La Teoría de los Sentimientos Morales y Una investigación sobre la naturaleza y causas de la Riqueza de las Naciones: tropezar dos veces con la misma piedra

Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations: to trip over the same stone twice

Analía Calero

MPRA Paper from University Library of Munich, Germany

Abstract: Adam Smith aimed to reveal the hidden links behind the appearance of the new society that was birthing at that time. In these two books, he stated that a natural order governs everything, and that individuals try to discover this natural order through experience. He argues that the great ends of Nature are self-preservation, the propagation of the species, and harmony. But, can human beings survive in this new society, where the predominant relation is commercial in nature, and benevolence does not prevail as a social cohesion mechanism? This paper aims to shed light on this matter and concludes that the “market breadth” meaning the universality of mercantile relation, makes Smith abandon the law of value and adopt the law of production costs in The Wealth of Nations. In the Theory of the Moral Sentiments, he abandons benevolence as a fundamental principle of social cohesion, and adopts justice. The latter, enforced by the State, will ensure the feasibility of the developing system.

Keywords: B12; B13; B52; D33; D46; D63 (search for similar items in EconPapers)
JEL-codes: B12 D46 D63 (search for similar items in EconPapers)
Date: 2009-10-01
New Economics Papers: this item is included in nep-hpe
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