IDEAS home Printed from https://ideas.repec.org/p/osf/osfxxx/uye54.html
   My bibliography  Save this paper

The Edifying Discourses of Adam Smith: Focalism, Commerce, and Serving the Common Good

Author

Listed:
  • Matson, Erik W.

Abstract

Smith’s discourses aim to encourage mores, practices, and public policies in service to the common good, or that which a universally benevolent spectator would approve of. The Wealth of Nations illustrates how in pursuing our own happiness within the bounds of prudence and commutative justice we may be said, literally or metaphorically, to cooperate with God in furthering the happiness of humankind. The Theory of Moral Sentiments elaborates an ethic, here called “focalism,” that instructs us to proportion our beneficent efforts to our knowledge and ability. The relationship between political economy and focalism is bidirectionally reinforcing. In one direction, the ethic of focalism contributes to the moral authorization of self-love, thereby invigorating and dignifying honest commercial activities. In the other direction, the insights of political economy reinforce the ethic of focalism by elaborating how through prudent commerce and focal beneficence we cooperate, even if only metaphorically, in a grand social enterprise.

Suggested Citation

  • Matson, Erik W., 2021. "The Edifying Discourses of Adam Smith: Focalism, Commerce, and Serving the Common Good," OSF Preprints uye54, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:uye54
    DOI: 10.31219/osf.io/uye54
    as

    Download full text from publisher

    File URL: https://osf.io/download/612544752dab24031925c5cf/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/uye54?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Vivenza, Gloria, 2001. "Adam Smith and the Classics: The Classical Heritage in Adam Smith's Thought," OUP Catalogue, Oxford University Press, number 9780198296669.
    2. Jeffrey T. Young, 1997. "Economics as a Moral Science," Books, Edward Elgar Publishing, number 842.
    3. Mueller, Paul D., 2021. "Adam Smith on moral judgment: Why people tend to make better judgments within liberal institutions," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 813-825.
    4. Becker, Gary S, 1981. "Altruism in the Family and Selfishness in the Market Place," Economica, London School of Economics and Political Science, vol. 48(189), pages 1-15, February.
    5. Matson, Erik W., 2021. "A dialectical reading of Adam Smith on wealth and happiness," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 826-836.
    6. Lisa Hill, 2001. "The hidden theology of Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 1-29.
    7. Maria Pia Paganelli & Reinhard Schumacher, 2019. "Do not take peace for granted: Adam Smith’s warning on the relation between commerce and war," Cambridge Journal of Economics, Oxford University Press, vol. 43(3), pages 785-797.
    8. Jacob Viner, 1927. "Adam Smith and Laissez Faire," Journal of Political Economy, University of Chicago Press, vol. 35, pages 198-198.
    9. Kennedy, Gavin, 2011. "The Hidden Adam Smith In His Alleged Theology," Journal of the History of Economic Thought, Cambridge University Press, vol. 33(3), pages 385-402, September.
    10. Klein, Daniel B., 2014. "Knowledge and Coordination: A Liberal Interpretation," OUP Catalogue, Oxford University Press, number 9780199355327.
    11. Force,Pierre, 2003. "Self-Interest before Adam Smith," Cambridge Books, Cambridge University Press, number 9780521830607.
    12. George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, vol. 59, pages 185-185.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matthias P. Hühn & Claus Dierksmeier, 2016. "Will the Real A. Smith Please Stand Up!," Journal of Business Ethics, Springer, vol. 136(1), pages 119-132, June.
    2. Santori, Paolo & Assistant, JHET, 2021. "Idleness and the Very Sparing Hand of God: The invisible tie between Hume’s "Dialogues Concerning Natural Religion" and Smith’s "Wealth of Nations"," OSF Preprints r2uje, Center for Open Science.
    3. Alvey, James E., 2004. "The Theological Foundation Of Adam Smith'S Work," Discussion Papers 23713, Massey University, Department of Applied and International Economics.
    4. Scott Drylie, 2020. "Professional Scholarship from 1893 to 2020 on Adam Smith’s Views on School Funding: A Heterodox Examination," Econ Journal Watch, Econ Journal Watch, vol. 17(2), pages 350–391-3, September.
    5. Alvey, James E., 2004. "Context And Its Relevance For Adam Smith'S Theological And Teleological Views, The Foundation Of His System Of Thought," Discussion Papers 23715, Massey University, Department of Applied and International Economics.
    6. Ötsch, Walter, 2020. "Imagination und Bildlichkeit in der Geschichte der Wirtschaftstheorie: Von Adam Smith bis zur frühen Neoklassik," Working Paper Series 63, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    7. Ahmad Jafari Samimi, 2011. "Ethonomics & the History of Economic Thought," Journal of Social and Development Sciences, AMH International, vol. 2(5), pages 223-232.
    8. Benoît Walraevens, 2022. "Adam Smith’s Economics and the Lectures on Rhetoric and Belles Lettres: The Language of Commerce," Palgrave Studies in the History of Economic Thought, in: Adam Smith’s System, chapter 6, pages 141-166, Palgrave Macmillan.
    9. James Alvey, 2004. "The hidden theology of Adam Smith: A belated reply to Hill," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 11(4), pages 623-628.
    10. Erik W. Matson, 2022. "What is liberal about Adam Smith's “liberal plan”?," Southern Economic Journal, John Wiley & Sons, vol. 89(2), pages 593-610, October.
    11. Eric Schliesser, 2010. "Reading Adam Smith after Darwin: On the Evolution of Propensities, Institutions, and Sentiments," Post-Print hal-00921187, HAL.
    12. Craig, Justin B. & Newbert, Scott L., 2020. "Reconsidering socioemotional wealth: A Smithian-inspired socio-economic theory of decision-making in the family firm," Journal of Family Business Strategy, Elsevier, vol. 11(4).
    13. Madarász, Aladár, 2014. "A láthatatlan kéz - szemelvények egy metafora történetéből [The invisible hand - extracts from the history of a metaphor]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 801-844.
    14. Schliesser, Eric, 2011. "Reading Adam Smith after Darwin: On the evolution of propensities, institutions, and sentiments," Journal of Economic Behavior & Organization, Elsevier, vol. 77(1), pages 14-22, January.
    15. Paul Oslington, 2012. "God and the Market: Adam Smith’s Invisible Hand," Journal of Business Ethics, Springer, vol. 108(4), pages 429-438, July.
    16. Whittaker, Julie, 2011. "The evolution of environmentally responsible investment: An Adam Smith perspective," Ecological Economics, Elsevier, vol. 71(C), pages 33-41.
    17. Matthias P. Hühn, 2019. "Adam Smith’s Philosophy of Science: Economics as Moral Imagination," Journal of Business Ethics, Springer, vol. 155(1), pages 1-15, March.
    18. Clark, Michael J., 2021. "Adam Smith as Solon: Accommodating on the edges of liberty, not abandoning it," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 739-747.
    19. Drylie, Scott, 2021. "Adam Smith on schooling: A classical liberal rereading," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 748-770.
    20. Olivier Bargain & Prudence Kwenda & Miracle Ntuli, 2017. "Gender bias and the intrahousehold distribution of resources: Evidence from African nuclear households in South Africa," WIDER Working Paper Series 071, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:osfxxx:uye54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://osf.io/preprints/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.