Exploring Adam Smith's Transition and Views on Justice and Politics

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The chapter delves into Adam Smith's transition from exploring moral sentiments to elaborating on natural jurisprudence and political economy. It discusses the distinction between natural and positive law and the impact of laws on areas like commerce and policy making. Smith's views on justice, political harmony, and the conflicts between government intervention and natural liberty are explored in the context of the French Revolution.

Dan Klein, of George Mason University, talks with EconTalk host Russ Roberts about Adam Smith's lesser-known masterpiece, The Theory of Moral Sentiments. Klein highlights key passages and concepts of the book including its relation to The Wealth of Nations, Smith's willingness to accept "vague, loose, and indeterminate" rules rather than precise ones, Smith's criteria for assessing what is moral and what is not, and Smith's conception of justice. This podcast is part of the EconTalk Book Club on The Theory of Moral Sentiments. It will be followed by four bonus podcasts in the coming weeks going through the book systematically. Interested listeners who wish to do the reading in advance can find the schedule along with more background on the book on the EconTalk book club page, accessible from the EconTalk home page.