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Adam Smith & His Sources: The Evil of Independence

2007

Abstract

Smith's celebrated "man of system" passage gives a context in which philosopher and legislator come together, TMS, vi ii ¶ 42. 2 "The reasonings of philosophy, it may be said, though they may confound and perplex the understanding, can never break down the necessary connection which Nature has established between causes and their effects. The causes which naturally excite our desires and aversions, our hopes and fears, our joys and sorrows, would no doubt, notwithstanding all the reasonings of Stoicism, produce upon each individual, according to the degree of his actual sensibility, their proper and necessary effects. The judgments of the man within the breast, however, might be a good deal affected by those reasonings, and that great inmate might be taught by them to attempt to overawe all our private, partial, and selfish affections into a more or less perfect tranquillity. To direct the judgments of this inmate is the great purpose of all systems of morality. That the Stoical philosophy had very great influence upon the character and conduct of its followers, cannot be 4 "... most people thought, if the gods took to dialectic, they would adopt no other system of than that of Chrysippus." (Diogenes Laertius vii § 180). "[O]ften said to be the greatest logician of ancient times. Chrysippus was regarded as the second founder of Stoicism; according to an old saying, 'If there had been no Chrysippus, there would have been no Stoa.' ... It seems likely that Chrysippus was responsible for the final organization of Stoic logic into a calculus." Mates (1953, p. 7).

Key takeaways

  • While the common identification of liberalism with cosmopolitanism (Mill (1866, p. 419), Furniss (1920, p. 6), Heckscher (1935, pp. 35-6), Montes 2007) suggests Stoic roots to Smith's teaching, the Stoics were providentialists and the consensus among scholars is that Smith "never requires belief in God as a condition for his empirical explanations to work" (Fleischacker 2004, p. 45).
  • Second, we sketch Smith's account of Stoic doctrine and the temptation of the Stoics.
  • Epictetus, the former slave who was, for Smith, the "greatest apostle" of the Stoic "contempt of life and death" (TMS, vii ii ¶ 39), asked about the worst case, the "forlorn" state.
  • Many of the broader aspects of Stoic logic link to Smith's enterprise.
  • If we think of the Stoic doctrine that action precedes foresight of advantage, then Smith's explanation of trade, so disconnected from modern economics (Levy 1992, Rubinstein 2000, comes into clearer focus: