Higher and lower virtues in commercial societey : Adam Smith and motivation crowding out
Journal
Politics, Philosophy and Economics
ISSN
1470-594X
ISSN-Digital
1741-3060
Type
journal article
Date Issued
2011-11
Author(s)
Herzog, Lisa
Abstract
Motivation crowding out can lead to a reduction of ‘higher' virtues, such as altruism or public spirit, in market contexts. This article discusses the role of virtue in the moral and economic theory of Adam Smith. It argues that because Smith's account of commercial society is based on ‘lower' virtue, ‘higher' virtue has a precarious place in it; this phenomenon is structurally similar to motivation crowding out. The article analyzes and systematizes the ways in which Smith builds on ‘contrivances of nature' in order to solve the problems of limited self-command and limited knowledge. As recent research has shown, a clear separation of different social spheres can help to reduce the risk of motivation crowding out and preserve a place for ‘higher virtue' in commercial society. The conclusion reflects on the performative power of economics, arguing that the one-sided focus on models of ‘economic man' should be embedded in a larger context.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SHSS - Kulturen, Institutionen, Maerkte (KIM)
Refereed
Yes
Publisher
SAGE Publications
Publisher place
Thousand Oaks, CA
Volume
10
Number
4
Start page
370
End page
395
Pages
26
Subject(s)
Division(s)
Eprints ID
211269