An Analysis of Self-Love and Sympathy with Special Reference to Bernard De Mandeville and Adam Smith

Total Page:16

File Type:pdf, Size:1020Kb

An Analysis of Self-Love and Sympathy with Special Reference to Bernard De Mandeville and Adam Smith AN ANALYSIS OF SELF-LOVE AND SYMPATHY WITH SPECIAL REFERENCE TO BERNARD DE MANDEVILLE AND ADAM SMITH A THESIS SUBMITTED TO THE GRADUATE SCHOOL OF SOCIAL SCIENCES OF MIDDLE EAST TECHNICAL UNIVERSITY BY IŞIL ÇEŞMELİ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY IN THE DEPARTMENT OF PHILOSOPHY JANUARY 2017 Approval of the Graduate School of Social Sciences Prof. Dr.Tülin GENÇÖZ Director I certify that this thesis satisfies all the requirements as a thesis for the degree of Doctor of Philosophy. Prof. Dr. Ş. Halil TURAN Head of Department This is to certify that we have read this thesis and that in our opinion it is fully adequate, in scope and quality, as a thesis for the degree of Doctor of Philosophy. Prof. Dr. Ş. Halil TURAN Supervisor Examining Committee Members Prof. Dr. Kurtuluş DİNÇER (Hacettepe U., PHIL) Prof. Dr. Ş. Halil TURAN (METU, PHIL) Prof. Dr. Ertuğrul R. TURAN (Ankara U., PHIL) Assoc. Prof. Dr. Samet BAĞÇE (METU, PHIL) Assoc. Prof. Dr. Barış PARKAN (METU, PHIL) I hereby declare that all information in this document has been obtained and presented in accordance with academic rules and ethical conduct. I also declare that, as required by these rules and conduct, I have fully cited and referenced all material and results that are not original to this work. Name, Last name : Işıl ÇEŞMELİ Signature : iii ABSTRACT AN ANALYSIS OF SELF-LOVE AND SYMPATHY WITH SPECIAL REFERENCE TO BERNARD DE MANDEVILLE AND ADAM SMITH Çeşmeli, Işıl Ph.D., Department of Philosophy Supervisor : Prof. Dr. Ş. Halil Turan January 2017, 213 pages Self-love and sympathy as two antagonistic views regarding human nature occupied an important place in eighteenth century philosophical milieu. First view, inherited from Thomas Hobbes was defended passionately by Bernard de Mandeville. In The Fable of the Bees Mandeville depicts main dynamics of civil society by anatomizing human nature, moral motivations of individuals and the structure of politics. His notoriety among eighteenth century moralists was due to his famous motto “private vices public benefits” and his assertion of selfishness as the basic motive of human nature. Adam Smith, contrary to Mandeville’s moral egoism, defends sympathy as a ground of moral judgments and draw attention to altruistic characteristic of human nature in The Theory of Moral Sentiments (1759). Although Smith propounds a completely different theory that of Mandeville in his earlier work it seems very surprising that he mentions self-love as a basic motive of human beings in The Wealth of Nations (1776). In this study, the role of iv self-love on Smith’s moral theory and economic system and possible effects of Mandeville’s doctrines will be discussed. On the basis of differences between Mandeville’s and Smith’s theories of morals and Smith’s stance against moral egoism this study aims to show that Smith’s system cannot be considered as a reconstruction of Mandeville’s social theory and system of morals. This study also demonstrates that when Smith’s works are examined thoroughly it will follow that Smith succeeds in overcoming Mandeville’s moral egoism by reconciling sympathy with self-love. Keywords: Self-love, Sympathy, Moral egoism, Virtue, Vice v ÖZ BERNARD DE MANDEVILLE VE ADAM SMITH’E GÖNDERMELERLE BEN- SEVGİSİ VE DUYGUDAŞLIK İNCELEMESİ Çeşmeli, Işıl Doktora, Felsefe Bölümü Tez Yöneticisi : Prof. Dr. Ş. Halil Turan Ocak 2017, 213 sayfa İnsan doğası hakkında iki karşıt görüş olan ben-sevgisi ve duygudaşlık onsekizinci yüzyıl felsefe çevrelerinde önemli bir yer teşkil etmiştir. Thomas Hobbes’dan miras kalan birinci görüş Bernard de Mandeville tarafından hararetle savunulmuştur. Arıların Masalı’nda Mandeville, insan doğası, bireylerin ahlaki motivasyonu ve siyasetin yapısını açımlayarak toplumun ana dinamiklerini tasvir eder. Mandeville’in “kişisel erdemsizlikler kamusal faydalar” olarak bilinen ünlü düsturu, bencil insan doğası iddiası onsekizinci yüzyıl ahlak felsefecileri arasındaki kötü şöhretinin nedenidir. Adam Smith, Mandeville’in ahlaki egoizminin tersine, duygudaşlığı ahlaki yargıların temeline koyar ve Ahlaki Duygular Kuramı’nda (1759) insan doğasının özgeci karakterine