The following questions relate primarily to Lux's Adam Smith's Mistake
1) On page 81 of his text, Lux asks:
According to Smith's own logic, what would an economy look like if in fact benevolence were the determining motive?What, indeed?2) Lux quotes Adam Smith at some length on page 88, noting in part that man
has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He is more likely to prevail if he can interest their self-love in his favor, and shew them that it is for their own advantage to do for him what he requires of them.What can we deduce about Adam Smith's view of human nature from this quote? Are we hopelessly self-interested?3) Is there any difference between self-interest and selfishness? If so, how would you go about distinguishing between these two constructs? Is one more morally praiseworthy than the other?
4) In The Elements of Moral Philosophy, Rachels defines "a virtue as a trait of character, manifested in habitual action, that it is good for a person to have." Lux points out that Adam Smith was a virtue theorist, and that the primary virtues he subscribed to were benevolence and self-interest. What explanation can you offer in defense of the view that self-interst be considered a virtue?
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