The Oxford Handbook of Adam Smith (Oxford Handbooks)

This Handbook provides an accessible survey of the whole of Smith's thought with chapters written by leading experts that will allow all readers to gain a sense of the breadth and depth of the thought of this world historical figure. Cover Table of Contents Abbreviations List of Contributors Introduction Adam Smith: An Outline of Life, Times, and Legacy Smith’s Life (1723–90) Scotland in the age of Smith The Enlightenment: Scotland and beyond Legacy and reputation PART I: ADAM SMITH: HERITAGE AND CONTEMPORARIES 1. Adam Smith: A Biographer’s Reflections 2. Newtonianism and Adam Smith Newtonianism Newton’ s Reception Smith’s Newtonianism Conclusion 3. Adam Smith and Rousseau: Enlightenment and Counter-Enlightenment Spreading ‘enlightenment’ Markets and morals Liberty and citizenship The progress of society 4. Adam Smith and Early-Modern Thought Descartes (1596–1650) Bacon (1561–1626) Hobbes (1588–1679) Locke (1632–1704) Pufendorf (1632–94) Harrington (1611–77) Shaftesbury (1671–1713) and Mandeville (1670–1732) Hutcheson (1694–1746) Conclusion PART II: ADAM SMITH ON LANGUAGE, ART, AND CULTURE 5. Adam Smith’s Aesthetics 'The history of astronomy’, or why the imagination matters ‘Of the external senses’: perception, language, meaning The essay on the imitative arts: the case for disparity The lectures on rhetoric and belles lettres, or why character matters Lectures on jurisprudence, or the institutionalization of art and literature The theory of moral sentiments: aesthetics, ethics, and economics The wealth of nations: (un)productive labour Conclusion 6. Adam Smith as Critic 7. Adam Smith: History and Poetics 8. Adam Smith on Language and Rhetoric: The Ethics of Style, Character, and Propriety Rhetoric and character Language Histories: speech, style, and character Legacies PART III: ADAM SMITH AND MORAL PHILOSOPHY 9. Adam Smith: The Sympathetic Process and the Origin and Function of Conscience Introduction: conscience in the Theory of Moral Sentiments Moral education, the sympathetic process, and naïve moral judgment Conscientious moral self-judgment and the explicit concern for impartiality and praiseworthiness Conscientious moral self-judgment Conscience, virtue, and the problem of erroneous moral judgment The ‘wise and virtuous’ Conclusion 10. Adam Smith and the Limits of Sympathy Authority and utility Imagination Propriety and sympathetic judgment Conclusion 11. Adam Smith and Virtue Smith’s eclectic virtue theory Smith on the ethical virtues Smith on the intellectual virtues The wise and virtuous man and the pursuit of perfection 12. Adam Smith and Self-Interest Self-preservation, selfi shness, and self-interest Self-love and self-interest Self-love and the corruption of moral perception Self-interest and commerce Prudence and ambition PART IV: ADAM SMITH AND ECONOMICS 13. Adam Smith on Labour and Capital Division of labour The concept of capital Capital accumulation and economic development Productive versus unproductive labour Wages and profits Economic policy Legacy 14. Adam Smith on Value and Prices Two meanings of value Real price and real measure of exchangeable value The component parts of price Natural price, market price, and effectual demand 15. Adam Smith on Money, Banking, and the Price Level The money supply The weakness of a fractional reserve banking system Small notes The Ayr Bank and the Crisis of 1772 The real bills doctrine Usury laws The role of the Bank of England Bank regulation: the bottom line Smith’s macroeconomic views Conclusion 16. Commercial Relations: From Adam Smith to Field Experiments Markets fostering morality Morality fostering markets Negative consequences of markets on morality A testable hypothesis Conclusion PART V: ADAM SMITH ON HISTORY AND POLITICS 17. Adam Smith: Theorist of Corruption The butcher, the brewer, and the courtier: the issue of obsequiousness Moderate virtues and obsequiousness Endemic commercial corruption Commercial manners and the corruption of moderate virtues The coxcomb and the poor man’s son Concluding remarks 18. Adam Smith and the State: Language and Reform Does reform make sense in Smith’s system? Reading Smith The texts A necessary scarcity Diffusion of imperative to act justly Leadership and time Time and habit explain the outcome of a political process Reform as social stoicism Conclusion 19. Adam Smith and the Law Rights and law in Smithian jurisprudence The role of