Economics as a Moral Science: The Political Economy of Adam Smith

This insightful book offers an original approach to the moral philosophy and economics of Adam Smith. The author proposes new ways of linking Smith's moral theories to his economics, stressing that for Smith, a moral science of economics is not a contradiction in terms, and that moral questions actually lie at the heart of positive and normative economic analysis.

Professor Young examines the methodology and philosophy of Smith's work and considers how morality and economics can be reconciled without sacrificing objectivity and testing. He questions whether economics can or should be a value-free science, and argues that economics can be a useful tool in solving moral problems. He extends the discussion on methodology to consider the concept of self- interest and the formation of moral values by the individual and by society in general. He examines the ethical effects of commercial society on the quality of life and well-being of the individual and society. In addition, the author discusses the themes of justice, fairness, the system of natural liberty, distributive equity and the common good.

Economics as a Moral Science will be of interest to historians of economic thought, philosophers of science and scholars interested in political economy, economic theory and economic methodology.