I’m going to give everyone my list of 10 books of philosophy that have really enlightened my thinking about life and how to live it. Granted these blurbs aren’t supposed to be full summaries, but will hopefully prod everyone into questioning some of the things about ourselves and in society that go unquestioned. I've included links on the titles to free versions of the texts, when possible. Enjoy.
Number One:
“In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.”
Economists quote him. Business students read him. People from Milton Friedman to Karl Marx, to Ronald Reagan have used him. Yet, Adam Smith is best known for only half his philosophy. So, first on the list, believe it or not, is that paragon of economics, Adam Smith. Smith is much maligned and worshipped. Both attitudes are born of a severe ignorance by both his enthusiasts and critics. The reason? There is a complete lack of knowledge of Smith’s moral philosophy. The Wealth of Nations didn't come out of the blue. To truly understand Smith's economic masterpiece one must understand its moral foundation. Without Smith's essential prequel the famous (or infamous) Wealth of Nations is easily misconstrued, perverted, or disallowed.
It is not the love of our neighbour, it is not the love of mankind, which upon many occasions prompts us to the practice of those divine virtues. It is a stronger love, a more powerful affection, which generally takes place upon such occasions; the love of what is honourable and noble, of the grandeur, and dignity, and superiority of our own characters.
Borrowing the idea from Hutcheson, Smith appropriately deposits the premise of his economics in a seedbed of moral philosophy -- the rights and wrongs, the whys and why-nots of human behavior and relationships. He demonstrates our moral ideas and actions are a product of our nature as social creatures. It argues that sociology, psychology, and communication are better guides to moral action than straightforward reason. It identifies the basic sentiments of empathy, prudence, and justice needed for society to survive, and explains the additional beneficent, actions that enable it to flourish. Concern for one’s own interest and concern for the public interest - the common good - are inseparable. Benevolence is essential and to the advantage of the individual. That is not what we hear about today.
Smith's capitalism is far from a heartless, cruel, greed-motivated, love-of-profits-at-any-cost approach to the marketplace, when seen in the context of his moral philosophy. The Theory of Moral Sentiments corrects the impression that Smith was a laissez-faire capitalist. In fact, his moral philosophy a priori critiques the objectivist, self-interested capitalism of Ayn Rand. In fact, although Smith was in theory against regulations and government interference in the marketplace, he was NOT blind to the fact that unadulterated self-interest needed to be regulated when undue burdens and unfair practices abound.
Smith was, in fact, very critical of businessmen. Indeed, the viewpoints expressed in Moral Sentiments make it clear that the popular conception of Smith as first and foremost a money-making, capitalistic economist concerned with wealth does not mesh well with his own philosophy.
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