I examine the history of the concept of spontaneity in philosophy and the social sciences, particularly as it relates to monetary phenomena. I then offer an argument for the general significance of spontaneity. The essay concludes that scholars across the humanities and social sciences, whatever their (disciplinary, political, ideological, etc.) persuasion, would be well-served to further develop the theory of spontaneity and its social effects.

A deep theme of Austrian economics has been that of spontaneous order or selforganization of the economy. The origin of this theme dates to the putative founder of the Austrian School, Carl Menger, with his theory of the spontaneous emergence of money for transactions purposes in primitive economies being archetypal example (Menger, 1892). Menger drew this approach from the Scottish Enlightenment figures David Hume, Adam Ferguson, and Adam Smith, with the latter’s (...) Wealth of Nations (1776) particularly important. The most important developer of this idea within the tradition after Menger was F.A. Hayek (1948), who would identify this self-organization phenomenon with emergence, later expanding upon this into the broader concept of complexity (Hayek, 1952, 1967). Caldwell (2004) argues that this became an increasingly important focus of Hayek’s thought in the later years of his life. Among those examining this development in more detail besides Caldwell have been Koppl (2006, 2009), Rosser (2010a),1 and Lewis (2010). This essay will consider more thoroughly the relationship between the concepts of emergence and complexity and the roles that they have played in Austrian economics as well as more broadly in philosophy and science. An important point is that both of these concepts do not possess precise meanings; they are “terms of art” within philosophy. However, while closely linked through the general idea of a whole being “greater than.. (shrink)

“Every step and every movement of the multitude, even in what are termed enlightened ages, are made with equal blindness to the future; and nations stumble upon establishments, which are indeed the result of human action, but not the execution of any human design.”—_Adam Ferguson_ During the Scottish Enlightenment, David Hume, Adam Smith, Adam Ferguson, and other lesser thinkers described a theory of spontaneously generated social order. Ronald Hamowy discusses their contributions to this significant area of (...) social theory, noting that the revolutionary aspect of these philosophers’ thoughts was “the proposition that social phenomena of a high degree of intricacy are not the product of intentional design.” Hamowy shows that Hume is best known for his application of the theory to justice, developing it most thoroughly in the _Treatise of Human Nature. _Adam Smith’s first treatment of it is in the _Theory of Moral Sentiment, _published before the significant _Wealth of Nations. _There Smith uses it to explain the development of general rules that compose the moral fabric of societies. All of these thinkers used their notion of spontaneously generated social order to explain systems of moral rules and social systems. In addition Adam Ferguson and David Hume applied the theory to language, as well as to economic development. (shrink)

When Adam Smith published his celebrated writings on economics and moral philosophy he famously referred to the operation of an invisible hand. Adam Smith's Political Philosophy makes visible the invisible hand by examining its significance in Smith's political philosophy and relating it to similar concepts used by other philosophers, revealing a distinctive approach to social theory that stresses the significance of the unintended consequences of human action. This book introduces greater conceptual clarity to the discussion of the (...) invisible hand and the related concept of unintended order in the work of Smith and in political theory more generally. By examining the application of spontaneous order ideas in the work of Smith, Hume, Hayek and Popper, Adam Smith's Political Philosophy traces similarities in approach and from these builds a conceptual, composite model of an invisible hand argument. While setting out a clear model of the idea of spontaneous order the book also builds the case for using the idea of spontaneous order as an explanatory social theory, with chapters on its application in the fields of science, moral philosophy, law and government. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:David HumeRyu SusatoChristopher J. Berry. David Hume. New York: Continuum, 2009. Pp. xiv + 176. ISBN 978-0-826-42980-7, Cloth, $130.00In this book Professor Berry concisely and convincingly demonstrates two points: the various reasons “why Hume’s thought has indeed been frequently read as a contributor to or progenitor of conservatism” (154), and why the author nonetheless disagrees with this assessment. According to Berry, to identify some—or in fact (...) many—elements or strains of conservative thoughts in Hume’s writings is one thing and to classify him as a conservative thinker another. Berry picks up four major themes of analysis: Hume’s theories of causation and of justice, his economic thought, and his remarks on superstition. Rather than constituting distinct elements of the philosopher’s thought, these strands are seen as closely intertwined. As for the first two, Berry argues that Hume’s theories of causation and justice are solidly founded upon his emphasis on custom and habit, and he perceives here “the clear connection between Hume’s epistemology and his political and moral philosophy” (43). Despite accepting this, Berry claims that overall Hume is not a conservative philosopher. The focal point of Berry’s argument is Hume’s criticism of superstition: he contends that Hume’s term ‘superstition’ has a wider sense, indicating bad customs. This means that, despite his emphasis on custom and habit in epistemology and politics, Hume neither accepts nor justifies every historically well established custom. For example, he criticizes many mercantilist laws (such as usury and sumptuary laws), which according to Berry’s reading, can be regarded as based on a kind of economic superstition. On this point, Hume can be more easily depicted as a liberal rather than a conservative thinker.Precisely because of the book’s close focus on the issue of Hume’s alleged conservatism, the question “What, then, is Hume?” is discussed only in negative ways. Berry demonstrates his sympathy for J. B. Stuart’s interpretation of Hume as a liberal, but, as both admit, Hume is clearly not a liberal in terms of adopting a rights-based philosophy (48–49, 98). If Hume is considered to be a liberal, therefore, the issue remains of what kind of liberal he is. Although such an investigation might be inappropriate given the nature of this series, readers might still wish that Berry had addressed the issue more clearly.The extent to which some elements of the philosophy that Berry depicts are peculiar to Hume is not clear. Although Hume’s writings contain the harshest criticisms of religious superstition among Scottish Enlightenment thinkers, he shared his basic stance with many of his friends. Hume’s criticism of superstition, that is bad customs, should therefore be re-grounded in the context of the Scottish Enlightenment. Moreover, Berry never indicates whether he believes that [End Page 240] Hume’s views on good customs or manners were nothing but eighteenth-century prejudices, as McIntyre says in After Virtue (University of Notre Dame Press, 1985, p. 231). If they were not the prejudices of a particular time but more universal, how can we distinguish Hume’s emphasis on pain and pleasure in his moral theory and his criteria of good manners from those of, say, Jeremy Bentham?I would suggest some alternative strategies to refute or challenge the common depiction of Hume as a conservative. One is to question the theoretical framework behind our own understanding of Hume’s thought. The connection between Hume’s skeptical understanding of causation in epistemology and his (allegedly) conservative politics has been reiterated since the nineteenth century. Furthermore, scholars have consistently linked Hume’s liberalistic defense of commerce to his theory of justice. As Berry claims, this packaging of Hume’s various strands of thought has been justified by what Hayek calls the theory of spontaneous order. This theory explains and justifies Hume’s claims about the superiority of unintended social institutions produced by self-interested individuals over those based on human rational design. For Hayek, the epitome of the former is the free-market economy, while the latter category includes the idea of a planned economy and models based upon the theory of... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:David Hume and Adam Smith: A Japanese Perspective by Tatsuya SakamotoEstrella TrincadoTatsuya Sakamoto. David Hume and Adam Smith: A Japanese Perspective. London and New York: Routledge, 2021. Pp. 297. ISBN 9780367683023. Hardback. £130.This book is a collection of essays and articles by the Japanese scholar Tatsuya Sakamoto. In the foreword, Ryu Susato, professor of the Faculty of Economics at Keio University, Tokyo, notes (...) that in Japanese society Marxism has been the dogma of the history of social and economic thought. As a consequence, Japanese society has been labelled as “collectivist.” In this context, only a privileged intellectual background allowed Sakamoto to find his own way, as he graduated from Keio University and was part of its faculty. The Faculty of Economics of Keio University has spread the academic culture of liberalism that descended from Yukichi Fukuzawa (1834–1901), a reformer and founder of Keio and one of the most influential liberal thinkers in Meiji Japan (1868–1930). In addition, the family background of Sakamoto and the interest of his mother in the English language left a mark on him. Sakamoto was one of the rare Japanese scholars to study abroad in the 1980s, in particular at the University of Glasgow for two years (1984–1986) under the academic guidance of Andrew Skinner. There, he took interest in biographical and bibliographical studies. During his initial research, he found on a note by George Chalmers some evidence for David Hume’s authorship of an anonymous review of Smith’s Theory of Moral Sentiments, published in the Critical Review of May 1759.1 Then, along with David D. Raphael, Sakamoto transcribed the material with a commentary in the Journal of the History of Philosophy2 (Chapter 6 of the reviewed book) and he published “Hume’s Early Memoranda and the Making of His Political Economy” in Hume Studies3 (Chapter 4). There, Sakamoto gives interesting insights on Hume’s Early [End Page 163] Memoranda of manuscripts published by Mossner.4 This manuscript compilation shows the desire of Hume to pursue a systematic discourse on political economy. These efforts resulted in a large number of works published by Hume from 1748 to 1757 and even after his death, in Essays, Moral and Political, in The Natural History of Religion, and in Political Discourses.Later, Sakamoto published various articles on Hume’s economic thought in English (Chapters 1 and 5). In addition, he published his first monograph in Japanese.5 He argued that the “civilized society”—an idealization of Western societies—which was thought to be a prerequisite in Japan for the socialist revolution, concealed the different eighteenth-century historical realities of European countries in which Hume and Smith lived. Sakamoto received for this monograph the Suntory Academic Prize for Social Sciences and Humanities in 1996 and the Japan Academy Prize in 2001. In his Japanese monographs, Sakamoto interprets Hume as a firm defender of modernity and civilization, using his empiricist theory to inspire the spirit of serving the public good of a civilized society. Hume is a main character of the historiographical odyssey of the conflict between order and liberty.6 Hume tried to bridge the gap between the practical empiricism of mercantilist literature7 and the normative rationalism of natural jurisprudence,8 developing the science of economics on a philosophical foundation.After a brief leave spent at Boston University under the care of Knud Haakonssen, Sakamoto coedited a collection of essays written by Japanese scholars9 (Sakamoto’s contribution is included in Chapter 3). Another of Sakamoto’s important contributions is Chapter 9 of this book, originally published in The Adam Smith Review in 2017.10 There, we learn of Yoshihiko Uchida (1913–1983), a Japanese historian of social thought who specialized in Smith and Marx, and paid much early attention to the Smith-Rousseau connection in his The Birth of Economic Science (never published in English). As Sakamoto says, Uchida’s original view of this great Scottish philosopher, Adam Smith, proves that scholars infuse new life into classical texts, no matter how distant they may be from the object of their study in space and time. Besides, by discussing in English previous Japanese scholars’ contributions, Sakamoto is... (shrink)

