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The Answer Is Transaction Costs « »
Adam Smith's Wealth of Nations: Episode 1 (Background)

1M ago 57:21

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(N.B.: This episode is cross-posted at our partner site, Adam Smith Works. There are lots of resources and background material there, if you want to delve deeper)

The Scottish Enlightenment emerged as a remarkable intellectual movement that shaped modern economics, philosophy, and social science, with Adam Smith at its center developing a dual theory of human nature through his two masterworks.
• Scottish Presbyterian education fostered literacy and critical inquiry despite doctrinal rigidity
• The 1707 Act of Union created unique conditions where Scots pursued intellectual achievement rather than political power
• Scottish universities thrived through student-funded education while Oxford professors "gave up even the pretense of teaching"
• Thinkers like David Hume, Francis Hutchison, and Thomas Reid established key intellectual foundations
• Smith's concept of sympathy involves synchronizing sentiments with others, not just feeling pity
• Justice protects "person, property and promise" as the foundation of social order
• Beneficence is "the ornament" of society while justice is essential to its existence
• Smith was strongly anti-slavery, describing enslaved Africans as "nations of heroes" superior to their captors
• The Theory of Moral Sentiments and Wealth of Nations form a unified system, not contradictory works
• Commercial society requires both moral foundations and economic understanding to function properly
For the complete series on Adam Smith's Wealth of Nations and additional resources, you can also visit Liberty Fund's Adam Smith Works website. For the material on this episode, go here.

APPENDIX:

To reduce transaction costs, here is substantial amount, probably more than you want, of primary and secondary material on Smith and WoN. Enjoy!

Primary Smith Sources From Liberty Fund

1. The Theory of Moral Sentiments (1759/1790). Edited by D. D. Raphael & A. L. Macfie (Indianapolis: Liberty Fund, 1982)
https://oll.libertyfund.org/titles/theory-of-moral-sentiments-and-essays-on-philosophical-subjects

2. An Inquiry into the Nature and Causes of the Wealth of Nations (1776). Edited by Edwin Cannan (Indianapolis: Liberty Fund, original editions 1904, in two vols.): https://oll.libertyfund.org/titles/smith-an-inquiry-into-the-nature-and-causes-of-the-wealth-of-nations-cannan-ed-in-2-vols

3. Lectures on Astronomy (c. 1748). Essays on Philosophical Subjects (1795), which contains Smith’s “History of Astronomy”—based on his lectures.
https://oll.libertyfund.org/titles/theory-of-moral-sentiments-and-essays-on-philosophical-subjects

General Resources

1. Aristotle. (n.d.). Nicomachean ethics. (Jowett translation)

If you have questions or comments, or want to suggest a future topic, email the show at [email protected] !

You can follow Mike Munger on Twitter at @mungowitz

Chapters

1. Introduction to Smith and Scottish Enlightenment (00:00:00)

2. Origins of Scottish Enlightenment (00:08:34)

3. Presbyterian Influence and Educational Reform (00:19:28)

4. The Act of Union's Impact on Scottish Thought (00:31:21)

5. Key Thinkers and Intellectual Influences (00:42:01)

6. Smith's Approach to Human Nature (00:58:46)

7. Theory of Moral Sentiments and Sympathy (01:09:37)

8. Justice, Beneficence, and Propriety (01:19:29)

9. Moral Agency and The Man of System (01:35:07)

10. Integrating Smith's Economic and Moral Philosophy (01:48:11)

61 episodes

#Science #Social Sciences #Michael Munger #Politics #News #Comedy

Adam Smith's Wealth of Nations: Episode 1 (Background)

The Answer Is Transaction Costs

26 subscribers

published 1M ago

MP3•Episode home

Send us a text

(N.B.: This episode is cross-posted at our partner site, Adam Smith Works. There are lots of resources and background material there, if you want to delve deeper)

APPENDIX:

To reduce transaction costs, here is substantial amount, probably more than you want, of primary and secondary material on Smith and WoN. Enjoy!

Primary Smith Sources From Liberty Fund

General Resources

1. Aristotle. (n.d.). Nicomachean ethics. (Jowett translation)

If you have questions or comments, or want to suggest a future topic, email the show at [email protected] !

You can follow Mike Munger on Twitter at @mungowitz

Chapters

1. Introduction to Smith and Scottish Enlightenment (00:00:00)

2. Origins of Scottish Enlightenment (00:08:34)

3. Presbyterian Influence and Educational Reform (00:19:28)

4. The Act of Union's Impact on Scottish Thought (00:31:21)

5. Key Thinkers and Intellectual Influences (00:42:01)

6. Smith's Approach to Human Nature (00:58:46)

7. Theory of Moral Sentiments and Sympathy (01:09:37)

8. Justice, Beneficence, and Propriety (01:19:29)

9. Moral Agency and The Man of System (01:35:07)

10. Integrating Smith's Economic and Moral Philosophy (01:48:11)

61 episodes

#Science #Social Sciences #Michael Munger #Politics #News #Comedy

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The Answer Is Transaction Costs « » Adam Smith's Wealth of Nations: Episode 1 (Background)

If you have questions or comments, or want to suggest a future topic, email the show at [email protected] !

Chapters

1. Introduction to Smith and Scottish Enlightenment (00:00:00)

2. Origins of Scottish Enlightenment (00:08:34)

3. Presbyterian Influence and Educational Reform (00:19:28)

4. The Act of Union's Impact on Scottish Thought (00:31:21)

5. Key Thinkers and Intellectual Influences (00:42:01)

6. Smith's Approach to Human Nature (00:58:46)

7. Theory of Moral Sentiments and Sympathy (01:09:37)

8. Justice, Beneficence, and Propriety (01:19:29)

9. Moral Agency and The Man of System (01:35:07)

10. Integrating Smith's Economic and Moral Philosophy (01:48:11)

Adam Smith's Wealth of Nations: Episode 1 (Background)

If you have questions or comments, or want to suggest a future topic, email the show at [email protected] !

Chapters

1. Introduction to Smith and Scottish Enlightenment (00:00:00)

2. Origins of Scottish Enlightenment (00:08:34)

3. Presbyterian Influence and Educational Reform (00:19:28)

4. The Act of Union's Impact on Scottish Thought (00:31:21)

5. Key Thinkers and Intellectual Influences (00:42:01)

6. Smith's Approach to Human Nature (00:58:46)

7. Theory of Moral Sentiments and Sympathy (01:09:37)

8. Justice, Beneficence, and Propriety (01:19:29)

9. Moral Agency and The Man of System (01:35:07)

10. Integrating Smith's Economic and Moral Philosophy (01:48:11)

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The Answer Is Transaction Costs « »
Adam Smith's Wealth of Nations: Episode 1 (Background)