What the classicals said: Difference between revisions
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In one of his most famous works, ''The Theory of Moral Sentiments'', Smith introduces the idea of sympathy as a guiding force for our actions in society. More akin to what we might call empathy, Smith's idea of sympathy is our ability to identify ourselves with others and to in some sense share in the pain and pleasure which we see them receive. Smith views this as similar to switching places with another and yet retaining your consciousness, in other words, to "put yourself in their shoes". Thus because of sympathy people will naturally try to make their actions appealing to what others are willing to go along with. Sympathy is also a way that we can "step outside of ourselves" and regard our actions objectively. In this way, sympathy will normalize our behavior, causing us to socialize our behavior even if we are free to do as we choose. Thus, sympathy is the foundation of rules and justice. Smith's arguments about moral sentiments which are based on this theory of sympathy is the foundation of modern normative economics. However, Smith is not simply interested in the morals and ethics of economics, he also considers the positive side of economics. In his book ''The Wealth of Nations'' he talks about many more logistical aspects of economics. the power of the division of labor in producing beneficial outcomes above and beyond the aggregate of several people could achieve working individually. | In one of his most famous works, ''The Theory of Moral Sentiments'', Smith introduces the idea of sympathy as a guiding force for our actions in society. More akin to what we might call empathy, Smith's idea of sympathy is our ability to identify ourselves with others and to in some sense share in the pain and pleasure which we see them receive. Smith views this as similar to switching places with another and yet retaining your consciousness, in other words, to "put yourself in their shoes". Thus because of sympathy people will naturally try to make their actions appealing to what others are willing to go along with. Sympathy is also a way that we can "step outside of ourselves" and regard our actions objectively. In this way, sympathy will normalize our behavior, causing us to socialize our behavior even if we are free to do as we choose. Thus, sympathy is the foundation of rules and justice. Smith's arguments about moral sentiments which are based on this theory of sympathy is the foundation of modern normative economics. However, Smith is not simply interested in the morals and ethics of economics, he also considers the positive side of economics. In his book ''The Wealth of Nations'' he talks about many more logistical aspects of economics. the power of the division of labor in producing beneficial outcomes above and beyond the aggregate of several people could achieve working individually. | ||
<center>[[Group 3: Normative and Positive Traditions in Economics|Home]] | [[Introduction: What are Positive and Normative Economics?|Introduction]] | [[Normative Economics]] | [[Positive Economics]] | [[What the classicals said]] | [[Transition period, Seperation, and their labeling|Transition]] | [[Economics today (Positive) & its future]] | [[What we learn from this]] | [[Our Conclusions|Conclusion]] | [[Sources and Works Cited|Works Cited]]</center> | |||
Revision as of 19:03, 1 May 2007
Merits of considering both traditions
Adam Smith
In one of his most famous works, The Theory of Moral Sentiments, Smith introduces the idea of sympathy as a guiding force for our actions in society. More akin to what we might call empathy, Smith's idea of sympathy is our ability to identify ourselves with others and to in some sense share in the pain and pleasure which we see them receive. Smith views this as similar to switching places with another and yet retaining your consciousness, in other words, to "put yourself in their shoes". Thus because of sympathy people will naturally try to make their actions appealing to what others are willing to go along with. Sympathy is also a way that we can "step outside of ourselves" and regard our actions objectively. In this way, sympathy will normalize our behavior, causing us to socialize our behavior even if we are free to do as we choose. Thus, sympathy is the foundation of rules and justice. Smith's arguments about moral sentiments which are based on this theory of sympathy is the foundation of modern normative economics. However, Smith is not simply interested in the morals and ethics of economics, he also considers the positive side of economics. In his book The Wealth of Nations he talks about many more logistical aspects of economics. the power of the division of labor in producing beneficial outcomes above and beyond the aggregate of several people could achieve working individually.