With a new foreword by Paul Kelly 'I regard Hayek's work as a new opening of the most fundamental debate in the field of political philosophy' - Sir Karl Popper 'This promises to be the crowning work of a scholar who has devoted a lifetime to thinking about society and its values. The entire work must surely amount to an immense contribution to social and legal philosophy' - Philosophical Studies Law, Legislation and Liberty is Hayek's major statement of political philosophy (...) and one of the most ambitious yet subtle defences of a free market society ever written. A robust defence of individual liberty, it is also crucial for understanding Hayek's influential views concerning the role of the state: far from being an innocent bystander, he argues that the state has an important role to play in defending the norms and practices of an ordered and free society. His arguments had a profound influence on the policies of Thatcher in the 1980s and resonate today in visions of the 'Big Society'. First published in three separate volumes, this Routledge Classics edition makes one of his most important books available in a single volume. Essential reading for understanding the background to the recent world economic turmoil and financial crisis, it also foreshadows the subsequent heated debate about regulation and political governance if such disasters are to be avoided in the future. (shrink)

By exploring the writings of Mandeville, Hume and Smith, this book offers a critique of Hayek's theory of cultural evolution and explores the roots of his powerful defence of liberalism.

In lieu of an abstract, here is a brief excerpt of the content:Journal of the History of Ideas 63.4 (2002) 659-676 [Access article in PDF] Adam Smith's "Letter to the Authors of the Edinburgh Review" Jeffrey Lomonaco One of Adam Smith's first publications was a letter addressed to the editors of the Edinburgh Review, printed anonymously in the second issue of the semiannual periodical in 1756. 1 The compact text entitled "A LETTER to the Authors of the Edinburgh (...) Review," which has received surprisingly little scholarly attention, offers valuable insight into Smith's work and career, and not merely because it confirms that Smith was an unusually widely-read man of letters long before he was the retrospectively anointed founder of the discipline of economics, though it does that. Indeed, the thirty-two-year-old writer presumes to pass judgment on the writing and learning of Europe as a whole and specifically assesses the only recently published work of Rousseau, the Encyclopédie project still in progress, and the work of Réaumur, Buffon and Daubenton, Descartes, Newton, and others. In this text (whose authorship was known well before Dugald Stewart noted it in his biographical account in the early 1790s) Smith delineates a space of learning that is at once Scottish, British, and European, mapping out a set of relations of complex rivalry between France, England, and Scotland in order to articulate and advocate a cosmopolitan patriotism. 2 He suggests that while England occupied the preeminent position in learning in the past, France does so in the present, and Scotland is in a position to do so in the near future, if it is properly incited. Smith's careful [End Page 659] rhetorical incitement of his Scottish contemporaries to fulfill this promise of future primacy in learning also reveals his own ambitions and how he proposed to realize them.My reading of the text will throw into relief Smith's strategy and show how, although Smith does not name his good friend David Hume, he subtly expresses his own allegiances to the Humean science of man as the way for Scotland to achieve primacy in the world of learning, and he indicates that the most important task facing the world of knowledge—the task he takes as his own—concerns the proper systematic organization and presentation of moral knowledge. That Smith's is a subtle writerly performance which calls for attention to the grain of the text is itself part of the point of my interpretation, especially since the rhetorical care Smith took in composition is generally underestimated, or at least not adequately attended to in detail. 3 Judging Rivals The Edinburgh Review was a project begun by a number of members of the Select Society, one of those social vehicles of improvement and enlightenment that flourished throughout Europe in the eighteenth century. 4 Smith was a founding member of the Select Society in 1754 and may have been one of the initiators of the periodical, to the inaugural 1755 issue of which he contributed a review of Johnson's Dictionary. 5 The preface of the opening issue of the Review, probably written by the editor Alexander Wedderburn, a close friend of Smith's, positioned the Review as Scotland's somewhat belated contribution to the widespread European print enterprise of bringing advances in knowledge to the attention of the public. 6 The purpose of the periodical, Wedderburn's preface declared, was to demonstrate "the progressive state of learning in this country" and thereby to incite Scots "to a more eager pursuit of learning, to [End Page 660] distinguish themselves, and to do honour to their country." 7 To these ends each issue of the Review was going "to give a full account of all books published in Scotland within the compass of half a year; and to take some notice of such books published elsewhere, as are most read in this country, or seem to have any title to draw the public attention." 8 The title page of the first issue, which appeared on 26 August 1755 and which covered books published between 1 January and... (shrink)

