Dec 11, 2017
In 1759, while working as a tutor, Adam Smith wrote a book
called The Theory of Moral Sentiments that begins as follows:
"How selfish soever man may be supposed, there are evidently some
principles in his nature, which interest him in the fortunes of
others, and render their happiness necessary to him, though he
derives nothing from it, except the pleasure of seeing it. Of this
kind is pity or compassion, the emotion we feel for the misery of
others, when we either see it, or are made to conceive it in a very
lively manner. That we often derive sorrow from the sorrows of
others, is a matter of fact too obvious to require any instances to
prove it; for this sentiment, like all the other original passions
of human nature, is by no means confined to the virtuous or the
humane, though they perhaps may feel it with the most exquisite
sensibility. The greatest ruffian, the most hardened violator of
the laws of society, is not altogether without it."
In 1776, that same Adam Smith would write The Wealth of Nations,
the book that would establish capitalism. To a modern audience, for
whom the idea of selfishness is synonymous with capitalism, this
seems incredibly strange. However, it wasn't strange at all. Smith
was primarily interested in improving the well-being of humanity.
To him, it was clear that market forces were one of the great tools
for doing this. However, this does not mean that Smith believed
that humanity was entirely selfish.
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