Adam Smith: The Theory of Moral Sentiments

The Scottish thinker Adam Smith, one of the leading thinkers of Scottish enlightenment, advocated in his seminal work, The Theory of Moral Sentiments, for the "Induction of Reason" for moral and political judgments; his moral convictions were based upon the virtue of propriety, well being of self and others. His remarkable thesis of Impartial Spectator, "the eye of mankind" posed an opposite point of view from social contractarian approach of Hobbes, Locke, Rousseau, Kant, and Rawls. He was an admirer of comparative approach towards moral and political philosophy. He had global vision for humanity, for he considered social inequality a major problem for non-access of good life and leisure than natural disabilities. Smith's vision of "Self Love" (Wealth of Nation) and "Sympathy" (Moral sentiment) were not contradictory rather one is quoted out of its context. He was concerned with poor and advocated for the self regulation of market.

His thesis of self love or self interest was limited for exchange and not for distribution and production activities. "Butcher and Baker" hypothesis is often quoted in isolation without looking at the complete context. He was one of the propounders of Social Choice theory, later on, Condorcet became its chief voice. Rational choice theory, on the other hand, is limited to self interest. Smith criticized Aristotle and Plato for being silent on the issue infanticide in Greek, and East India Company for their exploitative adventures in India. He never believed in any genetic difference or white superiority thesis, rather defended the Irish for their love of potato and their extreme poverty. Smith liked comparative approach in moral and political decision makings and wanted to ensure all human beings equal and similar. He was a great advocate of impartial spectator for the reason that the local community may be trapped in parochialism. He admired open impartiality instead of a closed one. The moral aspect of economic processes could be seen in his works which is not visible in our time, when market value is instrumental in making moral decisions. He thought that the trust is the crucial factor of economy, for example, negotiable instrument has no value in itself just like gold or silver. Trust and faith are key for the economic processes. Humankind could globally endure the suffering and existential crisis our world is suffering from. Only impartial spectator may help to make an independent judgment, which is usually affected by the blind-spot of insiders. Remember, outside our planet the identity of lives here on Earth is one.

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