Adam Smith

I respond to Nuno Palma’s suggestion, made in 2008, that we are approaching the day in which nothing new can be said about Adam Smith. I think that is unlikely. The paper presents a model to support the suggestion. To illustrate my counterargument, I focus on the problem of Adam Smith’s apparently contradictory claims about the effects of the division of labour on character.

How old is the distinction between the genetic and the gestational parent? Anca Gheaus “suggests” it is quite new, but I believe people have made a distinction along these lines for centuries in their imaginations. I present a problem related to the distinction and to the Scottish enlightenment.

This paper argues that Adam Smith’s attempt to use the pin factory example to illustrate a general phenomenon – the value of the division of labour – seems to depend on an assumption. Put simply, the assumption is that the skills and knowledge involved in one task are not relevant to doing another task, or if they are relevant they would just be developed by specializing in the other task.

I propose a solution to a problem raised by E.G. West’s paper “Adam Smith’s Two Views on the Division of Labour.” Smith seems committed to the views that the division of labour makes people more and less intelligent.

Drawing on 49 oral-history interviews with Scottish family business owner-managers, six key-informant interviews, and secondary sources, this interdisciplinary study analyses the decline of kinship-based connections and the emergence of new kinds of elite networks around the 1980s. As the socioeconomic context changed rapidly during this time, cooperation built primarily around literal family ties could not survive unaltered. Instead of finding unity through bio-legal family connections, elite networks now came to redefine their ‘family businesses’ in terms of affectively loaded ‘family values’ (...) such as loyalty, care, commitment, and even ‘love’. Consciously nurturing ‘as-if-family’ emotional and ethical connections arose as a psychologically effective way to bring together network members who did not necessarily share pre-existing connections of bio-legal kinship. The social-psychological processes involved in this extension of the ‘family’ can be understood using theories of the moral sentiments first developed in the Scottish Enlightenment. These theories suggest that, when the context is amenable, family-like emotional bonds can be extended via sympathy to those to whom one is not literally related. As a result of this ‘progress of sentiments’, one now earns his/her place in a Scottish family business, not by inheriting or marrying into it, but by performing family-like behaviours motivated by shared ethics and affects. (shrink)

Philosophy and Phenomenological Research, EarlyView.

This work details the theological sources and moral significance of the life and work of the Scottish moral philosopher Adam Smith (1723-1790). The panel of contributors deepen our understanding of Adam Smith in his religious and theological context and the significance of this understanding for contemporary moral, economic, and political challenges to modern social life. The chapters cover a broad range of disciplinary and historical concerns, from Smith's view of providence and his famous "invisible hand" to the role of self-interest (...) and benevolence in Smith's social and economic thought. A better appreciation for the moral and theological dimensions of Smith's thought provides not only a better understanding of Smith's own context and significance in the Scottish Enlightenment, but also promises to assist in meeting the perennial challenges of properly connecting economic realities to moral responsibility. The book is of interest to advanced students and scholars of the history of economic thought, historical and moral theology, intellectual history, political science and philosophy. (shrink)

In this article we reconsider strands of Adam Smith’s contribution to the project of the Enlightenment. Many of these, as we shall identify, remain poignant, and valuable observations for the twenty-first century. This sampled reconsideration touches both on how Smith is identified, as well as occasionally misread, as an Enlightenment philosopher/economist; and the extent to which t/his enlightenment survives.

This article reconstructs Adam Smith’s contribution to the conversation on the nature and value of free government in the eighteenth century. Smith contributes to this conversation in two ways. First, by embedding the idea of free government in a narrative of the progress of government, which traces the interplay between natural progress and social circumstances, and culminates in the establishment of modern free government in Britain. Second, by offering a theory of the form of free government fit for modern commercial (...) states. Drawing on the “rational system of liberty” established in Britain, the Smithian model of free government is based on a “happy mixture” of republicanism and monarchism. Looking beyond the rational system, it merges the traditional concern for constitutional security against arbitrary power with a new science of policy intended to moderate the oppressive inclinations of legislators. The article contests Duncan Forbes’ reading of Smith as questioning the relation between individual liberty and free government, and brings Smith closer to Quentin Skinner’s work on the neo-Roman understanding of liberty. It suggests that Smith’s work may offer insight into some of the ways in which neo-Roman ideas were being creatively reformulated in the eighteenth century. (shrink)

