By John E. Hill
This ebook examines Adam Smith’s major ideas in Wealth of Nations because the foundation for potent policymaking. Adam Smith desired to raise happiness via this formulation for an excellent lifestyles: equality, liberty, and justice. unfastened marketplace interpretations of Smith, the booklet argues, grossly misrepresent his inspiration, emphasizing merely liberty and never additionally equality and justice. This e-book indicates guidelines that mix all 3 to ensure that happiness to be maximized.
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Extra info for Adam Smith’s Equality and the Pursuit of Happiness
But those who supposed that Adam Smith changed his views from his first book to his second are wrong. Theory of Moral Sentiments and Wealth of Nations were two parts of the interrelated system he was building. 26 Smith did not contradict his own system. ”28 Smith assumed that businessmen would be ethically grounded; ethical grounding would prevent market injustice. ”29 His ethics included clear connections of virtues and happiness. ”30 For Smith, a man of virtue was a man who paid attention to the sentiments of others.
Businessmen gained special advantages through their inordinate influence in Parliament. 76 In other words, justice in the legal sense promotes economic creativity and efficiency. When justice was impartial, even the poorest British subject benefited from his diligence without being cheated by someone with better political connections. This has worked well for the USA, which has been most successful economically when the system has provided justice for all (in both senses of justice). Edison, and Steve Jobs.
22. INTRODUCTION: A FORGOTTEN REVOLUTIONARY IDEAL 17 5. P. ” Dædalus 133, no. 85. 6. 98. 203. 7. Bertrand Russell, The Conquest of Happiness (New York: Liveright Publishing, 1958 [originally published, 1930]), pp. 155, 176, and 248–249. 8. 251. 9. Smith, Theory of Moral Sentiments, 1:468. 10. , Papers of John Adams (Cambridge: Belknap Press of Harvard University Press, 1979), 4:86. 11. Smith, Theory of Moral Sentiments, 1:96. 12. Smith, Theory of Moral Sentiments, 1:213. 13. 419. 14. 183.
Adam Smith’s Equality and the Pursuit of Happiness by John E. Hill