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Empathy and Competition: A 21st Century View on Adam Smith

smithconftheory-of-moral-sentiments

 

8th MWP Classics Revisited Conference

7 May 2014

Conference  Room

Villa La Fonte, San Domenico di Fiesole

 

 

 

Every year the Max Weber Programme holds a ‘Classics Revisited’ conference, bringing together researchers, postdoctoral fellows and established academics to study the life and work of a defining figure in the history of ideas. Reflecting the values of the Max Weber Programme, the conference is always interdisciplinary in nature, inviting contributions from the political and social sciences, history, law and economics. Past conferences have focused on David Hume, Thomas Hobbes, and Niccolò Machiavelli. This year’s conference turns to the great Scottish Enlightenment figure, Adam Smith.

As well as taking on the perennial question of the compatibility between Smith’s moral and economic ideas, the conference will consider Smith’s standing in relation to current economic thought. The Wealth of Nations is sometimes described as the first systematic attempt to explain the mechanics of capitalism, but how closely does it fit in with modern theories of economic behaviour? Are the specific benefits from trade and competition that Smith envisaged compatible with today’s models? More broadly, could today’s economists benefit from paying closer attention to moral sentiments beyond self-­-interest?

We will likewise consider the relevance of Smith as a normative theorist. His famous ‘impartial spectator’ was intended as a guide to morality and legal adjudication, but it presupposes a spectator with a particular moral code. Does this imply too relativistic a criterion? Put differently, is empathy too much in the eye of the beholder to be the basis for morality?

It is also unclear that the impartial spectator could be a sound basis for legal and political decision-­-making. In this regard, a lingering puzzle among commentators is why Smith never produced a full account of justice, as he had promised in The Theory of Moral Sentiments. Does this failure reveal something about Smith’s views on the nature of just political rule, or about the compatibility of his economic and moral ideas? What substantive conclusions about the proper scope and design of state institutions may be drawn from Smith’s account of institutional development in his ‘historical jurisprudence’?

Organizing committee: Charles Brendon (ECO), Pablo Kalmanovitz (LAW),Robert Lepenies (LAW), Magdalena Malecka LAW), Matthew Hoye (HEC), Valerie McGuire (HEC), Fran Meissner (SPS),
Brandon Restrepo (ECO), Michael Rousakis (ECO) and Jesper Rudiger (ECO) 

Programme (pdf)

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