dikkat çeker. Fakat Smith’in önceki eserinde tamamen Mandeville’den farklı bir kuram ortaya koymasına rağmen sonraki eseri Ulusların Zenginliği’nde (1776) insanoğlunun ana dürtüsünün ben-sevgisi olduğunu iddia etmesi oldukça şaşırtıcıdır. Bu vi çalışmada, Smith’in ahlak kuramı ve ekonomik sisteminde ben-sevgisinin rolü ve olası Mandeville etkileri tartışılacaktır. Mandeville ve Smith’in ahlak kuramları arasındaki farklılıklar ve Smith’in ahlaki egoizme karşı duruşundan yola çıkarak bu çalışma Smith’in sisteminin Mandeville’in sosyal kuramı ve ahlak sisteminin yeniden inşası olamayacağını göstermeyi amaçlamaktadır. Bu çalışma ayrıca eserleri etraflıca incelendiğinde Smith’in duygudaşlık ve ben-sevgisini uzlaştırarak Mandeville’in ahlaki egoizminin üstesinden geldiğini göstermektedir. Anahtar Kelimeler: Ben-sevgisi, Duygudaşlık, Ahlaki egoizm, Erdem, Erdemsizlik vii To Memory of my Mother viii ACKNOWLEDGMENTS I express my deepest gratitude to my supervisor Prof. Dr. Şeref Halil Turan who introduced me Bernard de Mandeville and Scottish Enlightenment and encouraged me to carry out my doctoral research abroad. This dissertation would never have been possible without his endless support, guidance, advices and comments. I would also like to thank the Members of my Examining Committee Prof. Dr. Kurtuluş Dinçer, Assoc. Prof. Dr. Samet Bağçe, Prof. Dr. Ertuğrul Rufayi Turan and Assoc. Prof. Dr. Barış Parkan for their comments and suggestions. I am also grateful to Dr. Craig Smith for his hospitality, guidance and comments. He provided me with full support during my visit to University of Glasgow. Thanks are also due to my beloved friends Nil Avcı and Özlem Ünlü for their friendship and motivation. Whenever I needed them they were always there for me. Special thanks are also due to my husband Hakan Çeşmeli for his patience, encouragement and unconditional support. He made things easier for me at every stage of my dissertation. He always helped me to survive the hardship and never gave up believing in me. Finally, I would like to thank The Scientific and Technological Research Council of Turkey (TÜBİTAK) for its generous grant, 2214-A International Research Fellowship Programme for Doctoral Students, which provided me with an opportunity to carry out my doctoral research at University of Glasgow. ix TABLE OF CONTENTS PLAGIARISM ................................................................................................................ iii ABSTRACT .................................................................................................................... iv ÖZ ................................................................................................................................... vi DEDICATION ............................................................................................................. viii ACKNOWLEDGMENTS .............................................................................................. ix TABLE OF CONTENTS ..................................................................................................x LIST OF ABBREVIATIONS .............................................................................. xii CHAPTER 1. INTRODUCTION ............................................................................................... 1 2. BERNARD MANDEVILLE ON HUMAN NATURE AND ORIGIN OF MORALITY ......................................................................................................... 9 2.1 The Dark Side of Human Nature ............................................................. 9 2.2 Mandeville’s Skilful Politicians .............................................................. 24 2.3 (Im)possibility of Virtue.......................................................................... 47 2.4 Mandeville on Human Sociability ......................................................... 54 2.5 Vicious Bees of the Prosperous Hive ..................................................... 61 2.6 Criticisms after The Fable of the Bees ........................................................ 71 3. FRANCIS HUTCHESON’S CRITICISM OF SELF-LOVE AND HIS THEORY OF MORAL SENSE ......................................................................... 90 3.1 Hutcheson’s Theory of Moral Sense in An Inquiry into the Original of Our Ideas of Beauty and Virtue .................................................................. 