The Theory of Moral Sentiments

Adam Smith 1723-1790 – a Scottish economist, philosopher, and one of the founders of modern economic science. Author of An Inquiry into the Nature and Causes of the Wealth of Nations – the foundation of classical political economy. Adam Smith's Theory of Moral Sentiments is on par with the Ethics of Benedict Spinoza and the Critique of Practical Reason by Immanuel Kant in significance. Adam Smith asserts that the reason for people's striving for wealth, the reason for ambition, is not the necessity to achieve material well-being, but mainly the desire to stand out, attract attention, evoke approval, praise, sympathy, or to obtain accompanying benefits. According to Smith, the main goal of a person is the satisfaction of vanity, not wealth or pleasure. Wealth brings a person to the forefront, making them the center of universal attention. Poverty means obscurity and oblivion.