Why do diamonds cost more than water, when water is essential to life? The answer eluded both Smith and Marx before its resolution arrived in the form of the Marginal Revolution.
Episode 177: Guest Russ Roberts on Adam Smith and Libertarian Economics (Part Two)
Continuing with the Econtalk host on the moral aspects of economics, focused by Adam Smith’s The Wealth of Nations and Theory of Moral Sentiments.
Should we sacrifice ourselves to the machine of the economy? How does Smith’s idea of virtue and talk of the “impartial spectator” line up with economic growth?
Listen to part 1 first or get the unbroken, ad-free Citizen Edition. Please support PEL! Learn how to install the Citizen feed on your mobile device. The 2018 Wall Calendar is now available to order!
End song: “Needle Exchange” by Fritz Beer, as interviewed on Nakedly Examined Music #2.
Visit MUBI.com/PEL for 30 days of free curated movies. Check out The Panpsycast podcast at thepanpsycast.com.
Episode 177: Guest Russ Roberts on Adam Smith and Libertarian Economics (Part One)
The host of Econtalk provides his take on our ep. 174 on The Wealth of Nations, and explores with us the idea of emergent economic order. Is the economy more like a machine or a garden or what?
Continue with part 2 or get the full, ad-free, unbroken Citizen Edition. Please support PEL!
Listener discounts: Visit lovepop.com/pel for 3D pop-up cards; simplecontacts.com/pel, promo code PEL; MUBI.com/PEL for curated movies; and Squarespace.com, offer code EXAMINED.
Ep. 177: Guest Russ Roberts on Adam Smith and Libertarian Economics (Citizen Edition)
The host of Econtalk provides his take on our ep. 174 on The Wealth of Nations, and explores with us the idea of emergent economic order. Is the economy more like a machine or a garden or what?
End song: “Needle Exchange” by Punchy; listen to singer/songwriter Fritz Beer interviewed on Nakedly Examined Music #2.
Episode 174: Adam Smith’s “Wealth of Nations” (Part Two)
Continuing on the foundational text of economics. We talk “invisible hand,” “greed is good,” tariffs, unproductive labor, city vs. country, and the education racket.
Listen to part 1 first or get the ad-free Citizen Edition. Please support PEL!
End song: “With My Looks and Your Brains” by The Mr. T Experience. Hear about the singer/songwriter on Nakedly Examined Music #56.
Sponsors: Try blinkist.com/pel for audio condensations of nonfiction books. And visit mubi.com/pel for 30 days of free, curated films.
Episode 174: Adam Smith’s “Wealth of Nations” (Part One)
On the foundational, 1776 text of modern economics. How does the division of labor and our instinct to exchange lead to the growth of wealth? Is the economy sufficiently machine-like to enable us to manipulate its output, or at least to tell us how not to screw it up?
Continues on part 2, or get your unbroken, ad-free Citizen Edition. Please support PEL!
Visit mubi.com/pel for 30 days of free, curated films. Also, visit thetrackr.com/PEL, and use promo code PEL for 20% off a Bluetooth tracking tag.
Ep. 174: Adam Smith’s “Wealth of Nations” (Citizen Edition)
On the foundational, 1776 text of modern economics. How does the division of labor and our instinct to exchange lead to the growth of wealth? Is the economy sufficiently machine-like to enable us to manipulate its output, or at least to tell us how not to screw it up?
End song: “With My Looks and Your Brains” by The Mr. T Experience. Hear about the singer/songwriter on Nakedly Examined Music #56.
Is Capitalism Moral? (Reactions to a Video by Walter Williams)
Yes, capitalism has provided a high standard of living, but how should goods other than monetary ones play into a public policy debate? Mark riffs off of Adam Smith and a video by Walter Williams.
Cognitive and Affective Empathy in Moral Sentiment
[DISCLAIMER: Although I am using a conceptual distinction I got from the embedded Simon Baron-Cohen TEDx talk (where ever he got it from), I am not taking a position on his stance on Autism or Psychopathy. I have no point of view about Autism and have reflected on empathy and psychopathy in this blog before, here and here. I’m interested Continue Reading …
David Hume and Adam Smith in the Context of Eighteenth-Century Moral Philosophy, Part 2
As mentioned in my previous entry, moral philosophy in the eighteenth century was principally concerned with three issues: “the selfish hypothesis,” the nature of moral judgment, and the character of moral virtue. This entry regards the second component: the debate between the rationalists and sentimentalists over the nature and justification of moral judgment. Moral rationalism—exemplified most clearly in modern philosophy Continue Reading …
David Hume and Adam Smith in the Context of Eighteenth-Century Moral Philosophy, Part 1
Moral philosophy in the eighteenth century was principally concerned with three issues. First, was “the selfish hypothesis,” which maintained that all declarations of public interest were ultimately expressions of private interest. Second, was the explanation and justification of moral judgment. And third, was the character of moral virtue. The selfish hypothesis, though largely a minority view, was defended equally by Continue Reading …
Episode 45: Moral Sense Theory: Hume and Smith (Citizens Only)
Discussing parts of David Hume’s Treatise of Human Nature (1740) and Adam Smith’s The Theory of Moral Sentiments (1759).
Where do we get our moral ideas? Hume and Smith both thought that we get them by reflecting on our own moral judgments and on how we and others (including imaginary, hypothesized others) in turn judge those judgments. We lay out the differences between these two gents and discuss whether their views constitute an actual moral theory or just a descriptive enterprise. With guest Getty Lustila.
End song: “Honest Judge” by New People, from Impossible Things (2011) Download the album.
PREVIEW-Episode 45: Moral Sense Theory: Hume and Smith
Discussing parts of David Hume’s Treatise of Human Nature (1740) and Adam Smith’s The Theory of Moral Sentiments (1759).
Where do we get our moral ideas? Hume and Smith both thought that we get them by reflecting on our own moral judgments and on how we and others (including imaginary, hypothesized others) in turn judge those judgments. We lay out the differences between these two gents and discuss whether their views constitute an actual moral theory or just a descriptive enterprise. With guest Getty Lustila.
Topic for #45: Moral Sense Theory: Hume and Smith
Here’s the recorded episode. In Ep. 41, we discussed David Hume’s ethics both providing a challenge for any naturalist (meaning one compatible with a modern scientific world-view) ethics–you can’t deduce “ought” from “is”–and as providing an approach to moral psychology. In this discussion, we grappled with selections from Hume’s Treatise of Human Nature (1740) and Adam Smith’s The Theory of Continue Reading …