justice The anti-utilitarianism and anti-contractualism of Smithian jurisprudence Smith and modern law and economics Conclusion 20. Adam Smith on Empire and International Relations Main influences On empire Smith on international relations Adam Smith and international relations theory PART VI: ADAM SMITH ON SOCIAL RELATIONS 21. Adam Smith on Civility and Civil Society Civil society in Smith’s time and ours The genealogy of ‘civil society’ Civil society and manners Civil society and justice Civil society and citizenship Civil society and the division of labour The ambivalence of civil society Conclusion 22. Adam Smith on Religion Childhood Oxford The significance of his mother A revealing incident in 1785 Religion in Smith’s earliest essay Religion in the wealth of nations Theology in moral sentiments Closing thoughts 23. Adam Smith on Equality Is Smith an egalitarian? Equality in The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations Hierarchy in Th e Th eory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations Varieties of egilatarianism 24. Adam Smith on Women The Wealth of Nations Lectures on jurisprudence Theory of moral sentiments PART VII: ADAM SMITH: LEGACY AND INFLUENCE 25. Adam Smith and Marx Marx’s general attitude towards Smith Value theory Money and capital Character The state and change Conclusion 26. Adam Smith and the New Right The New Right Friedman Buchanan Hayek Hume Conclusion 27. Adam Smith: Methods, Morals, and Markets Methods Morals Markets Conclusion 28. The Contemporary Relevance of Adam Smith Early reception of Smith Uses and abuses of Smith ‘Prodigals’ and ‘projectors’ Smith and the role of the state Smith’s ideas on reasoned choice and rationality Smith on human behaviour Smith on the pursuit of justice Global reasoning in the contemporary world and the impartial spectator A concluding remark Index A B C D E F G H I J K L M N O P Q R S T U V W Z Adam Smith (1723-90) is a thinker with a distinctive perspective on human behaviour and social institutions. He is best known as the author of the An Inquiry into the Nature and Causes of the Wealth of Nations (1776). Yet his work is name-checked more often than it is read and then typically it is of an uninformed nature; that he is an apologist for capitalism, a forceful promoter of self-interest, a defender of greed and a critic of any 'interference' in market transactions. To offset this caricature, this Handbook provides an informed portrait. Drawing on the expertise of leading Smith scholars from around the world, it reflects the depth and breadth of Smith's intellectual interests. After an introductory outline chapter on Smith's life and times, the volume comprises 28 new essays divided into seven parts. Five sections are devoted to particular themes in Smith's corpus - his views on Language, Art and Culture; his Moral Philosophy; his Economic thought, his discussions of History and Politics and his analyses of Social Relations. These five parts are framed by one that focuses on the immediate and proximate sources of his thought and the final one that recognizes Smith's status as a thinker of world-historical significance - indicating both his posthumous impact and influence and his contemporary resonance. While each chapter is a discrete contribution to scholarship, the Handbook comprises a composite whole to enable the full range of Smith's work to be appreciated. Adam Smith (1721-90) is a thinker with a distinctive perspective on human behaviour and social institutions. He is best known as the author of the 'An Inquiry into the Nature' and 'Causes of the Wealth of Nations' (1776). Yet his work is name-checked more often than it is read and then typically it is of an uninformed nature; that he is an apologist for capitalism, a forceful promoter of self-interest, a defender of greed and a critic of any 'interference' in market transactions. To offset this caricature, this 'Handbook' provides an informed portrait. Drawing on the expertise of leading Smith scholars from around the world, it reflects the depth and breadth of Smith's intellectual interests. After an introductory outline chapter on Smith's life and times, the volume comprises 28 new essays divided into seven parts. Five sections are devoted to particular themes in Smith's corpus - his views on Language, Art and Culture; his Moral Philosophy; his Economic thought, his discussions of History and Politics and his analyses of Social Relations