Adam Smith, Theory of Moral Sentiments

Adam Smith's Theory of Moral Sentiments (1759) lays out his moral philosophy, and provides the philosophical and psychological underpinnings of the better-known Inquiry Into the Nature and Causes of the Wealth of Nations (1776). In this video, prepared for the History of Economic Thought course for economics majors at Northwestern University, I highlight the main ideas in Theory of Moral Sentiments and their relevance to Smith's subsequent works.
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[@binarlestari2497]

I love how passionate she is explaining this, thank you

[@MrLatinoAmbassador]

A perfect evergreen piece. Loved it!

[@philosophe5319]

Wonderfully done! She is extremely intelligent

[@asrarul12]

BEAUTIFUL. Was searching for something precise and to the point for first year undergrads in economics at Jahangirnagar Univ, Bangladesh. Thanks a lot :)

[@ThePetitbriedoux]

Smith warned us in this work that division of labour is not good for the human being. He also made clear that the rights of entreprises should not be the same as the rights of the citizens as it could ultimately crushed a society....

[@lawrencebrown3677]

Modern capitalism is nothing like the world about which Adam Smith wrote. Modern manufacturing industry was still n the future and his world was chiefly a mercantile one. The predominate form of wealth ownership was that of land. No one grew really rich from making things. This was left to the evolution of industry when a great expansion of the factory system and the intensive exploitation of a very large workforce produced great profits and eventually led to mergers and takeovers to form even more profitable enterprises , thus allowing wealth to be concentrated into fewer hands. Thus the rise of multi-millionaires and billionaires. Smith's model did not allow him to forecast such a devlepment.

[@tolstoiesky]

Thank you. Very inspiring perspective to re-read Adam Smith works and the evolution and impact of liberal ideas.

[@austinwakefield601]

very helpful, thanks so much.

[@user-yu9vt9er7u]

It's too bad more people know of "invisible hand" than of "impartial spectator"...it's truly too bad...

[@teckyify]

Whereby "invisible hand" is not particularly important, it's just mentioned once and then abused in billion different unrelated contexts.

[@tri-tinhnguyen7392]

This was an excellent and concise summary of Adam Smith's great work. However, please do not define a word with the use of the same word.

[@Little-bird-told-me]

Smith is still as relevant today, as he was during his time. How intellectual treat people has chess piece is a perfect example of Govt policy

[@georgemacfarlane8480]

Good summary, but just for the record first use of the term Civil Society was by another Adam, Adam Ferguson in 1767, 8 years later, in his essay on the nature thereof.

[@LadyLazarus1027]

i find it quite interesting that, as a theoretician of economic liberalism, he at the same time defends sentimentalism in ethics, which somehow believes in the natural goodness of human nature.

[@eleonorgaa2579]

This video is very helpful ❤️❤️

[@MikeSparksTn]

Nice talk. Adam Smith, Capitalism's Prophet.

[@fufu3539]

She also did some economic study of electric utilities I recall.

[@magdalenabadarowska1510]

I need help.. I' m looking forward for answer. What are two roles in sympathy (A. Smith)? I' m student from Poland and I' m looking answer everywhere.. :(

[@bradwalton8373]

It seems to be one of the perversions of contemporary political thought that "beneficence," which is NOT a moral duty, has been subsumed under, and in fact identified with, "justice," which IS a moral duty, so that the political power now considers "beneficence" (in the guise of "economic justice" and "social justice") a moral and therefore political obligation, which it is not. The consequence is that, in the pursuit -- and, more importantly, in the enforcement -- of what Adam Smith would call "beneficence" (which not being a duty ought not be enforced), modern goverments commit injustices.

[@jackzson]

any examples of enforced beneficence leading to government injustices?

[@ManMuffinEater]

The two concepts are irrevocably linked together in the development of modern political systems. The very “rights” espoused by classical liberals would have been seen and indeed were seen as extravagant by the institutional authorities of the 17th century. What we now enjoy as civil rights were only developed in the course of a developing society whose interests were increasingly commercial and literate; thus they were deemed to be an indispensable “good” for citizens. Our modern civil liberties were born from a pursuit of beneficence

[@sandeepvk]

spontaneously - the word you were should have used is "serendipity"

[@tracysample6942]

Marginal Revolution University, just a another link in the Kochtopus.