Adam Smith's moral economy

Berry, C. (2011) Adam Smith's moral economy. Kyoto Economic Review, 79(1), pp. 2-15.

Abstract

This paper has the following four-part structure. In the first part, I quickly rehearse the classical disparagement of commercial or economic life (in deliberate contrast to the more highly valued life of politics or active citizenship). In part 2, I outline Smith’s defence of commerce— his vindication of what he calls opulence and freedom. In the third part, I correct that interpretation of Smith that reads this defence as unleashing asocial or selfish behaviour and thus as freeing the ‘economy’ from moral norms (as a ‘de-moralisation’). Rather, I argue that Smith’s own moral philosophy, with its roots in social interaction, is based on a criticism of self-love that does, moreover, permit a wider critique of aspects of his contemporary commercial society, while steadfastly adopting a view of ‘liberty’ that is thoroughly moralised. I conclude in part 4 with a brief summary.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Berry, Professor Christopher
• Authors: Berry, C.
• Subjects: J Political Science > JC Political theory
• College/School: College of Social Sciences > School of Social and Political Sciences
• Journal Name: Kyoto Economic Review
• Journal Abbr.: KER
• Publisher: Kyoto University
• ISSN: 1349-6786
• ISSN (Online): 1349-6778
• Published Online: 01 January 2011

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