What might Adam Smith have learned from Jane Austen and other novelists of his moment? This paper finds and examines a serious problem at the center of Adam Smith’s moral psychology, stemming from an unacknowledged tension between the effort of the spectator to sympathize with the feelings of the agent and that of the agent to moderate her feelings. The agent’s efforts will result in her opacity to spectators, blocking their attempts to read her emotions. I argue that we can (...) resolve this tension by looking to developments in eighteenth-century literature, as perfected in the hands of Jane Austen. I focus on two techniques, focalization and free indirect style, and I show that the problems for spectatorship diminish when we see that good Smithian spectators are savvy readers. (shrink)

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)

This book contributes to the 'new view' reading of Adam Smith, providing a historically and contextually rich interpretation of Smith's thought. Smith built a moral philosophy on the foundations of a natural theology of human sociality. Examination of his life, relationship with David Hume, and use of divine names shows that he retained a progressive form of Christian theism. The book interrogates the metaphor of the 'invisible hand' and highlights the importance of the religious dimension of Adam Smith's thought for (...) his moral philosophy, his jurisprudence and his economics. It reflects on the contemporary relevance of a theological reading of Smith and lays the ground for further inquiry between economic and religious perspectives. (shrink)

With Being Me Being You, Samuel Fleischacker provides a reconstruction and defense of Adam Smith’s account of empathy, and the role it plays in building moral consensus, motivating moral behavior, and correcting our biases, prejudices, and tendency to demonize one another. He sees this book as an intervention in recent debates about the role that empathy plays in our morality. For some, such as Paul Bloom, Joshua Greene, Jesse Prinz, and others, empathy, or our capacity for fellow-feeling, tends to misguide (...) us in the best of cases, and more often reinforces faction and tribalism in morals and politics. These utilitarians, as Fleischacker refers to them, propose that empathy take a back seat to cost-benefit analysis in moral decision-making. As an intervention, the book is largely successful. Fleischacker’s defense of empathy is nuanced and escapes the myopic enthusiasm to which many partisans of empathy are prone. Anyone looking to understand the relationship between empathy and morality would do well to grapple with Being Me Being You. Still, Fleischacker overlooks that Smith would most likely be less convinced of the idea that greater empathy can help us overcome the great challenges of our time. (shrink)

This review covers two recent monographs on Adam Smith: Samuel Fleischacker’s Adam Smith and John McHugh’s Adam Smith’s ‘The Theory of Moral Sentiments’: A Critical Commentary. Fleischacker’s work fills a significant gap in Smith scholarship. There have been relatively few attempts to present Smith in a way that is inviting to non-specialists while also doing justice to him as a systematic thinker. Adam Smith presents a compelling picture of a philosopher who makes the case for freedom and a life of (...) virtue during a time of political and moral upheaval. McHugh’s Adam Smith’s TMS is an inspiring, personal journey through Smith’s masterwork in ethics, which has the added value of paying close attention to TMS VII, the most overlooked section of the text. Fleischacker’s and McHugh’s books represent the best of what Smith scholarship currently offers to specialists and non-specialists alike. Anyone looking to dive deeper into Smith’s work, or to wade into it for the first time, would benefit from using these works as a guide in the process. (shrink)

The aim of this paper is to present a comparative analysis and reconstruction of the approach to social, moral, and institutional change in the theories of Adam Smith and Sophie de Grouchy. In their theories moral philosophy is inextricably linked with social thought. I also discuss the role of education and institutions in such a process. I argue that Smith's and de Grouchy's understanding of the roles of sympathy and institutions are strictly connected to the way they perceive the process (...) of social change. Both philosophers considered people as equals and equally capable of sympathizing with others. For both of them, sympathy is a key element in reconstructing how societies change. In my opinion, both these philosophers believe that such a change can be induced: in the case of de Grouchy, this would be done primarily by legislators. In the case of Smith, respected people are capable of initiating change and are subsequently followed by others. (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)

A radical reinterpretation of Adam Smith that challenges economists, moral philosophers, political theorists, and intellectual historians to rethink him—and why he matters Adam Smith has long been recognized as the father of modern economics. More recently, scholars have emphasized his standing as a moral philosopher—one who was prepared to critique markets as well as to praise them. But Smith’s contributions to political theory are still underappreciated and relatively neglected. In this bold, revisionary book, Paul Sagar argues that not only have (...) the fundamentals of Smith’s political thought been widely misunderstood, but that once we understand them correctly, our estimations of Smith as economist and as moral philosopher must radically change. Rather than seeing Smith either as the prophet of the free market, or as a moralist who thought the dangers of commerce lay primarily in the corrupting effects of trade, Sagar shows why Smith is more thoroughly a political thinker who made major contributions to the history of political thought. Smith, Sagar argues, saw war, not commerce, as the engine of political change and he was centrally concerned with the political, not moral, dimensions of—and threats to—commercial societies. In this light, the true contours and power of Smith’s foundational contributions to western political thought emerge as never before. Offering major reinterpretations of Smith’s political, moral, and economic ideas, Adam Smith Reconsidered seeks to revolutionize how he is understood. In doing so, it recovers Smith’s original way of doing political theory, one rooted in the importance of history and the necessity of maintaining a realist sensibility, and from which we still have much to learn. (shrink)

