The Other Brother has a longer commute to work than I, so he's long been a consumer of podcasts. One of the ones he particularly likes is Russ Roberts's Econ Talk. Indeed, he's such a fan that he bought and enjoyed this book and passed it on to me. I enjoyed it enough that I've become a listener on my daily dog walk. Particularly in these hyper-partisan, deeply silly, times, he is a voice of decency and reason. His guests are generally interesting and often enough authors that you end up with a pretty good reading list. But I do have a quarrel and it carries over to this book. though he is personally an observant Jew, Mr. Roberts is politically a libertarian, with the analytical shortcomings that ideology has always imposed. What is particularly jarring is the juxtaposition of knowing what is right and good--even required for the right and good--joined to the notion that society does not require same and can not access it. Predictably then, while he had always been conversant with Adam Smith's Wealth of Nations, he had never read, nevermind considered, Smith's prior book, The Theory of Moral Sentiments. The latter, after all, represents a fatal stumbling block to those who wish to use Smith to justify free markets in all things, including morality. read properly, the two texts represent an A-frame, with the former depending on the latter. The capitalist system that Smith recommends in Wealth of Nations requires the sort of universally predictable behavior and rule bound conduct that presupposes a shared societal morality. Moral Sentiments had already discovered the basis of this universalism in belief in God: Without this sacred regard to general rules, there is no man whose conduct can be much depended upon. It is this which constitutes the most essential difference between a man of principle and honour and a worthless fellow. The one adheres, on all occasions, steadily and resolutely to his maxims, and preserves through the whole of his life one even tenour of conduct. The other, acts variously and accidentally, as humour, inclination, or interest chance to be uppermost. Nay, such are the inequalities of humour to which all men are subject, that without this principle, the man who, in all his cool hours, had the most delicate sensibility to the propriety of conduct, might often be led to act absurdly upon the most frivolous occasions, and when it was scarce possible to assign any serious motive for his behaving in this manner. Your friend makes you a visit when you happen to be in a humour which makes it disagreeable to receive him: in your present mood his civility is very apt to appear an impertinent intrusion; and if you were to give way to the views of things which at this time occur, though civil in your temper, you would behave to him with coldness and contempt. What renders you incapable of such a rudeness, is nothing but a regard to the general rules of civility and hospitality, which prohibit it. That habitual reverence which your former experience has taught you for these, enables you to act, upon all such occasions, with nearly equal propriety, and hinders those inequalities of temper, to which all men are subject, from influencing your conduct in any very sensible degree. But if without regard to these general rules, even the duties of politeness, which are so easily observed, and which one can scarce have any serious motive to violate, would yet be so frequently violated, what would become of the duties of justice, of truth, of chastity, of fidelity, which it is often so difficult to observe, and which there may be so many strong motives to violate? But upon the tolerable observance of these duties, depends the very existence of human society, which would crumble into nothing if mankind were not generally impressed with a reverence for those important rules of conduct.Where then men act according the the moral dictates of God, we can have an economic system that is rather free. But, obviously, to precisely the degree that each actor can invent his own personal rules we would have to have ever more restrictive government controls interfering in the marketplace. Absent the vice-regents of God within us we must have the sovereign state without. But, as Mr. Roberts relates the lessons he took away from reading Moral Sentiments, it is precisely God (the Author) who is missing. He seems to believe that it would be sufficient for us to think of ourselves as continually scrutinized by any old "impartial spectator" for us to conform our behavior to a universal standard. But the problem of the impartiality here is readily apparent. For to be truly impartial would imply not just that the imagined spectator is impartial between you and me but between what you and I believe. This removes the capacity for any moral judgment whatsoever and thrusts us back on the sort of atomization and personal preference that can not sustain a moral scheme. Let us consider a pretty basic example: take a couple where one member believes in marital fidelity and the other does not. What use is it to refer their situation to an impartial observer if that observer has no partiality towards one behavior or the other? In fact, a workable morality is never impartial as to the prescribed rules, only to their universal applicability. The point of Smith's spectator's impartiality is that He applies the same rules to you and to me regardless of who we are. Ultimately, while this book is well-worth your time and Mr. Roberts is, as always, a pleasant guide, his libertarianism prevents him from presenting the full treatment that Smith deserves, even requires. Like the blind men trying to describe an elephant, he can grasp only pieces, not the whole. (Reviewed:) Grade: (B-) Tweet Websites:-WIKIPEDIA: Russ Roberts -AUTHOR WEBSITE: Russ Roberts -TWITTER FEED: @EconTalker -PODCAST HOME: EconTalk (Library of Law & Liberty) -EXCERPT: Chaper One of How Adam Smith Can Change Your Life -BOOK SITE: How Adam Smith Can Change Your Life (Penguin Random House) -ESSAY: In praise of … EconTalk: Every week the economist Russ Roberts chats to an academic or writer about a subject related to economics for about an hour (the Guardian, 8/31/10) -PODCAST: Russ Roberts: From the Bible to Hayek: A discussion with the influential economist, podcaster and educator, who recently made aliya to Israel (Good Faith Effort, 1/05/22, Times of Israel) -ETEXT: An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith (Library of Economics and Liberty) -ETEXT: The Theory of Moral Sentiments by Adam Smith (Library of Economics and Liberty) -PODCAST: Russ Roberts and Mike Munger on How Adam Smith Can Change Your Life (EconTalk Episode with Russ Roberts, 10/13/14) -ECONTALK BOOK CLUB: Dan Klein and Russ Roberts offer a six-part podcast series reading and discussing The Theory of Moral Sentiments (TMS), by Adam Smith (EconTalk Podcast) -ESSAY: Adam Smith: Moral Hypocrite? (Russell Roberts, November 18, 2014, Defining Ideas) -ESSAY: Sympathy for Homo Religiosus (Russell Roberts, May 2014, Economics in Practice - -INTERVIEW: Russ Roberts Applies Adam Smith to Modern-Day Issues (Allen Kenney, 3/16/2015, REIT magazine) -AUDIO INTERVIEW: Russ Roberts: Adam Smith's Surprising Guide to Happiness (But Not Wealth) (Nick Gillespie & Todd Krainin, October 8, 2014, Reason) -AUDIO INTERVIEW: Learning From Adam Smith (KERA Think, November 5, 2014) -AUDIO INTERVIEW: HOW ADAM SMITH CAN CHANGE YOUR LIFE (Royal Society for the encouragement of Arts, Manufactures and Commerce, 30th October 2014) -AUDIO INTERVIEW: How Adam Smith Can Change Your Life With Russ Roberts (Art of Manliness Podcast #91, 11/30/14) -AUDIO INTERVIEW: ECONTALK, INTELLECTUAL HONESTY, AND ADAM SMITH WITH RUSS ROBERTS (GARRETT M. PETERSEN, 2/23/18, Economics Detective) -AUDIO INTERVIEW: Episode 155: Russ Roberts – A Guide To Human Nature & Happiness (Ryan Hawk, 8/31/16, The Learning Leader) -INTERVIEW: When All Economics Is Political: The dismal science has too much junk science, says Russ Roberts, an evangelist for humility in a discipline where it is often hard to find. (Kyle Peterson, May 13, 2016, WSJ) -ESSAY: Adam Smith’s Other Masterwork (RYAN P. HANLEY, December 3, 2020, National Review) -ESSAY: The invisible hand and the little finger: Adam Smith’s morality tale (Pat Tomaino, Medium) -PROFILE: Deirdre McCloskey’s Market Path to Virtue: An idiosyncratic economist preaches the innate morality of business. (Andrea Gabor, 5/30/06, strategy + business) -PDF ESSAY: Adam Smith, The Last of the Former Virtue Ethicists (Deirdre McCloskey) -REVIEW: of How Adam Smith Can Change Your Life by Russ Roberts (Kyle Smith, NY Post) -REVIEW: of How Adam Smith Can Change Your Life (Daniel Akst, WSJ) -REVIEW: of How Adam Smith Can Change Your Life (David Brown, Financial Times) -REVIEW: of How Adam Smith Can Change Your Life (Carolyn Gregoire, Huffington Post) -REVIEW: of How Adam Smith Can Change Your Life (Clive Crook, Bloomberg) -REVIEW: of How Adam Smith Can Change Your Life (Robert Litan, WSJ) -REVIEW: of How Adam Smith Can Change Your Life (Austin Frakt, Incidental Economist) -REVIEW: of How Adam Smith Can Change Your Life (Jeremy Williams, Make Wealth History) -REVIEW: of How Adam Smith Can Change Your Life (John T. Dalton, Independent Review) -REVIEW: of How Adam Smith Can Change Your Life (Kevin Holtsberry, Collected Miscellany) -REVIEW: of How Adam Smith Can Change Your Life (LUCY STEIGERWALD, Pittsburgh Post-Gazette) -REVIEW: of How Adam Smith Can Change Your Life (Gary Belsky, Money) -REVIEW: of How Adam Smith Can Change Your Life (Sheeraz Raza, Value walk) -REVIEW: of How Adam Smith Can Change Your Life (William Irwin Ph.D., Psychology Today) -REVIEW: of How Adam Smith Can Change Your Life (Robert E. Litan, Brookings) -REVIEW: of How Adam Smith Can Change Your Life (Anthony Annett, IMF) -REVIEW: of How Adam Smith Can Change Your Life (Brendan P. Foht, Free Beacon) -REVIEW: of How Adam Smith Can Change Your Life (Robert Curry, The Federalist) -REVIEW: of How Adam Smith Can Change Your Life (MARIA POPOVA, Brain Pickings) -REVIEW: of How Adam Smith Can Change Your Life (Jackson Thornton Asset Management) -REVIEW: of How Adam Smith Can Change Your Life (Buddha on Wall Street) -REVIEW: of How Adam Smith Can Change Your Life (Candice DiLavore, Values & Capitalism) -REVIEW: of How Adam Smith Can Change Your Life (Ira Stoll, Future of Capitalism) -REVIEW: of How Adam Smith Can Change Your Life (Alex Russell, Center for Independent Studies) Book-related and General Links: -WIKIPEDIA: Adam Smith - -Adam Smith (1723-1790 ) (Library of Economics and Liberty) -ETEXT: An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith (Library of Economics and Liberty) -ETEXT: The Theory of Moral Sentiments by Adam Smith (Library of Economics and Liberty) -ESSAY: Market Man: What did Adam Smith really believe? (Adam Gopnik, 10/18/10, The New Yorker) -REVIEW ESSAY: Is there more to Adam Smith than free markets?: He championed laissez-faire economics but also recognised the need for strong social institutions (John Kay, Financial Times) -PODCAST: Otteson on Adam Smith (EconTalk Episode with James Otteson, 6/27/11, Hosted by Russ Roberts) -ESSAY: The Real Adam Smith Vs. The Fake Adam Smith (Jerry Bowyer, 9/15/17, Forbes) -ESSAY: Adam Smith on CSR (CLIVE CROOK, AUG 8, 2008, The Atlantic) -ESSAY: Adam Smith Preached Self-Interest–and Self-Help, Too (Robert Litan, Apr 25, 2015, WSJ) -ESSAY: Nit-Picking “Blessed” Adam Smith (Stephen Masty, February 20th, 2015, Imaginative Conservative) - - - |
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