THE EDIFYING DISCOURSES OF ADAM SMITH: FOCALISM, COMMERCE, AND SERVING THE COMMON GOOD

Adam Smith’s discourses aim to encourage mores, practices, and public policies in service the common good, or that which a universally benevolent spectator would approve of. The Wealth of Nations illustrates how pursuing our own happiness within bounds prudence commutative justice, we may be said, literally metaphorically, cooperate with God furthering humankind. Theory Moral Sentiments elaborates an ethic, here called “focalism,” instructs us proportion beneficent efforts knowledge ability. relationship between political economy focalism is bidirectionally reinforcing. In one direction, ethic contributes moral authorization self-love, thereby invigorating dignifying honest commercial activities. other insights reinforce by elaborating through prudent commerce focal beneficence, cooperate, even if only grand social enterprise.