The story of the greatest of all philosophical friendships—and how it influenced modern thought David Hume is widely regarded as the most important philosopher ever to write in English, but during his lifetime he was attacked as “the Great Infidel” for his skeptical religious views and deemed unfit to teach the young. In contrast, Adam Smith was a revered professor of moral philosophy, and is now often hailed as the founding father of capitalism. Remarkably, the two were best (...) friends for most of their adult lives, sharing what Dennis Rasmussen calls the greatest of all philosophical friendships. The Infidel and the Professor is the first book to tell the fascinating story of the friendship of these towering Enlightenment thinkers—and how it influenced their world-changing ideas. The book follows Hume and Smith’s relationship from their first meeting in 1749 until Hume’s death in 1776. It describes how they commented on each other’s writings, supported each other’s careers and literary ambitions, and advised each other on personal matters, most notably after Hume’s quarrel with Jean-Jacques Rousseau. Members of a vibrant intellectual scene in Enlightenment Scotland, Hume and Smith made many of the same friends, joined the same clubs, and were interested in many of the same subjects well beyond philosophy and economics—from psychology and history to politics and Britain’s conflict with the American colonies. The book reveals that Smith’s private religious views were considerably closer to Hume’s public ones than is usually believed. It also shows that Hume contributed more to economics—and Smith contributed more to philosophy—than is generally recognized. Vividly written, The Infidel and the Professor is a compelling account of a great friendship that had great consequences for modern thought. (shrink)

Friedrich Hayek’s account of “spontaneous order” has generated increasing interest in recent decades. His argument for the superiority of the market in distributing knowledge without the need for central oversight has appealed to progressive democratic theorists, who are wary of the hubris of state planning and attracted to possibilities for self-organization, and to Foucaultians, who have long counseled political theory to cut off the King’s head. A spontaneous social order, organized by an invisible hand, would appear to dispense (...) with arbitrary power and foster creativity and individual liberty. This article challenges this view by highlighting the centrality of submission to Hayek’s account of spontaneous order. It shows that Hayek struggles to obscure the providentialism underpinning the account of social order he derives from Adam Ferguson and the Scottish Enlightenment. Nonetheless, his own account of spontaneous order relies on faith in the workings of the market, and submission to unintelligible market forces. (shrink)

It is a commonplace that the writers of eighteenth century Scotland played a key role in shaping the early practice of social science. This paper examines how this ‘Scottish’ contribution to the Enlightenment generation of social science was shaped by the fascination with unintended consequences. From Adam Smith's invisible hand to Hume's analysis of convention, through Ferguson's sociology, and Millar's discussion of rank, by way of Robertson's View of Progress, the concept of unintended consequences pervades the writing of (...) the period. The paper argues that the idea of unintended order shapes the understanding of the purpose of theoretical social science that emerges from the Scottish Enlightenment. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:David Hume to Alexander Dick: A New Letter Heiner Klemme Hume's letter to the well-known physician and sometime President of the Edinburgh Royal College of Physicians, Sir Alexander Dick (formerlyCunningham)(1703-1785),1 belongs toa series ofinteresting letters written by philosophers and historians of the Scottish Enlightenment to be found in the autograph-collection of the German chemist and historian of science Ludwig Darmstaedter (1846-1927). Although a catalogue has been published (...) which lists the items ofhis collection in 1909, some of its autographs have not been noticed by scholars. The only hitherto known letter from Hume to Dick was written in August 1760. However, Hume mentions Dick once in a letter of 1762. Although the letter of 1771 listed below does not contribute in any specific way to our knowledge of their relationship, it might be of general interest to students ofHume.?. Staatsbibliothek Preußischer Kulturbesitz Berlin (West) Signature: Sammlung Darmstaedter, 2a 1748 (1) [Address:] To Sir Alexander Dick Bar1 Dear Sir This will be deliverdtoyoubyMrPanton,5 whogoes offthe Endof this Week, to New York. I have us'd the Freedom ofintroducing him to you, both as he is a young Man of Merit, and as I thought it probable you might take the Oppertunity of writing to your Friend, Mr Smith, by so good ahand. Ifyou do, I shoudbegofyou to recommend the young Gentlemen to his Acquaintance; and you may safely mention him as a Man of Letters and a Man of Character. He is to settle in New York, and it is impossible but he must get acquainted with Mr Smith; but a Recommendation from so good an Authority as Yours, wou'd serve to Volume XVI Number 2 87 HEINER KLEMME [crossedout: probably]forwardtheirgood Correspondence, andconnect them much sooner with each other. I am Dear Sir Your most obedient and most humble EdinburghServant 18 of March 1771David Hume Philipps-Universität Marburg, F.R.G. 1.For details ofhis life and work see Leslie Stephen, ed., Dictionary ofNational Biography, Vol. 15 (London, 1888), 14a-14b. 2.Ludwig Darmstaedter, Verzeichnis der Autographensammlung (Berlin, 1909), esp. 167. The collection includes the very firstletter Hume wrote in March 1755 to Andrew Strahan, his printer. See my "'And Time does Justice to All the World': Ein unveröffentlichter Brief von David Hume an William Strahan," Journal of the History of Philosophy, forthcoming. Two further letters of Adam Smith to Thomas Cadell are to be published in Archiv für Geschichte derPhilosophie. 3.See R. Klibansky and E. C. Mossner, eds., New letters ofDavid Hume (Oxford, 1954; reprint, New York, 1983), 58-64. 4.See New Letters (above,?. 3), 68. 5.I have not been able to verify the identity ofthis person nor ofthe Mr. Smith mentioned below. 88Hume Studies... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:David Hume to Alexander Dick: A New Letter Heiner Klemme Hume's letter to the well-known physician and sometime President of the Edinburgh Royal College of Physicians, Sir Alexander Dick (formerlyCunningham)(1703-1785),1 belongs toa series ofinteresting letters written by philosophers and historians of the Scottish Enlightenment to be found in the autograph-collection of the German chemist and historian of science Ludwig Darmstaedter (1846-1927). Although a catalogue has been published (...) which lists the items ofhis collection in 1909, some of its autographs have not been noticed by scholars. The only hitherto known letter from Hume to Dick was written in August 1760. However, Hume mentions Dick once in a letter of 1762. Although the letter of 1771 listed below does not contribute in any specific way to our knowledge of their relationship, it might be of general interest to students ofHume.?. Staatsbibliothek Preußischer Kulturbesitz Berlin (West) Signature: Sammlung Darmstaedter, 2a 1748 (1) [Address:] To Sir Alexander Dick Bar1 Dear Sir This will be deliverdtoyoubyMrPanton,5 whogoes offthe Endof this Week, to New York. I have us'd the Freedom ofintroducing him to you, both as he is a young Man of Merit, and as I thought it probable you might take the Oppertunity of writing to your Friend, Mr Smith, by so good ahand. Ifyou do, I shoudbegofyou to recommend the young Gentlemen to his Acquaintance; and you may safely mention him as a Man of Letters and a Man of Character. He is to settle in New York, and it is impossible but he must get acquainted with Mr Smith; but a Recommendation from so good an Authority as Yours, wou'd serve to Volume XVI Number 2 87 HEINER KLEMME [crossedout: probably]forwardtheirgood Correspondence, andconnect them much sooner with each other. I am Dear Sir Your most obedient and most humble EdinburghServant 18 of March 1771David Hume Philipps-Universität Marburg, F.R.G. 1.For details ofhis life and work see Leslie Stephen, ed., Dictionary ofNational Biography, Vol. 15 (London, 1888), 14a-14b. 2.Ludwig Darmstaedter, Verzeichnis der Autographensammlung (Berlin, 1909), esp. 167. The collection includes the very firstletter Hume wrote in March 1755 to Andrew Strahan, his printer. See my "'And Time does Justice to All the World': Ein unveröffentlichter Brief von David Hume an William Strahan," Journal of the History of Philosophy, forthcoming. Two further letters of Adam Smith to Thomas Cadell are to be published in Archiv für Geschichte derPhilosophie. 3.See R. Klibansky and E. C. Mossner, eds., New letters ofDavid Hume (Oxford, 1954; reprint, New York, 1983), 58-64. 4.See New Letters (above,?. 3), 68. 5.I have not been able to verify the identity ofthis person nor ofthe Mr. Smith mentioned below. 88Hume Studies... (shrink)

