Adam Smith and theory/emotions

Adam Smith

• Scottish key figure in the Enlightenment

• Known for writing the Wealth of Nations

• Founder of economics

• Focuses on emotions as basis of consensus

• Ignored by modern economics

Human nature through Smith

• Humans have a nature with two opposing sides:

  Individual= self-interested

  Social= Interested in the well-beings of others (underlies our social nature and allows us to live with others)

Wealth of Nations

• The latter is needed for markets to function properly

• Latter= more recent, what came after

• Self-interest goes amok if absent

Theory of Moral Sentiments

• Sympathy= argues that sympathy is a natural sentiment that underlies our social nature

Empathy and morality

• Empathy= forms base if morality + agreed upon norms for social behavior

• Feeling the joy and pain of others= we get an idea of what is proper and improper behavior

• Guilt when immoral, pride when moral

• Experience emotions when observing immoral acts of others

Takeaway from Smith and emotion

Empathy is key to morality and morality makes us have a consensus

Emphasizes emotions as more than reason