90 3.2 Hutcheson’s Attack on Hobbes and Mandeville in Thoughts on Laughter and Observations on the Fable of the Bees .................................... 94 x 4. DAVID HUME’S THEORY OF PASSIONS AND MECHANISM OF SYMPATHY IN A TREATISE OF HUMAN NATURE ................................. 103 4.1 Hume’s Theory of Passions ...................................................................... 103 4.2 The Origin of our Moral Distinctions ...................................................... 108 4.3 The Mechanism of Sympathy .................................................................. 111 5. ADAM SMITH’S THEORY OF SYMPATHY ............................................... 119 5.1 The Theory of Sympathy .......................................................................... 119 5.2 Mandeville’s Licentious System .............................................................. 133 5.3 Corruption of Our Moral Sentiments .....................................................
Recommended publications
  • The Physiocrats Six Lectures on the French Économistes of the 18Th Century
    The Physiocrats Six Lectures on the French Économistes of the 18th Century Henry Higgs Batoche Books Kitchener 2001 First Edition: The Macmillan Company, 1897 This Edition: Batoche Books Limited 52 Eby Street South Kitchener, Ontario N2G 3L1 Canada email: [email protected] ISBN: 1-55273-064-6 Contents Preface ............................................................................................... 5 I: Rise of the School. .......................................................................... 6 II: The School and Its Doctrines. ..................................................... 17 III: The School and Its Doctrines (contd.) ....................................... 29 IV: Activities of the School. ............................................................. 43 V: Opponents of the School. ............................................................ 55 VI: Influence of the School. ............................................................. 66 Appendix .......................................................................................... 77 Authorities ....................................................................................... 80 Notes ................................................................................................ 82 Preface This little volume consists of lectures delivered before the London School of Economics in May and June of the present year. Impossible though it was found to give a truly adequate account of the Physiocrats in these six lectures, it has been thought that they may perhaps furnish
    [Show full text]
  • JOHN RAE on ECONOMIC DEVELOPMENT: a NOTE Downloaded from by Guest on 27 September 2021 by JOSEPH J
    JOHN RAE ON ECONOMIC DEVELOPMENT: A NOTE Downloaded from https://academic.oup.com/qje/article/73/3/393/1873379 by guest on 27 September 2021 By JOSEPH J. SPENGLER Introduction, 393. — I. Rae's theory, 395. — II. Application of Rae's theory, 402. — III. Conclusion, 405. "He formulated the economic theory of new countries. ." —R. Warren James' What the historian of thought discovers in a work is determined largely by the questions he brings to its study. Similarly, what the analyst of a treatise notices is governed principally by his interests of the moment. It is not surprising, therefore, that assessments and interpretations of the writings of economists of an earlier era undergo modification as the Weltanschauung and the concerns of economists change with the ascent of new problems and the recession of old ones. A case in point is the work of that remarkable Scotch-Canadian, John Rae. Possibly as brilliant an economist as nineteenth century North America was to produce, his ideas, conceived and formulated in "the solitude . of the Canadian backwoods" and supported by homely illustrations drawn from the frontier, have continued to influence economists for more than a century.' Thus Nassau Senior, impressed by Rae's account of "the accumulation of capital," recom- mended his book to Mill who, greatly influenced by it, cited it in his discussions of the division of labor, the disposition to save, indirect taxation, and protectionism.' American commentators drew on 1. See R. Warren James, "The Life and Work of John Rae," Canadian Journal of Economics and Political Science, XVII (1951), 142.
