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Title: The Adam Smith Problem Revisited: A Methodological Resolution
Authors: Wagner-Tsukamoto, Sigmund
First Published: 10-Sep-2013
Publisher: Walter de Gruyter
Citation: Journal des Économistes et des Études Humaines, 2013, 19(1), pp.63-99
Abstract: The Adam Smith problem refers to a claimed inconsistency between the Theory of Moral Sentiments and the Wealth of Nations, regarding the portrayal of human nature in these two books. Previous research predominantly resolved the claimed inconsistency by uncovering virtuous, less selfish character traits in the Wealth of Nations. This article voices caution. I acknowledge – on methodological grounds – fundamental differences regarding the portrayal of human nature in Smith’s behavioral ethics, i.e. the Theory of Moral Sentiments, as compared with Smith’s economic research. The key argument is that Smith’s two books address different research problems and hence do not, need not and cannot adopt the same view of human nature – for methodological reasons, so my argument. Adam Smith scholarship overlooked that Smith himself in considerable degrees understood “economic man” as a heuristic abstraction. I connect to the philosophies of science of Imre Lakatos and Karl Popper.
ISSN: 2194-5799
eISSN: 2153-1552
Version: Publisher Version
Status: Peer-reviewed
Type: Journal Article
Rights: Copyright © 2013 Walter de Gruyter. Deposited with reference to the publisher’s open access archiving policy. The final publication is available at
Appears in Collections:Published Articles, School of Management

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