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Vilfredo Pareto’s Sociologia in relation to Adam Smith’s the theory of moral sentiments

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Listed:
  • Michael McLure

    (University of Western Australia)

  • Rogério Arthmar

    (Universidade Federal do Espírito Santo
    The University of Buckingham)

Abstract

It is abundantly clear that Vilfredo Pareto held Adam Smith in high regard for his contributions to political economy, yet, in his Trattato di Sociologia Generale, there is no mention of Smith’s The Theory of Moral Sentiments. This study presents a comparison of these two great studies of sentiment, utility and action. It is established that there is a basic compatibility between Pareto’s conception of non-logical action in the Sociologia and Smith’s distinction in the TMS between regular and irregular sentiments, yet the two thinkers investigated these conceptions and distinctions from very different, sometimes inconsistent, perspectives. We also offer some reasons why there has been considerable debate over an alleged inconsistency between Smith’s political economy and his philosophical study of sentiments, but no such similar debate in relation to Pareto’s political economy and his sociological study of sentiments.

Suggested Citation

  • Michael McLure & Rogério Arthmar, 2024. "Vilfredo Pareto’s Sociologia in relation to Adam Smith’s the theory of moral sentiments," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 71(3), pages 491-506, September.
    • Handle: RePEc:spr:inrvec:v:71:y:2024:i:3:d:10.1007_s12232-024-00461-y
    DOI: 10.1007/s12232-024-00461-y
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    References listed on IDEAS

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    1. Michael McLure, 2007. "The Paretian School and Italian Fiscal Sociology," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59626-9, September.
    2. Amos Witztum & Jeffrey T. Young, 2013. "Utilitarianism and the role of utility in Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(4), pages 572-602, August.
    3. Roberto Marchionatti & Fiorenzo Mornati, 2021. "Pareto’s Trattato di Sociologia Generale: a behaviourist ante litteram approach," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 45(2), pages 353-369.
    4. Paul Dalziel & Jane Higgins, 2006. "Pareto, Parsons, and the Boundary Between Economics and Sociology," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(1), pages 109-126, January.
    5. Maria Pia Paganelli, 2008. "The Adam Smith Problem in Reverse: Self-Interest in The Wealth of Nations and The Theory of Moral Sentiments," History of Political Economy, Duke University Press, vol. 40(2), pages 365-382, Summer.
    6. Tajima, Keigo, 2007. "The theory of institutions and collective action in Adam Smith's Theory of Moral Sentiments," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(4), pages 578-594, August.
    7. Patrik Aspers, 2001. "Crossing the Boundary of Economics and Sociology: The Case of Vilfredo Pareto," American Journal of Economics and Sociology, Wiley Blackwell, vol. 60(2), pages 519-545, April.
    8. Montes, Leonidas, 2003. "Das Adam Smith Problem: Its Origins, the Stages of the Current Debate, and One Implication for Our Understanding of Sympathy," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(1), pages 63-90, March.
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