A compact and accessible edition of Hume’s political and moral writings with essays by a distinguished set of contributors A key figure of the Scottish Enlightenment, David Hume was a major influence on thinkers ranging from Kant and Schopenhauer to Einstein and Popper, and his writings continue to be deeply relevant today. With four essays by leading Hume scholars exploring his complex intellectual legacy, this volume presents an overview of Hume’s moral, political, and social philosophy. Editors Angela Coventry (...) and Andrew Valls bring together a selection of writings from Hume’s most important works, with contributors placing them in their appropriate context and offering a lively discourse on the relevance of Hume’s thought to contemporary subjects like reason’s dependence on emotion and the importance of social convention in political and economic behavior. Perfect for classroom use, this volume is an invaluable companion for anyone studying an important thinker who advanced the development of moral philosophy, economics, cognitive science, and many other fields of the Western tradition. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:154, DAVID HUME'S PRACTICAL ECONOMICS As Professor Eugene Rotwein emphasized in his introduction to David Hume: Writings on Economics (Madison, 1955), the philosopher made his observations on the eve of the industrial revolution in a period of accelerating change. Very often — as in the latter half of the seventeenth century — times of flux and turmoil call forth Utopian thinkers, who propose the creation (...) of hierarchical, communal, authoritarian societies, often patterned after a supposed golden 2 age. Hume emphatically rejected Utopian schemes of this kind. "All plans of government which suppose great reformation in the manners of mankind," he said, 3 "are plainly imaginary." He repeatedly warned as well that "projectors" and visionaries would disrupt the balance in government between liberty and authority. Thus he could speak of or make reference to "the visionary system or ravings of Plato" (in The Republic), the ultimate impracticality of More's Utopia and James Harrington's The Commonwealth of Oceana, and the absurdity of Robert Wallace's theories on 4 population and the paper money schemes of John Law. Even the Utopian republics of Andrew Fletcher of Saltoun, the Scottish patriot whom Hume admired as "a man of undaunted courage and inflexible principles," were dismissed with the others on practical grounds. The key word we have extracted from Hume's economics is practicality. Much as Hume would have liked to have designed an empirical "science of man" — which, incidentally, would have permitted him to propose his own infallible scheme of political economy — he realized that his own attempts had fallen far short of his goal. Thus his nine essays devoted especially to economics: "Of Commerce," "Of Refinement 155. in the Arts," "Of Money," "Of Interest," "Of the Balance of Trade," "Of the Jealousy of Trade," "Of Taxes," "Of Public Credit," and "Of the Populousness of Ancient Nations," are cautious in approach and pragmatic in spirit. Most of these essays were specifically designed to challenge prevailing assumptions and Utopian grand schemes of one sort or another. In "Of Commerce," for example, Hume rejects the idea that a nation can achieve greatness as an agricultural utopia. In "Of Refinement in the Arts" he takes issue with certain religious thinkers who 7 denote luxury as evil. In "Of Money" he is critical of those who believe that an injection of money into O the economy will work long-term wonders, and in "Of Interest" he argues with those who reason that the 9 plenty of money leads to low interest rates. "Of the Balance of Trade" and "Of the Jealousy of Trade" are directed against the protectionist policies of the mercantilists, "Of Taxes" rejects the French physiocratic single tax on land, and "Of Public Credit" deplores the expedients of Lord Oxford's partisans to draw bills on posterity and imprudently 12 use public credit to create paper riches. Finally, he addressed his essay, "Of the Populousness of Ancient Nations" to a refutation of the doomsday thinking of 13 the Reverend Robert Wallace of Edinburgh. This is not to imply, however, that Hume's economic thought was merely negative, or that he believed governments could safely entrust their powers over the economy to an "invisible hand." Even Hume's advocacy of free trade (which his friend and pupil Adam Smith, of course, applied with less caution) left the government with room to maneuver. Hume was willing to employ both the market and authority in designs for human progress. In seeking his mix of "action, 156. consumption, liveliness and indolence," a contradictory, counter-poised economic actor, the individual, was not a simple pleasure maximizer, nor did the acquisition of wealth and luxury make him a villain. He was a person in whom the complex springs of action, the causes of labour, needed first one, now another counter-weight. Society benefited from both 14 free trade and from tariff. Hume believed that industrial development and the advancement of commerce were the springboards to progress and happiness. Less is less and more is more; Hume never got these simple verities mixed up. "The same age," he said, "which produces great philosophers and politicians, renowned generals and poets, usually abounds with skillful weavers, and ship-carpenters.... The spirit of the age... (shrink)

This paper forms part of a research project investigating conceptions of the relationship between micro-level self-seeking agent behaviour and the desirability or otherwise of the resulting macro-level social outcomes in the history of economics. I identify two kinds of conservative rhetorical strategy, characterised by reductionism, and by holism plus an invisible hand mechanism, respectively. The present paper extends this study to Malthus, focusing on the various editions of his Essay on Population and his Summary View of the Principle of (...) Population. Like the reductionist (Friedman, Lucas) and holistic (Smith, Hayek) proponents of laissez-faire, Malthus, too, is a defender of ‘the present order of things’ and an advocate of dependence on spontaneous forces. Malthus starts out within the eighteenth-century providentialist paradigm epitomised by Adam Smith and Dugald Stewart, but he later abandoned providentialism, adopting a more reductionist standpoint. Like Smith and Stewart, he takes a conservative political stance and opposes radical reform of society. But in taking up the arguments of the leading reformers of the day, Godwin and Condorcet, he is drawn by the logic of his argument to a position very far removed from Smith’s stoic optimism. The weapon he deploys against the reformers is the principle of population, by means of which he is able to portray the present state of society as something natural, eternal and inevitable, something in common with the animal and vegetable kingdoms. Though a potent weapon against the utopians, at the same time the principle of population undermines providentialism In the First Essay he tries to mitigate this by presenting a theodicy to reconcile his theory with a version of providentialism, but within weeks of publication he begins work on its replacement, a secular and reductionist argument that individual self-interest can guide us to socially desirable outcomes. (shrink)

In this brief review it is not possible to do full justice to this lively and lucidly presented study. It is fair to say, I think, that the considerable merits of this work rest primarily with its intelligent and reliable selection of material, most of which is already available and familiar. This study does not aim to challenge any orthodoxies or present new material of some significant kind. Rasmussen does not need to do this since his real concern is to (...) tell a story about two great thinkers in an engaging manner – a task which he achieves with great success. This is a book that scholars will thoroughly enjoy and appreciate and which will also find many appreciative readers well beyond these boundaries. (shrink)

In The Infidel and the Professor: David Hume, Adam Smith, and the Friendship That Shaped Modern Thought, Dennis Rasmussen reminds us that ‘Hume believed that “the first Quality of an Historian is to be true & impartial; the next to be interesting”’ (p. 72). Rasmussen meets both criteria in his history of the friendship of Hume and Smith, two luminaries of the Scottish Enlightenment. The Infidel and the Professor lays out the facts carefully, showing both the depth (...) of Hume and Smith’s warmth and respect for each other as well as the extent of their shared intellectual interests and mutual influence. But while he is ‘true & impartial,’ just as Hume would want, Rasmussen also tells a lively and engrossing story. In a well-paced and beautifully written narrative, he demonstrates the same wit and genuine affection for his subjects that he proves characterized their relationship. (shrink)

