Results found: 2

Search results

Search:
in the keywords: Commercial Society

Sort By:

Limit search:

The Scottish Enlightenment and the Challenges of Commercial Society: Adam Smith’s Wealth of Nations

100%

Smith C.

Horyzonty Polityki

2017

vol. 8

issue 25

43-64

RESEARCH OBJECTIVE: The aim of this paper is to examine the economic advice that Adam Smith provides for individuals and relate that to the judgements that he makes about national economies. It argues that Smith’s interest in unintended consequences leads him to consider both levels of economic activity in a particular way. While these aspects of his thought have been discussed in the literature, they have not been analysed together. THE RESEARCH PROBLEM AND METHODS: As a book the Wealth of Nations had two interrelated purposes: it was a scientific attempt to understand political economy, and it was also a critical intervention into British policy based upon the evidence of that inquiry. This paper looks at the connection between these two aspects of the book. In particular it examines how Smith moves from an explanation of the evolution and operation of commercial society that depends on unintended consequences (such as the famous ‘invisible hand’) to a set of suggestions for macro level policy to be undertaken by the government and micro level advice for individuals. The paper proceeds by close textual analysis of key passages from Smith’s work. THE PROCESS OF ARGUMENTATION: the paper traces how Smith’s scientific approach generalises from historical evidence to identify and study the core principles of the division of labour and trade. From here he identifies a set of necessary conditions for the successful operation of a commercial society: The rule of law, political stability, and certain public works and regulations. But Smith also offers some observations on successful economic strategies that should be adopted by individuals. RESEARCH RESULTS: The paper shows that Smith communicates his advice to individuals through character sketches of the book’s ‘hero’ the prudent man, and the book’s ‘villains’ the prodigal and the projector. The contrast between these examples serves a didactic purpose for Smith. CONCLUSION, INNOVATION AND RECOMMENDATION: The paper concludes by taking a look at Smith’s advice to individuals for pursuing economic success through character sketches. It contributes to the literature by stressing Smith’s interest in the connection between macro-level national economic phenomena and micro-level individual economic strategy, and by showing how his book offers advice to both nations and individuals. This is an underexplored dimension of Smith’s account that is examined in detail in a way not present in the scholarly literature.

Adam Smith, Commercial Society and the Challenges of Republicanism

88%

Lis R.

Horyzonty Polityki

2017

vol. 8

issue 25

9-28

Research objective: The aim of this article is to examine the challenges Adam Smith’s account of commercial society pose to republicanism. The research problem and methods: Although I do not dispense with the conventional depiction of Smith as a critic of republics, it is shown that from a republican point of view there are certain aspects in his narrative that can be more interesting Conceptualized in this way, my argumentation is both interpretative and theoretical, describing what Smith had to say on republican issues as well as finding some elements in his considerations that could considerably enrich republican theory. To make these prospects more clearer I briefly refer to some parallels to Smith’s suggestions in the republican thought of the late 18th Century. The process of argumentation: The article deals in the beginning with Smith’s criticism of republicanism, identifying its core in his general distance towards the ideals of a more ardent citizenry. In the main section it proceeds to the discussion of several elements in Smith’s considerations which could be of some value to republican theorists. Research results: According to Smith, due to their obsoleteness in the times of commercial society, which were characterised especially by the growing importance of private pursuits, republics become difficult to administer. However, one could still use some of his arguments (especially those that can be easily filtered from their doctrinal connotations) to the task of modernizing the republican tradition. Conclusions, innovations and recommendations: Smith’s considerations could be valuable to all those republican theorists who continued in their efforts to modernize their conception of a republic. Seen in this way, they can be perceived as an interesting reference point in the area of republican theorizing.

Refine search results

2 Horyzonty Polityki

2 2017

1 Lis R.

1 Smith C.

Search results

The Scottish Enlightenment and the Challenges of Commercial Society: Adam Smith’s Wealth of Nations

Adam Smith, Commercial Society and the Challenges of Republicanism