Adam Smith’s Bourgeois Virtues in Competition

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Whether capitalism is compatible with morality is a long-standing controversy. We adopt Adam Smith's ethical approach to virtue and we will examine how market competition affects the most relevant virtues of modern business society. Until to a certain extent, competition nurtures and supports virtues such as prudence, moderateism, civilization, diligence, and honesty. There are mechanisms, however, that could have a detrimental effect on the institutions and incentives required for sustaining even those most commercially desirable virtues. Generally, competitive market will be intense if competitive market is good. However, in the long run, the policy of intensifying competition ignores the fostering and support of bourgeois-like virtues and may weaken the continued prosperity of modern business society.

Cautious, temperate, courteous, diligent and honest bourgeois virtues we are thinking here are "ethical business" literature (identified by Albert Hirschman and Adam Smith, David Hume and Montesquieu) is more than mere The needs of the business community chosen to acknowledge that it is compatible is encouraged. Of course, the whole system of Smith, when he understood, adapted to the needs of the business world. Therefore, lack and corruption should be concerned (as Smith lacks courage), but carefully conclude how the consequences of moral prosperity in the commercial society will affect one or all of them There is no doubt.

There is much debate as to whether so-called "moral Adams miss" is compatible with "economic Adams miss". Some scholars believe there is a difference between his argument about morality and virtue and his spontaneous capitalist thinking. Interest; German scholars have created this "Das Adam Smith problem". Other scholars regard this statement as a mere misunderstanding. Richard Zeyss believes that this problem has been misunderstood. "The concept of Smith's moral judgment is not due only to sympathy ... There are at least three main factors in the" virtue "of Smith's male. Kindness prudence is a feature of selfish behavior and is particularly useful in economic pursuit and justice explains "negative virtue" that conforms to public law designed to suppress excessive self-interest To do.