Propriety and Prosperity: New Studies on the Philosophy of Adam Smith PDF
Preview Propriety and Prosperity: New Studies on the Philosophy of Adam Smith
Archival Insights into the Evolution of Economics This series provides a systematic archival examination of the process by which economics is constructed and disseminated. All the major schools of economics will be subject to critical scrutiny; a concluding volume will attempt to synthe- size the insights into a unifying general theory of knowledge construction and influence. Series Editor: Robert Leeson Titles include: Roger Frantz and Robert Leeson (editor) HAYEK AND BEHAVIORAL ECONOMICS David F. Hardwick and Leslie Marsh (editor) PROPRIETY AND PROSPERITY New Studies on the Philosophy of Adam Smith Robert Leeson (editor) THE KEYNESIAN TRADITION Robert Leeson (editor) AMERICAN POWER AND POLICY Robert Leeson (editor) THE ANTI-KEYNESIAN TRADITION Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part I, Infl uences from Mises to Bartley Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part II, Austria, America and the Rise of Hitler, 1899–1933 Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part III, Fraud, Fascism and Free Market Religion Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part IV, Redirecting World History Forthcoming titles: Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part V, the 1974 Nobel Prize for Economic Sciences Robert Leeson (editor) HAYEK: A COLLABORATIVE BIOGRAPHY Part VI, Mont Pelerin and the Redirection of World History, 1947–1992 Robert Leeson (editor) HAYEK AND THE AUSTRIAN SCHOOL Leslie Marsh and Roger Franz (editor) HERBERT SIMON Archival Insights into the Evolution of Economics Series Standing Order ISBN 978–1–403–99520–9 (hardback) You can receive future titles in this series as they are published by placing a standing order. Please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address, the titles of the series and the ISBN quoted above. Customer Service Department, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire RG21 6XS, England, UK Propriety and Prosperity New Studies on the Philosophy of Adam Smith Edited by David F. Hardwick and Leslie Marsh Selection and editorial matter © David F. Hardwick and Leslie Marsh 2014 Individual chapters © contributors 2014 Foreword © Vernon L. Smith 2014 Softcover reprint of the hardcover 1st edition 2014 978-1-137-32068-1 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2014 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-45778-6 ISBN 978-1-137-32105-3 (eBook) DOI 10.1057/9781137321053 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. Typeset by MPS Limited, Chennai, India. For Gus diZerega and Christian Onof Portrait of Adam Smith by John Kay, 1790 (reproduced courtesy of the Library of Congress) Contents List of Figures ix Foreword by Vernon L. Smith x Acknowledgments xv List of Contributors xvi List of Abbreviations xviii 1 Introduction: Epistemology not Ideology 1 David F. Hardwick and Leslie Marsh Part I Context 2 A dam Smith as a Scottish Philosopher 17 Gordon Graham 3 Friendship in Commercial Society Revisited: Adam Smith on Commercial Friendship 37 Spyridon Tegos 4 Adam Smith and French Political Economy: Parallels and Differences 54 Laurent Dobuzinskis 5 Adam Smith: Eighteenth-Century Polymath 75 Roger Frantz Part II Propriety 6 Indulgent Sympathy and the Impartial Spectator 95 Joshua Rust 7 Adam Smith on Sensory Perception: A Sympathetic Account 118 Brian Glenney 8 Adam Smith on Sympathy: From Self-Interest to Empathy 136 Gloria Zúñiga y Postigo 9 What My Dog Can Do: On the Effect of The Wealth of Nations I.ii.2 147 Jack Russell Weinstein vii viii Contents Part III Prosperity 10 Metaphor Made Manifest: Taking Seriously Smith’s ‘Invisible Hand’ 169 Eugene Heath 11 The ‘Invisible Hand’ Phenomenon in Economics 198 Gavin Kennedy 12 Instincts and the Invisible Order: The Possibility of Progress 223 Jonathan B. Wight 13 Two Invisible Hands: Family, Markets, and the Adam Smith Problem 240 Lauren K. Hall 14 Smith, Justice, and the Scope of the Political 254 Craig Smith Index 275 List of Figures Figures Frontispiece Portrait of Adam Smith by John Kay (courtesy of the Library of Congress, LC-USZ62-101759) 6.1 Parts I and II of the TMS 101 6.2 Three ways to fall short of impartial spectatorship 110 11.1 JSTOR data analysed by Samuels 216 ix
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