Scholars have sometimes argued that we should conceive of social research as a form of moral inquiry, at least in part, but none have made clear exactly how and why observational research can make a distinctive contribution to moral insight. Returning to an era before the modern distinction between social science and the humanities became entrenched, this article argues that Adam Smith provided a clear and forceful rationale for the moral role of social research, especially history. Smith believed that moral (...) understanding relies on emotional reactions to richly described cases, preferably where our own interests are not at stake. These meditations on particular cases, in turn, provide the basis for moral generalizations that can inform future encounters with particular cases. This perspective led Smith (along with his friend David Hume) to the view that historical writing makes a more important contribution to moral understanding than abstract philosophy does. This article reconstructs Smith’s arguments about the role of empirical observation in cultivating moral sensibility in The Theory of Moral Sentiments, his Lectures on Jurisprudence, and his Lectures on Rhetoric and Belles Lettres. It then connects his argument to contemporary ideas about the nature of moral understanding in philosophy and cognitive science. (shrink)

El presente trabajo se propone mostrar los puntos de contacto existentes entre el desarrollo de la noción de simpatía en La Teoría de los Sentimientos Morales y el desarrollo de la noción de valor en La Riqueza de las Naciones. En cada una de sus dos obras, Smith elige a la noción de simpatía y a la noción de valor como principios fundamentales para la armonía de la conducta social y del sistema de intercambio mercantil, respectivamente. Pero, en ambos casos, (...) esos principios rigen solamente en sociedades pequeñas y no en la sociedad de carácter universal que asomaba ya en la época smithiana, donde el individuo moderno ya no tiene lazos de afecto con todos los miembros de la sociedad y, asimismo, desconoce los esfuerzos necesarios para producir todas las mercancías necesarias para su vida cotidiana. (shrink)

Realism has been a central object of attention among analytical philosophers for some decades. Starting from analytical philosophy, the return of realism has spread into other contemporary philosophical traditions and given birth to new trends in current discussions, as for example in the debates about “new realism.” Discussions about realism focused on linguistic meaning, epistemology, metaphysics, theory of action and ethics. The implications for politics of discussion about realism in action theory and in ethics, however, are not much discussed.

The connections between Adam Smith and Catholic Social Teaching raise several questions. The principle of subsidiarity adopted in CST, according to which higher associations should not replace subordinate organizations on what the latter can do, seems to be in line with the idea that governmental intervention in the market sphere should be restricted to the minimum required, in line with what is typically seen as Smith’s view. But the principle of the common good would also recommend intervention from political authorities (...) in order to ensure that the common good is achieved. Here I shall argue that this question must be addressed taking into account another principle of CST, the principle of solidarity, and also the basic principle of CST, regarding human dignity. To do so, it is necessary to understand how the various principles of CST spring from the notion of imago Dei in CST, which is behind the notion of human dignity. This leads to a relational conception of human beings which can be fruitfully articulated with Smith’s moral philosophy and political economy. (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)

Smith defines the business enterprise primarily as the endeavor of an individual who remains fully embedded in the broader society and subject to its moral demands. For him, the conceptions of the local community and its normative framework, of the enterprise, and of the individuals within it need to be aligned with each other and developed together. Over time, four processes have, however, led to a widening gap between the business world and the local community. These are the dissemination of (...) the corporate model, the transformation of the entrepreneurial role toward an agency role, changes in the ownership structure, and changes in the relation to the local community. This article presents Smith’s integrative conception of business and its contributions to the development of integrative theories of organizations and of business–society relations in the twenty-first century. Among others, it discusses the necessity to develop a normative-relational dimension of organizations that addresses the relations between the organization, its members, and the normative framework of the local community. This integrative approach of business–society relations challenges current business ethics research which often suggests that solutions to the current scandals lie either within the framework, the organization, or the individuals. (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)

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.