From Vanity to the Love of Systems, from Luxury to the Accumulation of Capital, from the Gaze of Others to the Endless Process

Benoît Walraevens and Daniel Diatkine
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Daniel Diatkine: PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne

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Abstract: It is well known that Book II of the Wealth of Nations (WON) insists on a passion common to all of us, the "desire to better our condition": a desire which, though generally calm and dispassionate, comes with us from the womb, and never leaves us till we go into the grave. This chapter describes focuses on the links between vanity and luxuries in Theory of Moral Sentiments (TMS), studying three chapters in which they play a prominent role. It describes the famous parable of the poor man's son. The chapter also discusses the usual interpretation, which explains the poor man's son behaviour by vanity only. It shows how the love of systems seems to create a bridge between TMS and WON, that is, between luxuries and capital. Satisfying vanity is undoubtedly for Smith the aim of the acquisition of luxuries. More precisely, vanity generates the distinction between luxuries and other goods (necessaries and conveniencies).

Keywords: History of Economic Thought; Philosophy of Social Science (search for similar items in EconPapers)
Date: 2018
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Published in Ragip Ege, Herrade Igersheim. The Individual and the Other in Economic Thought, Routledge, pp.11-25, 2018, 9781138080706

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02063764

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