MC 497: Adam Smith’s Challenge (Wolf)

First published in 1776, the year in which the American Revolution officially began, Smith's WEALTH OF NATIONS sparked a revolution of its own. In it Smith analyzes the major elements of political economy, from market pricing and the division of labor to monetary, tax, trade, and other government policies that affect economic behavior. Throughout he offers seminal arguments for free trade, free markets, and limited government. Criticising mercantilists who sought to use the state to increase their nations' supply of precious metals, Smith points out that a nation's wealth should be measured by the well-being of its people. Prosperity in turn requires voluntary exchange of goods in a peaceful, well-ordered market. How to establish and maintain such markets? For Smith the answer lay in man's social instincts, which government may encourage by upholding social standards of decency, honesty, and virtue, but which government undermines when it unduly interferes with the intrinsically private functions of production and exchange. Social and economic order arise from the natural desires to better one's (and one's family's) lot and to gain the praise and avoid the censure of one's neighbors and business associates. Individuals behave decently and honestly because it gives them a clear conscience as well as the good reputation necessary for public approbation and sustained, profitable business relations.

The classic of economics, first published in 1776

Adam Smith's Theory of Moral Sentiments (1759) lays the foundation for a general system of morals, and is a text of central importance in the history of moral and political thought. It presents a theory of the imagination which Smith derived from David Hume but which encompasses an idea of sympathy that in some ways is more sophisticated than anything in Hume's philosophy. By means of sympathy and the mental construct of an impartial spectator, Smith formulated highly original theories of conscience, moral judgment and the virtues. The enduring legacy of his work is its reconstruction of the Enlightenment idea of a moral, or social, science encompassing both political economy and the theory of law and government. This 2002 volume offers a new edition of the text with clear and helpful notes for the student reader, together with a substantial introduction that sets the work in its philosophical and historical context.

Adam Smith's Theory of Moral Sentiments (1759) lays the foundation for a general system of morals, and is a text of central importance in the history of moral and political thought. It presents a theory of the imagination which Smith derived from David Hume but which encompasses an idea of sympathy that in some ways is more sophisticated than anything in Hume's philosophy. By means of sympathy and the mental construct of an impartial spectator, Smith formulated highly original theories of conscience, moral judgment and the virtues. The enduring legacy of his work is its reconstruction of the Enlightenment idea of a moral, or social, science encompassing both political economy and the theory of law and government. This 2002 volume offers a new edition of the text with clear and helpful notes for the student reader, together with a substantial introduction that sets the work in its philosophical and historical context.

Frankenstein or The Modern Prometheus, was completed by Mary Shelley at the age of 19. She infused this original novel with Gothic and Romantic elements. Scientist Victor Frankenstein creates a large and powerful creature in the likeness of man, but is disgusted by his own creation and he abandons the being to fend for itself. Spawning generations of horror stories in the genre, Frankenstein is a gruesome warning against playing God and attempting the engineering of life.

Intermediate groups voluntary associations, churches, ethnocultural groups, universities, and more, can both protect and threaten individual liberty. The same is true for centralized state action against such groups. This wide-ranging book argues that, both normatively and historically,liberal political thought rests on a deep tension between a rationalist suspicion of intermediate and local group power, and a pluralism favorable toward intermediate group life, and preserving the bulk of its suspicion for the centralizing state.The book studies this tension using tools from the history of political thought, normative political philosophy, law, and social theory. In the process, it retells the history of liberal thought and practice in a way that moves from the birth of intermediacy in the High Middle Ages to the BritishPluralists of the twentieth century. In particular, it restores centrality to the tradition of ancient constitutionalism and to Montesquieu, arguing that social contract theory's contributions to the development of liberal thought have been mistaken for the whole tradition.It discusses the real threats to freedom posed both by local group life and by state centralization, the ways in which those threats aggravate each other. Though the state and intermediate groups can check and balance each other in ways that protect freedom, they may also aggravate each other'sworst tendencies. Likewise, the elements of liberal thought concerned with the threats from each cannot necessarily be combined into a single satisfactory theory of freedom. While the book frequently reconstructs and defends pluralism, it ultimately argues that the tension is irreconcilable and notsusceptible of harmonization or synthesis; it must be lived with, not overcome.

Individualist and communitarian. Anarchist and totalitarian. Classicist and romanticist. Progressive and reactionary. Since the eighteenth century, Jean-Jacques Rousseau has been said to be all of these things. Few philosophers have been the subject of as much or as intense debate, yet almost everyone agrees that Rousseau is among the most important and influential thinkers in the history of political philosophy. This new edition of his major political writings, published in the year of the three-hundredth anniversary of his birth, renews attention to the perennial importance of Rousseau's work.   The book brings together superb new translations by renowned Rousseau scholar John T. Scott of three of Rousseau's works: the Discourse on the Sciences and Arts, the Discourse on the Origin and Foundations of Inequality Among Men, and On the Social Contract. The two Discourses show Rousseau developing his well-known conception of the natural goodness of man and the problems posed by life in society. With the Social Contract, Rousseau became the first major thinker to argue that democracy is the only legitimate form of political organization. Scott's extensive introduction enhances our understanding of these foundational writings, providing background information, social and historical context, and guidance for interpreting the works. Throughout, translation and editorial notes clarify ideas and terms that might not be immediately familiar to most readers.   The three works collected in The Major Political Writings of Jean-Jacques Rousseau represent an important contribution to eighteenth-century political theory that has exerted an extensive influence on generations of thinkers, beginning with the leaders of the French Revolution and continuing to the present day. The new translations on offer here will be welcomed by a wide readership of both Rousseau scholars and readers with a general interest in political thought.

Looks at all aspects of the pivotal intellectual relationship between two key figures of the Enlightenment This collection brings together an international and interdisciplinary group of Adam Smith and Jean-Jacques Rousseau scholars to explore the key shared concerns of these two great thinkers in politics, philosophy, economics, history and literature. Rousseau (1712-78) and Smith (1723-90) are two of the foremost thinkers of the European Enlightenment. They both made seminal contributions to moral and political philosophy and shaped some of the key concepts of modern political economy. Among Smith's first published works was a letter to the Edinburgh Review where he discusses Rousseau's Discourse on the Origin of Inequality. Smith continued to engage with Rousseau's work and to explore many shared themes such as sympathy, political economy, sentiment and inequality. Though we have no solid evidence that they met in person, we do know that they shared many friends and interlocutors. In particular, David Hume was Smith's closest intellectual associate and was also the one who arranged for Rousseau's stay in England in 1766.