"The Theory of Moral Sentiments The Theory of Moral Sentiments is a 1759 book by Adam Smith. It provided the ethical, philosophical, psychological, and methodological underpinnings to Smith's later works, including ""The Wealth of Nations"" (1776), ""Essays on Philosophical Subjects"" (1795), and ""Lectures on Justice, Police, Revenue, and Arms"" (1763) (first published in 1896). Broadly speaking, Smith followed the views of his mentor, Francis Hutcheson of the University of Glasgow, who divided moral philosophy into four parts: Ethics and Virtue; Private rights and Natural liberty; Familial rights (called Economics); and State and Individual rights (called Politics). Hutcheson had abandoned the"
"as ""The Wealth of Nations"", is considered his ""magnum opus"" and the first modern work of economics. Smith is widely cited as the father of modern economics. Smith studied moral philosophy at the University of Glasgow and the University of Oxford. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published ""The Theory of Moral Sentiments"". Jeremy Bentham (1748–1832) is well known for beginning the tradition of classical utilitarianism in"
"his uncle in Old Calton Cemetery. David Hume David Hume (; born David Home; 7 May 1711 NS – 25 August 1776) was a Scottish Enlightenment philosopher, historian, economist, and essayist, who is best known today for his highly influential system of philosophical empiricism, skepticism, and naturalism. Hume's empiricist approach to philosophy places him with John Locke, George Berkeley, Francis Bacon and Thomas Hobbes as a British Empiricist. Beginning with his ""A Treatise of Human Nature"" (1739), Hume strove to create a total naturalistic science of man that examined the psychological basis of human nature. Against philosophical rationalists, Hume held"
"David Hume David Hume (; born David Home; 7 May 1711 NS – 25 August 1776) was a Scottish Enlightenment philosopher, historian, economist, and essayist, who is best known today for his highly influential system of philosophical empiricism, skepticism, and naturalism. Hume's empiricist approach to philosophy places him with John Locke, George Berkeley, Francis Bacon and Thomas Hobbes as a British Empiricist. Beginning with his ""A Treatise of Human Nature"" (1739), Hume strove to create a total naturalistic science of man that examined the psychological basis of human nature. Against philosophical rationalists, Hume held that passion rather than reason governs"
"there are no things other than ideas and the minds that house them. There is no such thing as a mind-independent entity. David Hume (1711–1776) was a Scottish philosopher, economist, and historian. His major works, ""A Treatise of Human Nature"" (1739–1740), the ""An Enquiry concerning Human Understanding"" (1748), ""An Enquiry Concerning the Principles of Morals"" (1751), and ""Dialogues Concerning Natural Religion"" (1779) remain widely influential. His ideas regarding free will and determinism, causation, personal identity, induction, and morality still inspire discussion. Hume famously described the problem of induction. He argues that inductive reasoning cannot be rationally employed, since, in order"
"the Nature and Causes of the Wealth of Nations"" happened to coincide not only with the American Revolution, shortly before the Europe-wide upheavals of the French Revolution, but also the dawn of a new industrial revolution that allowed more wealth to be created on a larger scale than ever before. Smith was a Scottish moral philosopher, whose first book was ""The Theory of Moral Sentiments"" (1759). He argued in it that people's ethical systems develop through personal relations with other individuals, that right and wrong are sensed through others' reactions to one's behaviour. This gained Smith more popularity than his"
"of the first students to benefit from scholarships set up by fellow Scot John Snell. After graduating, he delivered a successful series of public lectures at Edinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow, teaching moral philosophy and during this time, wrote and published ""The Theory of Moral Sentiments"". In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith laid the foundations of classical free market economic theory. ""The Wealth of Nations"" was a"
"an economy is for the rate of profit to decline due to diminishing returns in agriculture and increase in population at a Malthusian rate John Stuart Mill John Stuart Mill (20 May 1806 – 8 May 1873), usually cited as J. S. Mill, was a British philosopher, political economist, and civil servant. One of the most influential thinkers in the history of liberalism, he contributed widely to social theory, political theory, and political economy. Dubbed ""the most influential English-speaking philosopher of the nineteenth century"", Mill's conception of liberty justified the freedom of the individual in opposition to unlimited state and"
