(...) his (Adam Smith's) theory of sympathy rejected…
““(...) his (Adam Smith's) theory of sympathy rejected self-love as the basic motive for behaviour. He also defined virtue as consisting of three elements: propriety, prudence and benevolence. By this he meant propriety or the appropriate control and directing of our affections; prudence or the judicious pursuit of our private interests; and benevolence or the exercise of only those affections that encourage the happiness of others. How poor Adam Smith got stuck with disciples like the market economists and the neo-conservatives is hard to imagine. He is in profound disagreement with their view of society. (V - From Ideology Towards Equilibrium)””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Adam Smith saw virtue as propriety, prudence, and benevolence, opposing the view that self‑interest alone drives behavior.
In simple terms: Virtue includes proper conduct, wise self‑interest, and caring for others.
Key Takeaway
Balance self‑interest with genuine concern for others.
Themes
ethics
economics
human nature
Mood
thoughtful
critical
Type
philosophical
analytical
When to use this quote
- business leadership
- public policy
- education curricula
- personal decision‑making
Key Concepts
virtue ethics
social philosophy
moral psychology
Questions to Reflect On
- How can organizations foster benevolence?
- What role does prudence play in ethical decisions?
A Different Perspective
Modern market focus can overlook moral dimensions, reducing complex motives to profit.