This paper is attempted to explain the concept of sympathy presented by A. Smith in terms of ethical view point and interpret its relationship to market order and rules.
The concept of sympathy is characterized by not only psychological but also soc...
This paper is attempted to explain the concept of sympathy presented by A. Smith in terms of ethical view point and interpret its relationship to market order and rules.
The concept of sympathy is characterized by not only psychological but also social and historical aspect of human behavior. In this respect, it should be mentioned that this very sympathy is recognized as morality in human social life in general. However, human behavior based on sympathy is evaluated for social justice by "impartial spectator" which is fundamentally rooted in conscience of human being.
The antagonistic controversy between self-interest and altruism in A. Smith's scientific system is solved by the fact that prudence based on self interest motive as well as justice and benevolence supported by altruism show altogether their dependence on sympathy regulated by impartial spectator.
Lastly, it is of specially economic significance to note that individual economic behavior of human in market is seeking to maximize self-interest will have to be led to maximization of social welfare and economic prosperation of society by "invisible hand" by the wisdom of God in terms of not Christianity but Smith's optimistic deism.
Therefore, individual behavior seeking self-interest is supposed to form the rules of market including private ownership right. freedom to compete and to seek maximization of profit and finally to establish the infrastructure for social agreement and consensus, whose force is fundamentally dependent on sympathy of social members.