"protégés David Hume (1711–76), who became a major figure in the sceptical philosophical and empiricist traditions of philosophy, and Adam Smith (1723–90), whose ""The Wealth of Nations"", (1776) is considered to be the first work of modern economics. Hugh Blair (1718–1800) was a minister of the Church of Scotland and held the Chair of Rhetoric and Belles Lettres at the University of Edinburgh. He produced an edition of the works of Shakespeare and is best known for ""Sermons"" (1777-1801), Lectures on Rhetoric and ""Belles Lettres"" (1783). The focus of the Scottish Enlightenment ranged from intellectual and economic matters to the"
"be proved that they never conflict, except by appeal to a divine system of punishments and rewards that Sidgwick believes is out of place in a work of philosophical ethics. The upshot is that there is a ""dualism of practical reason."" Henry Sidgwick Henry Sidgwick (; 31 May 1838 – 28 August 1900) was an English utilitarian philosopher and economist. He held the Knightbridge Professor of Moral Philosophy from the year 1883 until his death, and is best known in philosophy for his utilitarian treatise ""The Methods of Ethics"". He was one of the founders and first president of the"
"Friedrich Hayek Friedrich August von Hayek (; ; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his ""pioneering work in the theory of money and economic fluctuations and [...] penetrating analysis of the interdependence of economic, social and institutional phenomena"". Hayek was also a major social theorist and political philosopher of the 20th century and his account of how changing prices communicate information that"
"John Stuart Mill John Stuart Mill (20 May 1806 – 8 May 1873), usually cited as J. S. Mill, was a British philosopher, political economist, and civil servant. One of the most influential thinkers in the history of liberalism, he contributed widely to social theory, political theory, and political economy. Dubbed ""the most influential English-speaking philosopher of the nineteenth century"", Mill's conception of liberty justified the freedom of the individual in opposition to unlimited state and social control. Mill was a proponent of utilitarianism, an ethical theory developed by his predecessor Jeremy Bentham. He contributed to the investigation of scientific"
"he had taught, namely the London School of Economics, the University of Chicago and the University of Freiburg. A number of tributes have resulted, many established posthumously: Friedrich Hayek Friedrich August von Hayek (; ; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his ""pioneering work in the theory of money and economic fluctuations and [...] penetrating analysis of the interdependence of economic, social"
"precursor to the modern academic discipline of economics. In this and other works, he developed the concept of division of labour and expounded upon how rational self-interest and competition can lead to economic prosperity. Smith was controversial in his own day and his general approach and writing style were often satirised by Tory writers in the moralising tradition of William Hogarth and Jonathan Swift. In 2005, ""The Wealth of Nations"" was named among the 100 best Scottish books of all time. Smith was born in Kirkcaldy, in the County of Fife, Scotland. His father, also Adam Smith, was a Scottish"
"historically in works by authors including James Burnett, Adam Ferguson, John Millar and William Robertson, all of whom merged a scientific study of how humans behave in ancient and primitive cultures with a strong awareness of the determining forces of modernity. Indeed, modern sociology largely originated from this movement. Adam Smith's ""The Wealth of Nations"" (1776) is considered to be the first work of modern economics. It had an immediate impact on British economic policy and still frames twenty-first century discussions on globalisation and tariffs. The focus of the Scottish Enlightenment ranged from intellectual and economic matters to the specifically"
"an Ayrshire poet and lyricist, is now widely regarded as the national poet of Scotland and became a major figure in the Romantic movement. As well as making original compositions, Burns also collected folk songs from across Scotland, often revising or adapting them. Burns's poetry drew upon a substantial familiarity with and knowledge of Classical, Biblical, and English literature, as well as the Scottish Makar tradition. Adam Smith developed and published ""The Wealth of Nations"", the starting point of modern economics. This study, which had an immediate impact on British economic policy, still frames discussions on globalisation and tariffs. The"
