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Adam Smith and Immanuel Kant: On Markets, Duties, and Moral Sentiments

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  • Mark White

Abstract

This note points out a neglected parallel between the philosophies of Adam Smith and Immanuel Kant related to their views on self-interest, morality, and society. First, I explain the distinction between Kant’s perfect and imperfect duties, and how they result from his moral philosophy. Next, I summarize Smith’s two major perspectives on human behavior, as presented in The Theory of Moral Sentiments and The Wealth of Nations, and discuss the apparent conflict between them. Finally, I use Kant’s two types of duties, along with his concept of the kingdom of ends, to explicate my interpretation of the relationship between Smith’s two strains of thought. By explaining these dual aspects of Kant’s ethical system in relation to Smith, I hope to give a new perspective on the apparent duality in Smith’s thought, as well as help bring out the oft-neglected social aspects of Kant’s.

Suggested Citation

  • Mark White, 2010. "Adam Smith and Immanuel Kant: On Markets, Duties, and Moral Sentiments," Forum for Social Economics, Taylor & Francis Journals, vol. 39(1), pages 53-60, January.
    • Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:53-60
    DOI: 10.1007/s12143-009-9043-z
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    1. Mark D White, 2009. "Kantian Ethics and the Prisoners' Dilemma," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 35(2), pages 137-143.
    2. Jeffrey T. Young, 1997. "Economics as a Moral Science," Books, Edward Elgar Publishing, number 842.
    3. Cooter, Robert D., 1998. "Models of Morality in Law and Economics: Self-Control and Self-Improvement for the "Bad Man" of Holmes," Berkeley Olin Program in Law & Economics, Working Paper Series qt5dj8m2kf, Berkeley Olin Program in Law & Economics.
    4. Deirdre McCloskey, 2008. "Adam Smith, the Last of the Former Virtue Ethicists," History of Political Economy, Duke University Press, vol. 40(1), pages 43-71, Spring.
    5. Jonathan Wight, 2006. "Adam Smith's Ethics and the “Noble Arts”," Review of Social Economy, Taylor & Francis Journals, vol. 64(2), pages 155-180.
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    Cited by:

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    5. Richard Robinson, 2018. "Duty and Boycotts: A Kantian Analysis," Journal of Business Ethics, Springer, vol. 149(1), pages 117-126, April.

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