Adam Smith Notes

Biography:

• 5 June 1723: born in Kirkcaldy

• 1737-1740: studied in U of Glasgow

• 1740-1746: a Snell exhibitioner at Balliol College, Oxford

  • 1745: Jacobite Rebellion

• 1748-51: Edinburgh Lectures

  • 1749-50: met Hume

• 1751-64: Professor of Logic and Metaphysics in Glasgow

  • 1759: publication of TMS

• 1764-66: his years in Europe

• 9 March 1776: publication of WN

Upbringing:

• born in minor gentry, Presbyterianfamily. Father educated in law and was involved in Scottish politics. Died before Smith was born. Smith raised by mother Margaret Smith. His family was interested in ‘improving’ their estates and the local economy.

• Kirkcaldy in economic downturn. Mercantile economy was weak. No. of ship registered declined to only 3 in 1760. Size of town shrank by half compared to the century before. Though there were signs of economic recovery, led by growth of linen industry in the early years of Anglo-Scottish Union. Seeing firsthand the profound economic transformation the Union was brining to his town (14) in WN, Smith was to pay attention to the role a small town can play in shaping the commerce of the state.

• Friendship: family close with the Oswalds of Dunnikier, the most important local landed family. Played a signifiant role in Kirkcaldy's economic recovery. He was particular close to James Oswald, who was later to become an MP. Not into party politics, but studied the workings of government diligently

• School: as a schoolboy read the Enchiridion of Epictetus—where his Stoic influence came from. Tempered by Cicero's ethics. Shows that contemplation is not the only way to virtue—it is possible to live with regards to public good. Smith calls it ‘imperfect, but attainable virtues’ and ‘the practical morality of the Stoics’

• The Spectator (drawing direct Stoic influence in the name: ethics is seeing ourselves as other see us) edited by Addison and Steele, taught Smith how the teachings of ancients can be adapted to the modern commercial society. Emphasised the friendship of strangers instead of isolating oneself by following austere Epictetan values, because strangers cultivate tolerance, a wider world view and the respect for sense of propriety— ‘sociable Stoicism’ ==> Smith developed a view of seeing human beings as ‘agents whose lives and happiness depend on their ability to cultivate the moral and intellectual skills they need to live sociably’

As a student

• Glasgow: spectacular transformation at the time. Pop was growing rapidly, sea trade rivalled Bristol and Liverpool. It was tobacco trade that floated the city's economy. By 1760s tobacco trade controlled by three giant syndicates—Alexander Spears, John Glassford and William Cunninghame. They played an important role not only in econ development but in development of infrastructure too—who Smith had in mind when he talked about the spirit of the merchants. A lot of these merchants were also purchasing agricultural land for improvement. He had this in mind when talking about the retrograde order of Europe.

• In U of Glasgow: taught by Robert Simson on geometry. But most important influence was Francis Hutcheson, the Chair of Moral Philosophy at the time.

• In U of Oxford: he read Marivaux, a French moralist. Published the French version of the Spectator (Spectateur Français). Marivaux wrote aboutpsychology, which was useful to Smith in understanding humans as beings of passions, and our desire to be approved and to approve—developed a more complex view of morality. Commented in TMS that in that instance Marivaus and the like more important than Epictetus. It was also where he encountered Hume. Funny anecdote—he was caught reading Treatise of Human Nature, and was reprimanded because it was heretical.

Scottish Enlightenment:

• no doubt hat Scotland was a ‘failing nation’ at the time, with underdeveloped feudal economy and inefficient international trade. No one doubted that problem lied in the exiting union with England. A new union was to be negotiated. Some thought Scot Parliament could be reincorporated, some opted for a federal union, where Scot parliament retained its freedom. Anxieties about the nation and esp the landed elite were to underpin Edinburgh's enlightenment

• Attitude to commerce was an important question then. The greatest appeal to the union was the free access to English markets at home and abroad. But some worried that Scotland's wealth and independence will be compromised in favour of luxury.

• Culturally: Edinburgh was becoming a cultural centre. There were clubs and coffee meeting inspired by Spectator. Societies like the Philosophical Society was established then.

• Jacobite Rebellion of 1745 destroyed much of the Scottish Highlands.

• Church of Scotland at the time was Presbyterian. They were Calvinist—austere morality. The true Christian is a sceptic, doesn't engage in the world, luxury and comfort. In order to be virtuous, one must deny their self-interest. Young moderate Presbyterians started calling for reforms in Church. They want the church to coexist with the civil lecture, they wanted to be developed as polite gentlemen, wanted religion to be about practical morality, wanted followers to judge others based on manners and morals not religious beliefs.

Teaching career:

• Edinburgh Lectures (1748-51):

  • taught rhetorics and belles lettres. His understanding of systems ofrhetoric was useful in understand the sense of propriety we develop to improve our communication with others. Rhetoric seen in the context of sociability. Communications maintain the society and was crucial in understanding trading too. He saw sociability in developmental terms based on the development and learningof rhetoric.

• Lectures on Jurisprudence delivered in Glasgow (1762-63). Where he talked about the four-stage theory. First developed insight into division of labour, and was already thinking about how government's actions can impact that, and thus the process of exchange. The basis on his attack on monopolies and other forms of govt...

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