"a clear analysis of the difficult theory of international trade and value, in which there is much that is both novel and valuable. The ""Logical Method"" contains an exposition and defence of Ricardo's theory of rent; and the ""Essays"" contain a criticism of Bastiat's economic doctrines. John Elliott Cairnes John Elliott Cairnes (26 December 1823 – 8 July 1875) was an Irish economist. He is often described as the ""last of the classical economists"". John Cairnes was born at Castlebellingham, County Louth. He was the son of William Elliott Cairnes (1787–1863) of Stameen, near Drogheda, and Marianne Woolsey, whose mother"
"An Enquiry Concerning the Principles of Morals An Enquiry Concerning the Principles of Morals (EPM) is a book by Scottish enlightenment philosopher David Hume. In it, Hume argues (among other things) that the foundations of morals lie with sentiment, not reason. ""An Enquiry Concerning the Principles of Morals"" is the enquiry subsequent to the ""Enquiry Concerning Human Understanding"" (""EHU""). Thus, it is often referred to as ""the second Enquiry"". It was originally published in 1751, three years after the first Enquiry. Hume first discusses ethics in ""A Treatise of Human Nature"" (in Book 3 - ""Of Morals""). He later extracted"
"Francis Hutcheson (philosopher) Francis Hutcheson (; 8 August 1694 – 8 August 1746) was an Irish philosopher born in Ulster to a family of Scottish Presbyterians who became known as one of the founding fathers of the Scottish Enlightenment. He is remembered for his book """"A System of Moral Philosophy"""". Hutcheson took ideas from John Locke, and he was an important influence on the works of several significant Enlightenment thinkers, including David Hume and Adam Smith. He is thought to have been born at Drumalig in the parish of Saintfield, County Down, in Northern Ireland. He was the ""son of"
"It was reprinted again in 1755. Although there was a serious political and economic philosophy that derived from Mandeville's argument, it was initially written as a satire on the Duke of Marlborough's taking England to war for his personal enrichment. Mandeville's work is full of paradox and is meant, at least partially, to problematize what he saw as the naive philosophy of human progress and inherent virtue. Adam Smith is remembered by lay persons as the father of capitalism, but his ""Theory of Moral Sentiments"" of 1759 attempted to strike out a new ground for moral action. His emphasis on"
"Alfred Marshall Alfred Marshall, FBA (26 July 1842 – 13 July 1924) was one of the most influential economists of his time. His book, ""Principles of Economics"" (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. Although Marshall took economics to a more mathematically rigorous level, he did not want mathematics to overshadow economics and thus make economics irrelevant to the layman. Marshall was born in London. His father"
"as the author of both ""The Wealth of Nations"" and ""The Theory of Moral Sentiments"", and thereby as the founder of a moral philosophy and the science of economics. His ""homo economicus"" or ""economic man"" was also more often represented as a moral person. Additionally, economists David Levy and Sandra Peart in ""The Secret History of the Dismal Science"" point to his opposition to hierarchy and beliefs in inequality, including racial inequality, and provide additional support for those who point to Smith's opposition to slavery, colonialism, and empire. They show the caricatures of Smith drawn by the opponents of views"
"interest rates. This last point discredits the mainstream views on crowding out and makes Harrod an early progenitor of the Modern Monetary Theory school of economics. Roy Harrod Sir Henry Roy Forbes Harrod (13 February 1900 – 8 March 1978) was an English economist. He is best known for writing ""The Life of John Maynard Keynes"" (1951) and for the development of the Harrod–Domar model, which he and Evsey Domar developed independently. He is also known for his ""International Economics"", a former standard textbook, the first edition of which contained some observations and ruminations (wanting in subsequent editions) that would"
"Alasdair MacIntyre Alasdair Chalmers MacIntyre (; born 12 January 1929) is a Scottish philosopher, primarily known for his contribution to moral and political philosophy, but also known for his work in history of philosophy and theology. MacIntyre's ""After Virtue"" (1981) is widely recognised as one of the most important works of Anglophone moral and political philosophy in the 20th century. He is senior research fellow at the Centre for Contemporary Aristotelian Studies in Ethics and Politics (CASEP) at London Metropolitan University, Emeritus Professor of Philosophy at the University of Notre Dame, and Permanent Senior Distinguished Research Fellow at the Notre"
