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This book-length chapter draws technical and philosophical connections between utility theory and social ethics. After the introductory section 1, section 2 proposes some philosophical and historical clarifications on the utility concept.; this includes a discussion of welfare and welfarism. Section 3 is brief summary of technical aspects of utility theory. Section 4 introduces the aggregative setting of social choice theory when interpersonal comparisons of utility are allowed, and using this setting, contrasts the derivation of utilitarianism with that of the Rawlsian (...) |
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In his Comment ‘Adam Smith on the Morality of the Pursuit of Fortune’, Richard Arlen Kleer accepts much of the argument in my article ‘Signifying Voices’ but insists that I have ‘gone too far’. Kleer agrees that there is a moral hierarchy in Adam Smith's Theory of Moral Sentiments where benevolence and self-command are ranked higher than justice and prudence, but he is uneasy with the conclusion that economic activity and the pursuit of gain are ‘amoral’ activities and insists that (...) |
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This major contribution to the history of philosophy provides the most comprehensive guide to modern natural law theory available, sets out the full background to liberal ideas of rights and contractarianism, and offers an extensive study of the Scottish Enlightenment. The time span covered is considerable: from the natural law theories of Grotius and Suarez in the early seventeenth century to the American Revolution and the beginnings of utilitarianism. After a detailed survey of modern natural law theory, the book focuses (...) |
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In Smith’s view, the dédoublement that structures any act of sympathy is internalized and doubled within the self. In endeavoring to “pass sentence” upon one’s own conduct, Smith writes, “I divide myself, as it were, into two persons; and … I, the examiner and judge, represent a different character from that other I, the person whose conduct is examined into and judged of” . Earlier in his book, Smith claims that in imagining someone else’s sentiments, we “imagine ourselves acting the (...) |
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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. |
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Despite the near universal desire for happiness, relatively little philosophy has been done to determine what “happiness” means. In this paper I examine happiness (in the long‐term sense), and argue that it is best understood in terms of tranquillity. This is not merely “contentment.” Rather, happiness requires reflection—the kind of reflection characteristic of philosophy. Happiness is the product of correctly assessing its conditions, and like any assessment, one can be mistaken, and thus mistaken about whether one is happy. That is, (...) |
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The Machiavellian Moment is a classic study of the consequences for modern historical and social consciousness of the ideal of the classical republic revived by Machiavelli and other thinkers of Renaissance Italy. J.G.A. Pocock suggests that Machiavelli's prime emphasis was on the moment in which the republic confronts the problem of its own instability in time, and which he calls the "Machiavellian moment." After examining this problem in the thought of Machiavelli, Guicciardini, and Giannotti, Pocock turns to the revival of (...) |
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For most of the two hundred years or so that have passed since the publication of the Wealth of Nations, Adam Smith's writings on political and economic questions have been viewed within a liberal capitalist perspective of nineteenth- and twentieth- century provenance. This essay in interpretation seeks to provide a more historical reading of certain political themes which recur in Smith's writings by bringing eighteenth-century perspectives to bear on the problem. Contrary to the view that sees Smith's work as marking (...) |
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In spite of the numerous occasions on which Adam Smith expresses his reservations regarding the morality of commercial societies, there seems to be an agreement that he believed such systems to be fundamentally just. To some, this is so because they attribute to Smith a concept of justice which is narrowly confined to the ‘right to have [one's] body free from injury, and [one's] liberty free from infringement’ . In a world where people have an interest in the fortune of (...) |
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"The papers in this volume were presented at a conference on 'The Liberal Tradition' in Sydney in August 1987"--P. x. Includes bibliographies and index. |
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Wealth and Virtue reassesses the remarkable contribution of the Scottish Enlightenment to the formation of modern economics and to theories of capitalism. Its unique range indicates the scope of the Scottish intellectual achievement of the eighteenth century and explores the process by which the boundaries between economic thought, jurisprudence, moral philosophy and theoretical history came to be established. Dealing not only with major figures like Hume and Smith, there are also studies of lesser known thinkers like Andrew Fletcher, Gershom Carmichael, (...) |
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I will argue in what follows that the reading of Smith which attributes to him a theory of the transition from feudalism to capitalism, and the implications which follow from it, are unfounded. There are three key aspects of the interpretation which I will challenge. First, that Smith's account of the destruction of feudal power by the progress of commerce is related to an explanation of the transition to the commercial stage; second, that the decline in baronial power incorporates Smith's (...) |
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Combining the methods of the modern philosopher with those of the historian of ideas, Knud Haakonssen presents an interpretation of the philosophy of law which Adam Smith developed out of - and partly in response to - David Hume's theory of justice. While acknowledging that the influences on Smith were many and various, Dr Haakonssen suggests that the decisive philosophical one was Hume's analysis of justice in A Treatise of Human Nature and the second Enquiry. He therefore begins with a (...) |
