriously at odds with Stoic teaching (...) on the passions, and particularly with their teachings on anger, and shall conclude that on a central issue of ethics Smith is a good deal closer to Aristotelian than to Stoic thinking. (shrink)

The method of analysis Adam Smith uses is relatively similar to the method economics generally uses today, especially the subfield of experimental economics. The method of analysis that Smith uses is coherent and consistent throughout his whole work. He searches for constant variables and then sees what variables are changed by exogenous changes. In particular, Smith looks for the constancy in human nature, and analyzes how historical and material circumstances change the incentives that the constant human nature faces. This method, (...) applied to human conduct in all its aspects, makes it easy for many economists today to see some continuity between Smith’s political economy and today’s economic science. (shrink)

Charles Griswold has written a comprehensive philosophical study of Smith's moral and political thought. Griswold sets Smith's work in the context of the Enlightenment and relates it to current discussions in moral and political philosophy. Smith's appropriation as well as criticism of ancient philosophy, and his carefully balanced defence of a liberal and humane moral and political outlook, are also explored. This 1999 book is a major philosophical and historical reassessment of a key figure in the Enlightenment that will be (...) of particular interest to philosophers and political and legal theorists, as well as historians of ideas, rhetoric, and political economy. (shrink)