Adam Smith's Theory of Moral Sentiments (TMS) and Wealth of Nations (WN) appear to suffer from an irresolvable tension: TMS extols human sympathy whereas WN extols the consequences of self-interest. This project takes a comprehensive approach, adding to scholarship on what has become known as the "Adam Smith Problem." Through a textual analysis of TMS and WN that focuses on prudence, the nature of happiness and Smith's rhetorical style, the inconsistency between his two texts disappears. The emphasis Smith places on prudence in WN can only be properly understood when one considers its foundations in sympathy found in TMS. In addition, the research adds to other interpretive approaches that reconcile Smith's economic, political, and moral thought. The political approach argues that only when society understands the proper role of government and defines "justice" will the economic and moral realms flourish. The economic solution suggests that correct economic structures cure the ills caused by politics, and morality is not a central concern. The "principles" solution suggests that the tension can be solved by reducing Smith's economics, politics, and morality to one overarching principle(s). Finally, the "moral" solution maintains that Smith's moral theory provides the base on which politics and economics are built. It becomes probable Smith favors economic and political structures fundamentally for moral reasons suggesting that WN and his Lectures on Jurisprudence must be read subsequent to TMS. By demonstrating the integral connection between morality and markets, Smith provides his reader with the means to critique educators, economists, and skeptics of capitalism.
Kendra Tully, Mentor: Dr. Jordon Barkalow (Political Science)
Adrian Tinsley Program for Undergraduate Research 2013 Summer Symposium
Bridgewater State University
TVSBSC / Team TVS