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts (...) of F. A. Hayek. (shrink)

The dissertation concerns F. A. Hayek’s critique of legislation. The purpose of the investigation is to clarify and assess that critique. I argue that there is in Hayek’s work a critique of legislation that is distinct from his well-known critique of social planning. Further that the main claim of this critique is what I refer to as Hayek’s legislation tenet, namely that legislation that aims to achieve specific aggregate results in complex orders of society will decrease the welfare level. The (...) legislation tenet gains support; from the welfare claim – according to which there is a positive correlation between the utilization of knowledge and the welfare level in society; from the dispersal of knowledge thesis – according to which the total knowledge of society is dispersed and not available to any one agency; and from the cultural evolution thesis – according to which evolutionary rules are more favorable to the utilization of knowledge in social cooperation than are legislative rules. More specifically, I argue that these form two lines of argument in support of the legislation tenet. One line of argument is based on the conjunction of the welfare claim and the dispersal of knowledge thesis. I argue that this line of argument is true. The other line of argument is based on the conjunction of the welfare claim and the cultural evolution thesis. I argue that this line of argument is false, mainly because the empirical work of political scientist Elinor Ostrom refutes it. Because the two lines of argument support the legislation tenet independently of each other, I argue that Hayek’s critique of legislation is true. In this dissertation, I further develop a legislative policy tool as based on the welfare claim and Hayek’s conception of coercion. I also consider Hayek’s idea that rules and law are instrumental in forging rational individual action and rational social orders, and turn to review this idea in light of the work of experimental economist Vernon Smith and economic historian Avner Greif. I find that Smith and Greif support this idea of Hayek’s, and I conjecture that it contributes to our understanding of Adam Smith’s notion of the invisible hand: It is rules – not an invisible hand – that prompt subjects to align individual and aggregate rationality in social interaction. Finally, I argue that Hayek’s critique is essentially utilitarian, as it is concerned with the negative welfare consequences of certain forms of legislation. And although it may appear that the dispersal of knowledge thesis will undermine the possibility of carrying out the utilitarian calculus, due to the lack of knowledge of the consequences of one’s actions – and therefore undermine the legislation tenet itself – I argue that the distinction between utilitarianism conceived as a method of deliberation and utilitarianism conceived as a criterion of correctness may be used to save Hayek’s critique from this objection. (shrink)

The philosophical friendship between David Hume and Adam Smith spanned almost thirty years and influenced several of the greatest productions of the Scottish Enlightenment, but it has never before been the subject of a book-length study. Rasmussen’s accessible account of the friendship between Hume and Smith remedies this and tells an engaging story about these two “dearest” friends.Rasmussen’s story unfolds chronologically, with each chapter focusing largely on either Hume or Smith. The major events of their friendship are (...) dutifully covered, including their respective journeys to France, and Hume’s controversial quarrel with Rousseau; but Rasmussen’s focus is on tracing their relationship and how that... (shrink)

Hayek argued that the central question of economics is the coordination problem: How does the spontaneous interaction of many purposeful individuals, each having dispersed bits of subjective knowledge, generate an order in which the actors' subjective data are coordinated in a way that enables them to dovetail their plans and activities successfully? In attempting to solve this problem, Hayek outlined an approach to economic theorizing that takes seriously the limited, subjective nature of human knowledge. Despite purporting to have (...) appropriated Hayek's thought by acknowledging the information-transmitting role of prices, mainstream economists have missed Hayek's point. The predominant tool of formal economics—equilibrium analysis—begins by assuming the data held by actors to have been pre-reconciled, and so evades the problem to be solved. Even the more advanced tools for modeling knowledge in economic analysis, such as the economics of information, assume away either the subjectivism of knowledge and expectations (rendering the coordination of beliefs and plans a trivial matter) or the frictions and “imperfections” of reality (rendering the coordination problem indeterminate). (shrink)

Adam Smith studied under Francis Hutcheson at the University of Glasgow, befriended David Hume while lecturing on rhetoric and jurisprudence in Edinburgh, was elected Professor of Logic, Professor of Moral Philosophy, Vice-rector, and eventually Lord Rector of the University of Glasgow, and, along with Hutcheson, Hume, and a few others, went on to become one of the chief figures of the astonishing period of learning known as the Scottish Enlightenment.He is the author of two books: The Theory (...) of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. TMS brought Smith considerable acclaim during his lifetime and was quickly considered one of the great works of moral theory. It deeply impressed Immanuel Kant, for example, who called Smith his ‘ Liebling ' or ‘favourite', and Charles Darwin, who in his Descent of Man endorsed and accepted several of Smith's ‘striking' conclusions. TMS went through fully six revised editions during Smith's lifetime.Since the nineteenth century, Smith's fame has largely rested on his Wealth of Nations, which must be considered one of the most important works of the millennium: its argument for free trade, its explanation of the price mechanism and the division of labor, its qualified defense of market economies, and its powerful criticisms of mercantilist economic theories are now standard fare in economics courses, not to mention the basis of a large portion of today's worldwide economic policy. And its account of human nature is now classic.Both The Theory of Moral Sentiments and the Wealth of Nations reveal Smith's impressively broad learning, but he wrote and lectured on a number of other subjects as well. This anthology collects, for the first time in one volume, not only generous selections from each of Smith's books but also substantial selections from his other work, including his lectures on jurisprudence, his history and philosophy of science, his criticism and belles lettres, and his philosophy of language. It also includes two important letters from Hume, as well as Smith's account of Hume's death.James R. Otteson is associate professor of philosophy at the University of Alabama. He has published on Adam Smith and the Scottish Enlightenment, political philosophy, and the history of early modern philosophy. (shrink)

This paper discusses Adam Smith’s intellectual relationship with the French Enlightenment, with a particular focus on his view of French culture as conveyed in The Theory of Moral Sentiments. Compared to England at that time, eighteenth-century Scotland is considered as having a closer affiliation with France in terms of their intellectual and cultural life during what has been dubbed the Enlightenment. While David Hume was representative of the affinity between the French and Scottish literati, Smith also held (...) an enduring interest in the French philosophy, literature, and other aspects of its civilisation, long before the historic visit to Toulouse and Paris that would shape his political economy greatly. While this paper shall examine Smith’s Francophile and Europeanist tendency within his moral argument, it also emphasises that he was abundantly aware of the moral cultural tensions between these two branches of the European Enlightenment. (shrink)

This thesis studies the development of empiricist Scottish moral philosophy from its origins in the work of Gershom Carmichael through the works of Francis Hutcheson, David Hume, and Adam Smith. Impressed by the successes of the new sciences, particularly Newtonian science, these philosophers each sought to bring this modern scientific method to bear upon the pursuit of moral theory. By tracing the development of moral philosophy through these four authors, we find important changes in how they understand (...) the questions, methodology, aim, and even the very nature of moral philosophy. ;Carmichael introduced this tradition to Scotland by rejecting then current moral philosophies. In their stead, he introduced a conception of moral philosophy as empirically derived natural law. ;Seeking to mirror not only Newton's method but also, by analogy, Newton's results, Hutcheson argued that the moral world was structured by a divinely designed balance between the powerful but opposing forces of benevolence and self-interest. ;Next, Hume felt that religious belief was not only philosophically unjustifiable, but also practically harmful. He sought, therefore, to change moral theory by rendering it entirely secular. Furthermore, he aimed to change moral practices by rejecting the religious-grounded, personally and socially harmful 'monkish' virtues, and rehabilitating pride as a virtue rather than a vice. ;Finally, Smith was distrustful of such grand schemes. Arguing that philosophy is not so much the discoverer of truth as the fabricator of truth, Smith sought to woo men away from outmoded moral schemes, and to lead them to trust in their natural moral sentiments. This, Smith believed, was the most effective and beneficial way of leading men, as social beings, into the modern, commercial society. The only real areas in which moral philosophy can constructively offer concrete contributions are jurisprudence and political economy. ;In conclusion, we should understand that moral philosophy changes its complexion from time to time and place to place. Accepting this can be a step towards questioning our own preconceptions of what moral philosophy is or should be. (shrink)