    [Show full text]
  • GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58Th Street, Chicago, Ill
    THE PROCESS AND PROGRESS OF ECONOMICS Nobel Memorial Lecture, 8 December, 1982 by GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58th Street, Chicago, Ill. 60637, USA In the work on the economics of information which I began twenty some years ago, I started with an example: how does one find the seller of automobiles who is offering a given model at the lowest price? Does it pay to search more, the more frequently one purchases an automobile, and does it ever pay to search out a large number of potential sellers? The study of the search for trading partners and prices and qualities has now been deepened and widened by the work of scores of skilled economic theorists. I propose on this occasion to address the same kinds of questions to an entirely different market: the market for new ideas in economic science. Most economists enter this market in new ideas, let me emphasize, in order to obtain ideas and methods for the applications they are making of economics to the thousand problems with which they are occupied: these economists are not the suppliers of new ideas but only demanders. Their problem is comparable to that of the automobile buyer: to find a reliable vehicle. Indeed, they usually end up by buying a used, and therefore tested, idea. Those economists who seek to engage in research on the new ideas of the science - to refute or confirm or develop or displace them - are in a sense both buyers and sellers of new ideas. They seek to develop new ideas and persuade the science to accept them, but they also are following clues and promises and explorations in the current or preceding ideas of the science.
    [Show full text]
  • Self-Interest in Six Dimensions
    Journal of Markets & Morality Volume 23, Number 1 (2020): 173–189 Copyright © 2020 Dylan Pahman Self-Interest Managing Editor, Journal of Markets & Morality in Six Dimensions Research Fellow, Acton Institute Introduction It is a first principle for modern economics that people tend to make decisions based upon calculations of their self-interest. Thus, some critics believe they can topple the whole edifice of modern economics if this presumption is shown to be unsound.1 Other critics more friendly to the discipline have seen challenging self-interest as a revolutionary breakthrough.2 Indeed, Nobel laureates Amartya Sen, Richard Thaler, Daniel Kahneman and Amos Tversky, and Vernon Smith have all critiqued the presumption of self-interest in their work. This essay seeks to contribute to the philosophy of economics by both complicating and clarify- ing the topic. First, I contend that there is not now, nor has there ever been, one single defi- nition of self-interest in modern economics. Some definitions may overlap, but often writers simply assume that their definition is the same as everyone else’s, when a modest sampling of various authors reveals that this is demonstrably false. If there is no consistent definition of self-interest in economics, then critiques of one particular definition do not succeed in indicting the whole discipline.3 Lest economists breathe a sigh of relief, however, I contend that this is a much bigger problem: If researchers do not all hold the same basic definition, how are they able to contribute to the same body of scholarship? Any two studies of self- interest in the social sciences may take fundamentally incompatible definitions as given, meaning that their findings, though they may be insightful on their own, 173 Dylan Pahman are incomparable with each other—they do not advance our knowledge of the same phenomenon, despite using the same term.