This essay has two purposes—first, to identify Adam Smith as intervening in the debate between Montesquieu and Hume regarding the nature, age, and robustness of English liberty. Whereas Montesquieu took English liberty to be old and fragile, Hume took it to be new and robust. Smith disagreed with both: it was older than Hume supposed, but not fragile in the way Montesquieu claimed. The reason for this was the importance of the common law in England’s legal history. Seeing this enables (...) the essay’s second purpose: achieving a more thorough and nuanced understanding of Smith’s account of liberty. This requires us to go beyond repeating Smith’s famous claim that modern liberty was the result of the feudal barons trading away their wealth and power for inane status goods. As I demonstrate, this is only one part of a much wider story: of liberty requiring, and also being constituted by, the rise of the regular administration of justice, and ultimately the rule of law. Although Smith’s history of the English courts and common law has been almost entirely neglected by scholars, it is indispensable to understanding both his reply to Montesquieu and Hume and his wider political theory of modern freedom. (shrink)

ABSTRACT This article offers some reflections on the importance Adam Smith accorded to luck in The Wealth of Nations. While the place of moral luck in The Theory of Moral Sentiments has been the subject of some scholarly attention, this has not been the case for luck in his best-known work. It focuses on what Smith thought particularly striking about our estimation of our own good fortune and argues that it accentuated the need for trustworthiness and trusted friends.

This paper discusses Adam Smith’s intellectual relationship with the French Enlightenment, with a particular focus on his view of French culture as conveyed in The Theory of Moral Sentiments. Compared to England at that time, eighteenth-century Scotland is considered as having a closer affiliation with France in terms of their intellectual and cultural life during what has been dubbed the Enlightenment. While David Hume was representative of the affinity between the French and Scottish literati, Smith also held an enduring interest (...) in the French philosophy, literature, and other aspects of its civilisation, long before the historic visit to Toulouse and Paris that would shape his political economy greatly. While this paper shall examine Smith’s Francophile and Europeanist tendency within his moral argument, it also emphasises that he was abundantly aware of the moral cultural tensions between these two branches of the European Enlightenment. (shrink)

This paper argues that Kant’s concept of ‘respect’ for the moral law has roots in Adam Smith’s concept of ‘regard’ for the general rules of conduct, which was translated as Achtung in the first German translation of the Theory of Moral Sentiments. After illustrating that Kant’s technical understanding of respect appeared relatively late in his intellectual development, I argue that Kant’s concept of respect and Smith’s concept of regard share a basic similarity: they are both a single complex phenomenon with (...) two core aspects, namely an attitude and a feeling. I then suggest that the concept of regard offered Kant a way to deal a problem concerning moral motivation that he was trying to solve at the time he likely first read Smith. I conclude by drawing some implications from the account I have offered for our understanding of Kant’s relation to Smith more generally. (shrink)

In this article, I examine two competing republican ideals of a free society of equals in the eighteenth century. I claim that while the value of nondependency was central to the economic outlooks of both Adam Smith and Richard Price, their evaluations of free-market practices were dramatically distinct. In doing so, I introduce a new interpretation of the typologies of republicanism in the eighteenth century.

Since the beginning of 2020, lockdowns have been introduced in numerous countries across the world in response to the emergence of coronavirus SARS-CoV-2 that causes the COVID-19 disease. Although the topic of lockdowns has been considered from numerous perspectives, it has not yet been analyzed in the context of Adam Smith’s economic philosophy and liberalism. This paper aims to list – at least to some extent, as the topic is very broad – the most prominent arguments that have arisen in (...) the worldwide discussion on the effectiveness and side effects of lockdowns. In addition, the work provides some elements of Smith’s economic philosophy and liberalism. Finally, the arguments that have arisen in the academic discussion since the introduction of lockdowns are analyzed, and the legitimacy of lockdowns is assessed in the context of Smith’s principles. The methods used for the analysis are text exegesis and rational reconstruction. As far as the conclusions are concerned, an explicit assessment of the legitimacy of lockdowns in the discussed context is considered impossible, although for many elements of Smith’s liberalism, lockdowns are not legitimate at all. (shrink)