The Cambridge Companion to the Scottish Enlightenment offers a philosophical perspective on an eighteenth-century movement that has been profoundly influential on western culture. A distinguished team of contributors examines the writings of David Hume, Adam Smith, Thomas Reid, Adam Ferguson, Colin Maclaurin and other Scottish thinkers, in fields including philosophy, natural theology, economics, anthropology, natural science and law. In addition, the contributors relate the Scottish Enlightenment to its historical context and assess its impact (...) and legacy in Europe, America and beyond. The result is a comprehensive and accessible volume that illuminates the richness, the intellectual variety and the underlying unity of this important movement. It will be of interest to a wide range of readers in philosophy, theology, literature and the history of ideas. (shrink)

Deductive Irrationality examines and critiques economic rationalism by assessing the work of influential political philosophers and economic theorists such as Thomas Hobbes, John Locke, Adam Smith, Friedrich Hayek, Gunnar Myrdal, and John F. Muth. It is one of the first serious attempts to investigate the dominant sub-fields in economic theory through the lens of political philosophy.

Why did Hume drop sympathy as a key concept of his moral philosophy, and why—on the other hand—did Smith make it into the ‘didactic principle’ of his Theory of Moral Sentiments? These questions confront us with the basic issue of ethical theory concerning human nature. My point in dealing with these questions is to show what views of human nature their respective choices involved. And my procedure will be to take a close look at the revisions they made to their (...) ethical theories to bring out the contrasting aspects of their views of human nature. (shrink)

Explores the impact of Enlightenment philosophers in Scotland on the development of sociology The first collection to look at the significance of the Scottish Enlightenment for sociological thought, this book explores how and what sociological ideas were developed during this period. It also analyses how the ideas of the Scottish Enlightenment would emerge and develop in subsequent traditions of sociology. Scottish Enlightenment thinkers developed and refined a descriptive-explanatory approach and methodology to explore social and economic processes, an (...) approach that was different from the normative and justificatory aspirations of 17th- and 18th-century social and political philosophies. This distinct contribution of the Scottish Enlightenment is frequently overlooked, even if some of its central figures - Adam Ferguson, David Hume, Adam Smith, to name but three - are acknowledged as important forerunners of contemporary social sciences. This book offers both a synoptic perspective on individual contributions and a connective view of theoretical achievements that are otherwise typically treated in isolation. Tamás Demeter is Professor of Philosophy at the Corvinus University of Budapest and Senior Research Fellow at the HUN-REN Research Centre for the Humanities, Budapest. (shrink)

This collection of essays provides a comprehensive view of the economic thought of the Scottish Enlightenment. Organized as a chronological account of the rise and progress of political economy in eighteenth century Scotland, each chapter discusses the way in which the moral and economic improvement of the Scottish nation became a common concern. Contributors not only explore the economic discourses of David Hume, James Steuart and Adam Smith but also consider the neglected economic writings of Andrew (...) Fletcher, Robert Wallace, Francis Hutcheson, William Robertson, John Millar and Dugald Stewart. This book addresses the question of how these economic writings interacted with the moral, political and historical arguments of the time and shows how contemporary issues related to the union with England, natural jurisprudence, classical republicanism and manners and civilization all contained an economic dimension. Key chapters include: The ancient modern controversy in the Scottish Enlightenment The 'Scottish Triangle' in the shaping of political economy: David Hume, Sir James Steuart and Adam Smith Civilization and history in Lord Kames and William Robertson Adam Smith in Japan This view of the origin of economic science in Britain is markedly different from traditional accounts and will be of interest to economic, political and social historians. (shrink)

Institutions are the formal or informal 'rules of the game' that facilitate economic, social, and political interactions. These include such things as legal rules, property rights, constitutions, political structures, and norms and customs. The main theoretical insights from Austrian economics regarding private property rights and prices, entrepreneurship, and spontaneous order mechanisms play a key role in advancing institutional economics. The Austrian economics framework provides an understanding for which institutions matter for growth, how they matter, (...) and how they emerge and can change over time. Specifically, Austrians have contributed significantly to the areas of institutional stickiness and informal institutions, self-governance and self-enforcing contracts, institutional entrepreneurship, and the political infrastructure for development. (shrink)

David Hume, Adam Smith, William Robertson, Adam Ferguson, Lord Kames, John Millar, James Dunbar and Gilbert Stuart were at the heart of Scottish Enlightenment thought. This introductory survey offers the student a clear, accessible interpretation and synthesis of the social thought of these historically significant thinkers. Organised thematically, it takes the student through their accounts of social institutions, their critique of individualism, their methodology, their views of progress and of moral and cultural values. By taking human (...) sociality as their premise, the book shows how they produced important analyses of historical change, politics and morality, together with an assessment of their own commercial society. (shrink)

David Hume's sympathetic principle applies to physical equals. In his account, we sympathize with those like us. By contrast, Adam Smith's sympathetic principle induces equality. We consider Hume's “other rational species” problem to see whether Smith's wider sympathetic principle would alter Hume's conclusion that “superior” beings will enslave “inferior” beings. We show that Smith introduces the notion of “generosity,” which functions as if it were Hume's justice even when there is no possibility of contract.