    [Show full text]
  • Regarding the Past
    Regarding the Past Proceedings of the 20th Conference of the History of Economic Thought Society of Australia University of Queensland 11-13 July 2007 Edited by Peter E. Earl and Bruce Littleboy This book comprises complete texts and/or abstracts of refereed papers presented at the 20th Conference of the History of Economic Thought Society of Australia held at The Women’s College, University of Queensland, 11-13 July 2007. © Selection and editorial material Peter E. Earl and Bruce Littleboy; individual chapters, the respective contributors Published by The School of Economics University of Queensland St Lucia, Brisbane QLD 4072 Australia ISBN: 9781 8649 98 979 (pbk); 9781 8649 98 955 (CD-ROM) All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical or photocopying, recording, or otherwise, without the prior permission of the publisher. Printed in Australia by the University of Queensland Printery Contents List of Contributors v Introduction Peter E. Earl and Bruce Littleboy vii 1 History for Economics: Learning from the Past 1 Alexander Dow and Sheila Dow 2 Theories of Economic Development in the Scottish Enlightenment 9 Alexander Dow and Sheila Dow 3 Ethical Foundations of Adam Smith’s Political Economy 25 James E. Alvey 4 Smith and the Materialist Theory of History 44 Jeremy Shearmur 5 Post-Keynesianism and the Possibility of a Post-Keynesian Politics 62 Geoff Dow 6 George Stigler’s Rhetoric – Dreams of Martin Luther 78 Craig Freedman 7 Why is the Austrian School’s Methodology Problematical? 103 Troy P.
    [Show full text]
  • Thomas Malthus and the Making of the Modern World
    THOMAS MALTHUS AND THE MAKING OF THE MODERN WORLD Alan Macfarlane 1 CONTENTS Acknowledgements 3 References, Conventions and Measures 3 Preface 4 The Encounter with Malthus 5 Thomas Malthus and his Theory 12 Part 1: Malthus (1963-1978) Population Crisis: Anthropology’s Failure 15 Resources and Population 23 Modes of Reproduction 40 Part 2: Malthus and Marriage (1979-1990) Charles Darwin and Thomas Malthus 44 The Importance of Malthusian Marriage 57 The Malthusian Marriage System and its Origins 68 The Malthusian Marriage System in Perspective 76 Part 3: Malthus and Death (1993-2007) The Malthusian Trap 95 Design and Chance 107 Epilogue: Malthus today 124 Bibliography 131 2 ACKNOWLEDGEMENTS My work on Malthus over the years has been inspired by many friends and teachers. It is impossible to name them all, but I would like to pay especial tribute to Jack Goody, John Hajnal, Keith Hopkins, Peter Laslett, Chris Langford, Roger Schofield Richard Smith and Tony Wrigley, who have all helped in numerous ways. Other acknowledgements are made in the footnotes. Gabriel Andrade helpfully commented on several of the chapters. As always, my greatest debts are to Gerry Martin, with whom I often discussed the Malthusian Trap, and to Sarah Harrison who has always encouraged my interest in population and witnessed its effects with me in the Himalayas. REFERENCES, CONVENTIONS AND MEASURES Spelling has not been modernized. American spelling (e.g. labor for labour) has usually been changed to the English variant. Italics in quotations are in the original, unless otherwise indicated. Variant spellings in quotations have not been corrected.
    [Show full text]
  • University of Paris Dauphine
    Course Title History of economic Thought Course Level L3 / M1 Graduate / Undergraduate Domain Management Language English Nb. Face to Face Hours 36 (3hrs. sessions) plus 1 exam of 3 hours for a total of 12 classes E-learning Support My course No ECTS 6 Maximum number of 55 students Course Title History of economic Thought Professor Jan Horst Keppler Contact Information Jan Horst Keppler, mail: [email protected], Université Paris-Dauphine, tel.: 01 44 05 45 13, mobile: 06 77 81 37 46. Grading Final Exam (control of acquired notions, some multiple choice) 50 % Written Assignment 50% (the assigned papers can be prepared individually or in groups of two or three; the list of possible topics is attached below). The grade for the paper includes class attendance. Except for students with special exemptions, more than two unmotivated absences can lead to deductions. Language English Prerequisites Basic knowledge of micro- and macroeconomics is desirable but not a must for students willing to familiarise themselves with a few key concepts during class. Objective The class aims to familiarise students with the main currents in the history of economic thought embodied by their most important theorists from Aristotle to Keynes. Students having taken the class should retain, in particular, the key features of the main economic bodies of thought and their actual or potential relevance to major historical or current economic questions. Learning Outcomes Knowledge of the great currents in the history of economic thought and their principal representatives and major texts; at least cursory understanding of several basic building blocks of economic theory; some intuition for the assumptions and methodological choices that establish economics as an autonomous endeavour of research in the social sciences.