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The second edition of Andrew Skinner's essays has been updated to take account of his latest thinking on Adam Smith's system of social and moral science and his experience of teaching Smith to a student audience. The material from the first edition has been extensively rewritten in the light of recent scholarship, and four new essays have been included. Each essay can be read as a self-contained unit, supported by a full bibliography and notes; the book as a whole expounds (...) |
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. The modern interpretation of Smith as a retributive theorist of punishment is challenged in favour of a view of his work as containing a curious amalgam of retributive and utilitarian elements. This unsynthesised theoretical compound accounts for many of the contradictory positions assumed by him, examples of which are given in the article. At the level of “punishment” , the retributivehtilitarian dichotomy is observed in his discussions of merit and demerit and propriety and impropriety . At the level of (...) |
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Both Adam Smith and Herbert spencer, albeit in quite different ways, have been enormously influential in what we today take to be philosophies of modern capitalism. Surprisingly it is Spencer, not Smith, who is the individualist, perhaps an egoist, and supports a "night watchman" theory of the state. Smith's concept of political economy is a notion that needs to be revisited, and Spencer's theory of democratic workplace management offers a refreshing twist on contemporary libertarianism. |
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The “Adam Smith problem” has traditionally been concerned with the issue of authorial integrity: the issue of how a single author, Adam Smith, could have written two such apparently dissimilar, even contradictory, works as The Theory of Moral Sentiments and The Wealth of Nations. As the problem to be resolved was the single authorial origin of two such works, the perceived incompatibilities between them were explained in terms of Smith's intellectual biography – for example, Smith's travels to France, Smith's meetings (...) |
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SYMPATHY IN SMITH The most wide-spread, but ill-informed, opinion about Adam Smith, based on his reputation as the founder of modern economics, makes him out to be a Social Darwinist for whom the most important form of human interaction is competition. In fact, the most important principle in Smith's moral psychology is what he calls sympathy, broadly understood as fellow feeling: the imaginative placing of ourselves in the situation of another, representing to ourselves what we would sense, think, and feel (...) |
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Some of the most important achievements in the field of empiricist ethics were made by the School of Moral Sentiment, comprising Francis Hutcheson, David Hume, and Adam Smith. This book throws new light on their consensus theory of virtue. Hope works some of their ideas into a merit theory of rights applicable to conventional rights, defends ethical cognitivism, and analyzes pleasure. |
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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 ... |
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In lieu of an abstract, here is a brief excerpt of the content:Utility and Morality: Adam Smith's Critique of Hume Marie A. Martin Reading Smith's Theory ofMoral Sentiments one cannot help but note that, in spite ofthe obvious similarities between Smith and Hume and the equally obvious borrowings and adaptions Smith makesofportions of Hume's theory, the two differ substantially on the role of utility in morality. The difference is, in fact, practically diametrical opposition. Hume believed that utility was the "foundation (...) |
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I attempt a reconstruction of Adam Smith's view of human nature as explicated in The Theory of Moral Sentiments. Smith's view of human conduct is neither functionalist nor reductionist, but interactionist. The moral autonomy of the individual, conscience, is neither made a function of public approval nor reduced to self-contained impulses of altruism and egoism. Smith does not see human conduct as a blend of independently defined impulses. Rather, conduct is unified, by the underpinning sentiment of sympathy. |
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This innovative volume, by Michael Shapiro, is not about Adam Smith in the sense in which 'about' is usually understood, for it is neither a comprehensive explication of his views nor a careful tracing of the sources of them. Instead it is a confrontation. This is a book about modernity whose vehicle is a reading of Adam Smith—it is an enactment of the convention that despite the contribution Smith made to creating and legitimating the conceptual space for modern, commercial, liberal, (...) |
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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. |
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This new edition of The Life of Adam Smith remains the only book to give a full account of Smith's life whilst also placing his work into the context of his life and times. |
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Adam Smith and the Philosophy of Law and Economics is a unique book. Malloy and Evensky bring together a team of international and interdisciplinary scholars to address the work of Adam Smith as it relates to law and economics. In addition to their own contributions, the book includes works by Dr. John W. Cairns of the University of Edinburgh, Dr. J. Ralph Lindgren of Lehigh University, Professor Kenneth A.B. Mackinnon of the University of Waikato, and the Honorable Richard A. Posner (...) |
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For almost a century the wages fund doctrine played an important role in classical economic thought, forming the theoretical basis of the classical analysis of the labour market. In Capital and Wages John Vint applies Imre Lakatos's methodology of scientific research programmes (MSRP) to the history of the wages fund doctrine to analyse and appraise its development and decline. After discussing the initial theoretical leaps that the wages fund doctrine made in the hands of Ricardo, Senior and Mill, Dr Vint (...) |
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