This paper places Adam Smith within the long republican tradition, and offers an emancipatory reflection on the possible space of republican freedom within societies that harbour certain degrees of market activity. In doing so, it seeks to offer some criteria on the kind of political-institutional action that can be taken in modern societies in order to constitute markets that respect, and even promote, republican freedom. The paper is divided into four sections. Section 1 shows why Adam Smith's ethical-political (...) analysis, which was very influential in the shaping of classical political economy, can be presented as part of the broad republican tradition. Section 2 reflects on the possibilities for a realisation of republican freedom within markets. What I call 'commercial republicanism' is here analysed as a project for modern societies. Section 3 assesses the difficulties for commercial republicanism to unfold within capitalist societies, the structural features of which prevent individuals and groups from enjoying the kind of undominated social relations the republican tradition has always pleaded for. Finally, section 4 draws some conclusions on the epistemic and political meanings of commercial republicanism as an emancipatory project for contemporary societies. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:The Cambridge Companion to the Scottish EnlightenmentJames A. HarrisAlexander Broadie, editor. The Cambridge Companion to the Scottish Enlightenment. Cambridge-New York: Cambridge University Press, 2003. Pp. xvi + 366. Cloth, $65.00.A Cambridge Companion can be expected to attempt to do two different things at the same time: to provide a clear and concise introduction to the existing scholarly literature on all the principal topics discussed by the (...) philosopher or school of philosophy to which the Companion is devoted; and to advance the discussion in ways that will be of interest to those already working in the field. Alexander Broadie's Cambridge Companion to the Scottish Enlightenment succeeds admirably at both tasks. Excellent introductions are provided to eighteenth-century Scottish writing on religion, the philosophy of mind and its engagement with scepticism, the history of the human species and the basis of human sociability, mathematics and natural science, moral philosophy, political philosophy and theories of justice, economic theory, legal theory, historiography, and aesthetics. In the process, familiar figures such as Hutcheson, Hume, Smith, Robertson and Reid are placed amid a huge range of writers no longer very often taught at the undergraduate level, and the result provides a rich resource for those who want to begin to broaden and deepen textbook accounts of what was achieved in Scotland during le Siècle des lumières. In fact, as a single-volume introduction to the wealth of ideas bestowed to posterity by the Scottish Enlightenment, this book has no serious competition. It is almost entirely free of the overblown rhetoric and blatant chauvinism characteristic of some recently published accounts of what the Scots contributed to the modern world.In addition, many of the chapters contain information and arguments that will stimulate and sometimes provoke those who need no introduction to the Scottish Enlightenment. M. A. Stewart, for example, reminds us how easy it is to exaggerate the damage Hume did to religious belief in his own time. His Scottish contemporaries did their best to minimize Hume's impact and to downplay his significance; and, Stewart shows, for the most part they succeeded. Aaron Garrett describes the various ways, some rather less-than-enlightened, in which historians used animals, women, and racial difference in order "to get at the original of man." The editor of the volume takes important steps toward placing Scottish writing on the arts and aesthetic judgment in the context of what he terms "the general [End Page 479] programme of improvement that characterised the Scottish Enlightenment from its earliest days" (295).In his Preface, Alexander Broadie sets out three rival large-scale interpretations of the Scottish Enlightenment considered as a whole: one that gives priority to political economy and the disciplines which form its intellectual foundation (moral philosophy, jurisprudence, and the historical study of social institutions); another which sees the cultivation of mathematics and the natural sciences as central to the process of enlightenment in Scotland; and a third which portrays the Scottish Enlightenment as being a cultural phenomenon as much as a purely intellectual one, using just enough of both the "political economic" interpretation and the "natural scientific" interpretations as is necessary to understand how the Scottish "literati" worked within and transformed the institutions that shaped the Scotland of their day: the law, the Kirk, and the universities. My judgment is that the reader of this volume will find himself leaning toward the first of these three approaches. This is partly because the chapters both on the disciplines on which political economy was built and on economics itself are the strongest in the book: Fania Oz-Salzberger on political theory, Knud Haakonnsen on natural jurisprudence, Andrew Skinner on economics, John Cairns on legal theory, and Christopher Berry on "sociality and socialisation". Ironically, perhaps, these chapters work so well because they build on a brilliant account of "The Contexts of the Scottish Enlightenment" provided by one of the chief exponents of the "natural scientific" approach, Roger Emerson.Broadie claims that it is "arguable that science is crucially important to the Scottish Enlightenment, perhaps more important than were moral philosophy, historiography and political economy" (4). It is to be regretted, then, that so little space... (shrink)

Preface Introduction Christopher J. Berry: Adam Smith: Outline of Life, Times, and Legacy Part One: Adam Smith: Heritage and Contemporaries 1: Nicholas Phillipson: Adam Smith: A Biographer's Reflections 2: Leonidas Montes: Newtonianism and Adam Smith 3: Dennis C. Rasmussen: Adam Smith and Rousseau: Enlightenment and counter-Enlightenment 4: Christopher J. Berry: Adam Smith and Early Modern Thought Part Two: Adam Smith on Language, Art and Culture 5: Catherine Labio: Adam Smith's Aesthetics 6: James (...) Chandler: Adam Smith as Critic 7: Michael C. Amrozowicz: Adam Smith: History and Poetics 8: C. Jan Swearingen: Adam Smith on Language and Rhetoric: The Ethics of Style, Character, and Propriety Part Three: Adam Smith and Moral Philosophy 9: Christel Fricke: Adam Smith: The Sympathetic Process and the Origin and Function of Conscience 10: Duncan Kelly: Adam Smith and the Limits of Sympathy 11: Ryan Patrick Hanley: Adam Smith and Virtue 12: Eugene Heath: Adam Smith and Self-Interest Part Four: Adam Smith and Economics 13: Tony Aspromourgos: Adam Smith on Labour and Capital 14: Nerio Naldi: Adam Smith on Value and Prices 15: Hugh Rockoff: Adam Smith on Money, Banking, and the Price Level 16: Maria Pia Paganelli: Commercial Relations: from Adam Smith to Field Experiments Part Five: Adam Smith on History and Politics 17: Spiros Tegos: Adam Smith: Theorist of Corruption 18: David M. Levy & Sandra J. Peart: Adam Smith and the State: Language and Reform 19: Fabrizio Simon: Adam Smith and the Law 20: Edwin van de Haar: Adam Smith on Empire and International Relations Part Six: Adam Smith on Social Relations 21: Richard Boyd: Adam Smith, Civility, and Civil Society 22: Gavin Kennedy: Adam Smith on Religion 23: Samuel Fleischacker: Adam Smith and Equality 24: Maureen Harkin: Adam Smith and Women Part Seven; Adam Smith: Legacy and Influence 25: Spencer J. Pack: Adam Smith and Marx 26: Craig Smith: Adam Smith and the New Right 27: Tom Campbell: Adam Smith: Methods, Morals and Markets 28: Amartya Sen: The Contemporary Relevance of Adam Smith. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:110 DAVID HUME'S INVISIBLE HAND IN THE WEALTH OF NATIONS THE PUBLIC CHOICE OF MORAL INFORMATION Introduction The thesis I shall defend is that there are systematic aspects of Adam Smith's economics which make little sense when read in isolation from a literature in which David Hume provides the signal contributions. Consequently, parts of Hume's own work are stripped of meaning, isolated as they are (...) from later developments. The puzzles about Smith's analysis which I find illuminated by Hume's are the following: 1. Why does Smith both defend the importance of economic growth for the material of well-being of the working class and claim that property originates as spoil, impoverishing the working class? After all, in the classical system the existence of property is one requisite for economic growth. 2. Why does Smith exalt the assumption of self-interested behavior in private activity but claim that irrationality dominates the political process? 3. Why does Smith deny the importance of benevolence in Wealth of Nations and insist on the importance of morality Sentiment morality in Theory of Moral its?3 The three questions have a common feature: they are related to the question of how public goods are provided. The particular public good in question is the institution of private property. As with all true I am obligated to the Center for Study of Public Choice for generous support of my research. Suzanne Levy gets the credit for the extent to which this approaches English. I have benefited from acute comments from Charles Rowley and Charles Griswold. The errors and obscurities which remain are solely my responsibility. Ill public goods, society considered as a whole benefits from having such an institution, but each individual considered separately can gain by anti-social behavior.4 Public goods provide a considerable difficulty for any social institution; neither competition in the market nor government requests that individuals reveal how much they wish to be taxed are certain to be efficient. There are aspects of the classical economic analysis which stress the importance of moral information as a partial solution to the public goods problem. By "moral information" I only require that the theory is employed as a guide and that if an individual acts contrary to the theory, this choice is not cited as "falsifying" the theory. Rather, something is said to be "wrong" or "wicked" about the choice.6 Much of modern economic analysis assumes that individuals have perfect information; this postulate rules out any significant role for moral information in the provision of the public goods. To avoid assuming away such a role for morality, we will drop the perfect information assumption and then examine if we can make sense of the classics' attack on the public goods problem. Of course, the specification that individuals see their own interests very poorly is consistent with Smith's general approach. The technique employed below is to look at the issue which Hume and Smith addressed as a problem in modern economics. The key difficulty is to determine under what conditions moral information could guide individuals with very imperfect perceptions to maximize their utility. In particular, suppose we find that moral guidance tells an individual how efficiently to produce. Is this morality self-enforcing or are resources required to persuade people to act in accord with these teachings? If resources are required, we will not pay much attention to just how this persuasion 112 is provided, e.g., whether we tell people that theft is "evil" or whether we hang a few thieves. General production theory tells us we probably will do both, but this is a separate issue. The argument to be advanced is that moral information has self-enforcement properties in private activities but these properties are missing in public activities. In this account, then, real resources will be required for implementing the morality. This consideration in turn raises an interesting issue. If the government expends these resources, what reason is there to believe that they will be provided to serve the public interest and not the interest of the government? Is it possible that the government can prosper by keeping people ignorant or by giving them advice... (shrink)