    [Show full text]
  • History of Economics Economics 481/820 David M
    History of Economics Economics 481/820 David M. Levy 7 Carow Hall (Tu Th 2pm) Virtual Office [email protected] COURSE GOAL The focus of the class is to examine the historical foundations of modern economics while being open to the possibility that there are old pieces of knowledge that have been forgotten by modern economists. This semester’s theme is “witnessed world, modelled world.” The high points in literature include Plato’s Republic and Adam Smith’s books. REQUIRED TEXTS Adam Smith, Moral Sentiments and Wealth of Nations Glasgow editions T. R. Malthus, Population, edited by Donald Winch. David Ricardo, Principles of Political Economy, edited by P Sraffa J S Mill Principles of Political Economy edited by J Robson Sandra Peart and David Levy, “The Vanity of the Philosopher” Lord Robbins’ Lectures (ed) Samuels and Medema On reserve: Levy Economic Ideas of Ordinary People and How the Dismal Science Got its Name Levy, Peart–Levy and Levy–Peart offprints usually available by PDF GRADES 1) Weekly puzzles and problems(100 points) 2) Midterm exam (100 points) 3) Term Paper (200 points) 4) Final exam on all the material (200 points) The paper’s topic needs to be in writing by me. It cannot be on a text discussed in class unless the point is show that the instructor is wrong. The GRADUATE version of the class requires that the paper be presented in class. Undergrads can apply for this. 1 Schedule Week 1. Tools and Texts. Why is Bastiat important? Models for a world of witnesses? http://bastiat.org/en/twisatwins.html#broken_window http://www.econlib.org/library/Bastiat/basSoph4.html#I.18.12 Preview: Stoic models and Adam Smith’s witnesses Levy and Peart, Hume & Smith on race & national character [handout] Weeks 2.
    [Show full text]
  • The Use of Land Value Taxation in New Zealand (1891 – 1991)
    THE USE OF LAND VALUE TAXATION IN NEW ZEALAND (1891 – 1991) By Dylan Hobbs A thesis submitted to the Victoria University of Wellington in fulfilment of the requirements for the degree of Doctor of Philosophy School of Accounting and Commercial Law, Victoria University of Wellington 2019 Contents List of Tables ................................................................................................................................. v Abstract ........................................................................................................................................ vii List of Acronyms .......................................................................................................................... ix Acknowledgments ......................................................................................................................... xi Chapter 1: Introduction ................................................................................................................. 1 1.1 Research Design .................................................................................................................. 3 1.2 Research Questions ............................................................................................................. 3 1.3 Research Justification.......................................................................................................... 5 1.4 Thesis Structure ..................................................................................................................
    [Show full text]
  • Working Paper 5 Marshall Format
    Working Papers ifg Humangeographie Christoph Scheuplein Increasing Returns and Industrial Clustering: From Daniel Defoe to Alfred Marshall Institut für Geographie Westfälische Wilhelms-Universität Münster Heft 05 Working Papers Humangeographie Heft 5 Increasing Returns and Industrial Clustering: from Daniel Defoe to Alfred Marshall Dr. Christoph Scheuplein Institut für Geographie Westfälische Wilhelms-Universität Münster Schlossplatz 7 48149 Münster [email protected] Zusammenfassung Räumliche Konzentrationen in einer bestimmten Region, oder wirtschaftliche Cluster, wurden von zahlreichen Ökonomen im 18. und 19. Jahrhundert beschrieben. Beginnend mit frühklassischen Ökonomen wie William Petty und Daniel Defoe wurden verschiedene Versuche unternommen, die Vorteile