"Ronald Coase Ronald Harry Coase (; 29 December 1910 – 2 September 2013) was a British economist and author. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991. Coase, who believed economists should study real markets and not theoretical ones, established the case for the corporation as a means to pay the costs of operating a marketplace. Coase is best known for two articles in particular: ""The Nature of"
"Leon MacLaren Leon MacLaren, born Leonardo da Vinci MacLaren, (1910–1994) was a British philosopher and the founder of the School of Economic Science (SES). MacLaren was inspired by Henry George, Socrates, Dr Francis Roles, Pyotr Ouspensky, Maharishi Mahesh Yogi, and finally the philosophy of Advaita Vedānta through the Shankaracharyas of Jyoti Math. MacLaren was born in Glasgow on 24 September 1910. He was the son of Andrew MacLaren, a Labour Member of Parliament who was a staunch advocate of Henry George. Schooled at Rutlish School in Wimbledon, MacLaren later became attracted to the law and trained as a barrister. MacLaren's"
"Gunnar Myrdal Karl Gunnar Myrdal (; 6 December 1898 – 17 May 1987) was a Swedish economist and sociologist. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for ""their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena."" He is best known in the United States for his study of race relations, which culminated in his book """". The study was influential in the 1954 landmark U.S. Supreme Court Decision ""Brown v. Board of Education"". In Sweden his work"
"Classical economics Classical economics or classical political economy is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's ""The Wealth of Nations"" in 1776 is usually considered to mark the beginning of classical economics. The fundamental message in"
"owner"". He nevertheless continued to lead an active life, travelling and lecturing, until his death in December 2004. Douglas Mason Douglas Calder Mason (30 September 1941 – 13 December 2004) was a Scottish policymaker, writer and antiquarian bookseller. He came to be known as the ""father of the poll tax"". He was born Dunfermline, Scotland, the son of an accountant and schoolteacher. He attended Bradford Grammar School, and read geology, then economics, at the University of St Andrews. He embraced libertarianism whilst a student, and became involved in the University's Conservative Association. Under his intellectual leadership, the St Andrews University"
"Millar and William Robertson, all of whom merged a scientific study of how humans behave in ancient and primitive cultures with a strong awareness of the determining forces of modernity. Indeed, modern sociology largely originated from this movement. Adam Smith developed and published ""The Wealth of Nations,"" the first work on modern economics. It had an immediate impact on British economic policy and still frames 21st century discussions on globalisation and tariffs. The focus of the Scottish Enlightenment ranged from intellectual and economic matters to the specifically scientific as in the work of William Cullen, physician and chemist, James Anderson,"
"James Mill James Mill (born James Milne, 6 April 1773 – 23 June 1836) was a Scottish historian, economist, political theorist, and philosopher. He is counted among the founders of the Ricardian school of economics. His son, John Stuart Mill, was also a noted philosopher of liberalism, utilitarianism and the civilizing mission of the British Empire. Although he never set foot in India at any time in his life, James Mill took upon himself the task of writing the monumental ""History of British India"", a classic of colonial self-congratulation which contains a complete denunciation and rejection of Indian culture and"
"from obtaining chairs at Glasgow and Edinburgh. He and other Scottish Enlightenment thinkers developed what he called a 'science of man', which was expressed historically in works by authors including James Burnett, Adam Ferguson, John Millar and William Robertson, all of whom merged a scientific study of how humans behave in ancient and primitive cultures with a strong awareness of the determining forces of modernity. Indeed, modern sociology largely originated from this movement. Adam Smith's ""The Wealth of Nations"" (1776) is considered to be the first work of modern economics. It had an immediate impact on British economic policy and"
"St Andrews. In 1694 he was elected a master in the university of Glasgow – an office that was converted into the professorship of moral philosophy in 1727, when the system of masters was abolished at Glasgow. He died in Glasgow. Sir William Hamilton regarded him as ""the real founder of the Scottish school of philosophy."" He wrote ""Breviuscula Introductio ad Logicam"", a treatise on logic and the psychology of the intellectual powers, combining Arnauld and Nicole with Locke; ""Synopsis Theologiae Naturalis""; and an edition of Pufendorf, ""De Officio Hominis et Civis"", with notes and supplements of high value. His"