David Hume and Adam Smith are often regarded as founding fathers of modern social science and champions of self-interested material acquisitiveness. Against this view I argue that their moral and political philosophies are better understood as modern installments in the classical tradition of virtue ethics. By focusing on Hume and Smith's conception of self-love and particularly on their distinction of self-love from self-interest, I demonstrate their dedication to encouraging virtues beyond the instrumental virtues of the market. ;Hume and (...) Smith regard egoism as a natural and inescapable element of human nature, but they also believe that egoism is educable. Untrained egoism manifests itself in such basic forms of selfishness as vanity and ambition, but a properly educated and elevated egoism heightens our sensitivity to the well-being of others. Through a careful analysis of their dialectical rhetoric, I show how Hume and Smith educate the egoism of their readers in their moral works. By so doing I demonstrate that the Scots understood themselves not merely as advocates of the pursuit of wealth, but as moral educators aspiring to introduce their readers to a life beyond the furious pursuit of external goods. Their portraits of magnanimous statesmen and wise and virtuous sages serve as models of this higher life, a life distinguished by the pursuit of moral nobility through beneficent activity. By tracing the Aristotelian and Ciceronian origins of their understanding of the relationship of self-love to benevolence, I thus show that far from celebrating commercial self-interest and denigrating virtue, Hume and Smith draw on classical sources in their attempts to ennoble modern liberalism and encourage decency and respect for the dignity of others. And by focusing particularly on their conception of the proper magnanimity for modernity, that of the wise and virtuous man, I argue that Hume's and Smith's practical writings on history, politics and economics are best regarded as attempts to discharge the beneficent duties they describe in their moral philosophy, and thereby claim wisdom and virtue for themselves. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:A Supplement to: "David Hume to Alexander Dick: A New Letter" Heiner F. Klemme Afterreading Hume'slettertoDick,1 Professor Ian Rosskindlybrought to my attention William R. Brock's book, Scotus Americanus: A survey ofthe sources for links between Scotland and America in the eighteenth century. There is helpful information in Brock's book toidentify the two Scots referred to by Hume in his letter to Sir Alexander Dick. The first ofthese men (...) is likely to be the Reverend George Panton,2 who had been in charge of the Grammar School at Jedburgh in 1769 and had obtained a degree from Marischal College. After becoming a clergyman of the Church of England, he set out for New York to take employment as tutor to the children of a Colonel Philips. He arrived there by June 1773. Hume belonged to a number ofinfluential friends who supported him in his undertaking. In his letter to Dick, Hume asked him to recommend Panton to a certain Mr Smith. This person is probably the Reverend Dr. William Smith,3 an episcopal divine, who was born in Aberdeenshire in 1727. After becoming a tutor to the children ofJosiah Martin, he arrived inNewYork in May 1751. During his short stay he wrote an anonymous pamphlet in which he urged the foundation ofa King's College there. The college came into existence in 1754, changing its name to Columbia University later on. Smith played an important role in the development ofAmerican higher education by promoting the new educational method ofthe Scottish universities. He was appointed to teach logic, rhetoric, ethics, and natural philosophy at Benjamin Franklin's new College of Philadelphia in 1754 and became first Provost of the then University of Pennsylvania a year later. It was Smith who edited and published American Magazine for the first time. Philipps-UniversitätMarburg Heiner Klemme, "David Hume to Alexander Dick: A New Letter," Hume Studies 16, no. 2 (November 1990): 87-88. William R. Brock, Scotus Americanus: A survey ofthe sources for links between Scotland and America in the eighteenth century (Edinburgh, 1982), 42, 107-8. Brock, 111-12. Volume XVII Number 1 87 88Hume Studies... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:A Supplement to: "David Hume to Alexander Dick: A New Letter" Heiner F. Klemme Afterreading Hume'slettertoDick,1 Professor Ian Rosskindlybrought to my attention William R. Brock's book, Scotus Americanus: A survey ofthe sources for links between Scotland and America in the eighteenth century. There is helpful information in Brock's book toidentify the two Scots referred to by Hume in his letter to Sir Alexander Dick. The first ofthese men (...) is likely to be the Reverend George Panton,2 who had been in charge of the Grammar School at Jedburgh in 1769 and had obtained a degree from Marischal College. After becoming a clergyman of the Church of England, he set out for New York to take employment as tutor to the children of a Colonel Philips. He arrived there by June 1773. Hume belonged to a number ofinfluential friends who supported him in his undertaking. In his letter to Dick, Hume asked him to recommend Panton to a certain Mr Smith. This person is probably the Reverend Dr. William Smith,3 an episcopal divine, who was born in Aberdeenshire in 1727. After becoming a tutor to the children ofJosiah Martin, he arrived inNewYork in May 1751. During his short stay he wrote an anonymous pamphlet in which he urged the foundation ofa King's College there. The college came into existence in 1754, changing its name to Columbia University later on. Smith played an important role in the development ofAmerican higher education by promoting the new educational method ofthe Scottish universities. He was appointed to teach logic, rhetoric, ethics, and natural philosophy at Benjamin Franklin's new College of Philadelphia in 1754 and became first Provost of the then University of Pennsylvania a year later. It was Smith who edited and published American Magazine for the first time. Philipps-UniversitätMarburg Heiner Klemme, "David Hume to Alexander Dick: A New Letter," Hume Studies 16, no. 2 (November 1990): 87-88. William R. Brock, Scotus Americanus: A survey ofthe sources for links between Scotland and America in the eighteenth century (Edinburgh, 1982), 42, 107-8. Brock, 111-12. Volume XVII Number 1 87 88Hume Studies... (shrink)

Hayek's substantial contribution to theoretical psychology has been addressed in the work of Thomas Szasz, Gerald Edelman, and Joaquin Fuster.

Communitarian social philosophy was born in opposition to some tenets of liberalism. Liberal individualism has been among its most strongly contested claims. In their criticisms, the communitarians point to the Enlightenment’s sources of the individualist vision of society and morality. The aim of this paper is to demonstrate that, even if the communitarian line of argument has been justified in more than one way, it is at the same time important to remember that the greatest figure of the Scottish (...) Enlightenment, that of of David Hume, does not fit the individualistic picture too well. I shall begin with a contemporary definition of individualism, as defined by John Watkins, then I shall proceed to argue that methodological individualism is rarely an innocent philosophical position, i.e. that it is very often a preliminary step in attempts to find a solution to many other, much more important and more practically relevant issues. For methodological individualism is usually associated with ontological, as well as moral and political individualistic doctrines, and they usually go hand in hand, influencing and strengthening each other. (shrink)

Can we have objective knowledge of the world? Can we understand what is morally right or wrong? Yes, to some extent. This is the answer given by Adam Smith and Edmund Husserl. Both rejected David Hume s skeptical account of what we can hope to understand. But they held his empirical method in high regard, inquiring into the way we perceive and emotionally experience the world, into the nature and function of human empathy and sympathy and the role (...) of the imagination in processes of intersubjective understanding. The challenge is to overcome the natural constraints of perceptual and emotional experience and reach an agreement that is informed by the facts in the world and the nature of morality. This collection of philosophical essays addresses an audience of Smith- and Husserl scholars as well as everybody interested in theories of objective knowledge and proper morality which are informed by the way we perceive and think and communicate.". (shrink)