Examining "The Adam Smith Problem": Individuals, Society, and Value

In this paper I offer an analysis of the Adam Smith Problem. This Problem arises from perceived inconsistencies between Smith's economic work, The Wealth of Nations, and his moral theory, the Theory of Moral Sentiments. I argue that far from being inconsistent with Smith's economic theory, his moral theory serves as a necessary foundation. I suggest that, because he takes humans to be moral by nature, Smith defends social capitalism which requires moral economic agents rather than homo economicus. I then sketch some specific implications for the moral limits of Smithian social systems.

Name thesis:degree_name

Master of Arts

Level thesis:degree_level

masters

Discipline thesis:degree_discipline

Philosophy

Department dc:contributor.department

Philosophy

Grantor dc:publisher

Virginia Tech

Year dc:date.issued

2012

Author dc:creator

• Crowder, Rachel E.

Chair dc:contributor.committeechair

• Pitt, Joseph C.

Committee members dc:contributor.committeemember

• Moehler, Michael
• Patton, Lydia K.

• Adam Smith
• virtue
• capitalism
• value

Statement dc:rights

• In Copyright

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Dc Identifier Other

etd-05162012-153717

OAI identifier oai:identifier

oai:vtechworks.lib.vt.edu:10919/32889