MIME-Version: 1.0
Content-Type: multipart/related; boundary="----=_NextPart_01CD7485.4AAA0060"
This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Windows® Internet Explorer®.
------=_NextPart_01CD7485.4AAA0060
Content-Location: file:///C:/6D7A90D4/Abstract.htm
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset="us-ascii"
Self-interest, Sympathy and the Invisi=
ble
Hand: From Adam Smith to Market Liberalism
Avner Offer
University of Oxford
Abstract
Adam
Smith rejected Mandeville’s invisible-hand doctrine of ‘private
vices, publick benefits’. In The Theory of Moral Sentiments his=
model
of the ‘impartial spectator’ is driven by not by sympathy for o=
ther
people, but by their approbation. Approbation needs to be authenticated, an=
d in
Smith’s model authentication relies on innate virtue, which is
unrealistic. An alternative m=
odel
of ‘regard’ is applied, which makes use of signalli=
ng and
is more pragmatic. Modern versions of the invisible hand in rational choice
theory and neo-liberalism are shown to be radical departures from the ethic=
al
legacy of Enlightenment and utilitarian economics, and are inconsistent with
Adam Smith’s own position.
------=_NextPart_01CD7485.4AAA0060
Content-Location: file:///C:/6D7A90D4/Abstract_files/themedata.thmx
Content-Transfer-Encoding: base64
Content-Type: application/vnd.ms-officetheme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------=_NextPart_01CD7485.4AAA0060
Content-Location: file:///C:/6D7A90D4/Abstract_files/colorschememapping.xml
Content-Transfer-Encoding: quoted-printable
Content-Type: text/xml
------=_NextPart_01CD7485.4AAA0060
Content-Location: file:///C:/6D7A90D4/Abstract_files/header.htm
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset="us-ascii"
------=_NextPart_01CD7485.4AAA0060
Content-Location: file:///C:/6D7A90D4/Abstract_files/filelist.xml
Content-Transfer-Encoding: quoted-printable
Content-Type: text/xml; charset="utf-8"
------=_NextPart_01CD7485.4AAA0060--