der Lokalisation mit der Wachstumstheorie zu verbinden. Charles Babbage und Andrew Ure betonten die Bedeutung der Clusterung innerhalb des neu entstehenden Fabriksystems, was einen Einfluss auf das Werk von John S. Mill, J. Ramsay McCulloch und Karl Marx und ebenso auf das Werk von spät-klassischen Ökonomen wie Henry George und Henry Sidgwick ausübte. Diese Beiträge wurden von Alfred Marshall aufgegriffen, der die industrielle Clusterung als bestimmendes Element in seiner Preis- und Gleichgewichtstheorie platzierte. Schlagworte: Industrial Clustering, Increasing Returns, Cournot-Problem, Spatial Economics, Alfred Marshall Herausgeber: Prof. Dr. Ulrike Grabski-Kieron, Prof. Dr. Paul Reuber, Prof. Dr. Gerald Wood Im Selbstverlag des Instituts für Geographie Westfälische
    [Show full text]
  • History of Economic Thought
    FOURTH EDITION -------------------- History of Economic Thought FOURTH EDITION -------------------- History of Economic Thought Harry Landreth Centre College David C. Colander Middlebury College Houghton Mifflin Company Boston Toronto Contents 1 Introduction 1 The Central Focus of Modern Economic Thought 1 Divisions of Modern Economic Theory 3 Terminology and Classification 3 Our Approach to the History of Economic Thought 4 Relativist and Absolutist Approaches 4 Orthodox and Heterodox Economists 5 The Role of Heterodox Economists 6 Defining Heterodoxy 7 How dissenting Economists Influence Economic Thought 7 and the Profession Problems of Heterodox Economists 8 The problem of Presenting Diversity 8 Methodological Issues 10 Economics as an Art and as a Science 11 The Importance of Empirical Verification 11 Benefits to Be Gained from the Study of the History 12 of Economic Thought Key Terms 14 Questions for Review and Discussion 14 Suggested Readings 15 Appendix for Chapter 1 16 The Profession of Economics and Its Methodology 16 The Spread of Economic Ideas 17 The Evolution of Methodological Thought 18 iv Contents The Rise of Logical Positivism 18 The Logical Positivism to Falsificationism 18 From Falsificationism to Paradigms 19 From Paradigms to Research Programs 20 From Research Programs to Sociological and Rhetorical 20 Approaches to Method 21 Postrhetorical Methodology 22 PART ONE PRECLASSICAL ECONOMICS 22 2 Early Preclassical Economic Thought 27 Important Writers 27 Some Broad Generalizations 28 Non-Western Economic Thought 29 Greek Thought 31 Hesiod and Xemophone 31 Aristotle 32 Arab-Islamic Thought 33 Abu Hamid al-Ghazali 34 Ibn Khaldun 35 Scholasticism 35 The Feudal Foundation of Scholastic Thought 35 St.
    [Show full text]
  • The Successes and Failures of Professor Smith
    Selected Papers No. 5 0 The Successes and Failures of Professor Smith George J. Stigler Graduate School of Business The University of Chicago George J. Stigler is the Charles R. Walgreen Dis- tinguished Service Professor of American Institu- tions, and Director of the Walgreen Foundation, Graduate School of Business, at the University of Chicago. Previously he served on the faculties of Colum- bia University, Brown University, the University of Minnesota and Iowa State College, and lec- tured at the London School of Economics. A member of the Research Staff of the National Bureau of Economic Research since 1941, he also belongs to the American Philosophical Society, the American Economic Association, the Royal Economic Society, the Econometric Society (Fel- low), and the American Statistical Association (Fellow), and he is a past president of the American Economic Association. In 1971 he was named Vice Chairman of the Securities Investors Protective Commission, and in 1969-70 he was a member of the Blue Ribbon Defense Panel. In 1960-61 he was Chairman of the Price Statistics Review Committee of the National Bureau of Economic Research. In 1954- 55 he was a member of the Attorney General’s Committee for Study of Anti-Trust Laws. He is the author of many articles in the field of economics, as well as a number of books includ- ing which was first pub- lished in 1946; Capital and Rates of Return in Manufacturing, 1963; The Intellectual and the Market Place and Other Essays, 1963; Essays in the History of Economics, 1965; The Organiza- tion of Industry, 1968; The Behavior of Indus- trial Prices (with J.
    [Show full text]