An Inquiry Into Adam Smith's Theory Of Economic Justice

With the development of market economy, economic power has been becoming stronger and stronger. However, our social economic problems have not been resolved thereby. These complicated and serious facts draw people's attention so greatly than ever before to the problem of economic justice.This essay takes Adam Smith's theory of economic justice, who is regarded as the father of modern economics, as the subject-matter, and tries to throw some light on the problem of economic justice. Adam Smith's theory of economic justice is not only a natural result of the western cultural development from Greek to 18th. century, but also a necessary result of the economic, political situation of his own time and his theorization. By reading of his two key books entitled by The Theory of Moral Sentiment and An Inquiry into the Nature and Cause of the Wealth of Nations, we can see the world of Adam Smith is both economic and moral. The harmony of economy and morality is the central content and axiological expectation of his theory of economic justice. I deem the economic justice of Adam Smith as an original but most precious resource by which we would be able to take full hold of the theory of economic justice.The essay begins with the conception of economic justice in Adam Smith's moral world, and shows the necessary role of justice serve as "the main pillar that upholds the whole edifice". The just dimension of economic world is emphasised by my essay, it discusses his rational concerning and justice project into economic justice with three aspects, including academic plan of Adam Smith's "economic justice", social agent and social practice of economic justice, which constitutes the body of economic justice. The essay also introduces other important ideas in details, such as the economic aim of the better behalf of nation and people, economic system of natural liberty, private system, economic self-interest, the union of morality and welfare, and "social division". These ideas have great significance both for modern economics and for modern society itself. Adam Smith's theory of economic justice has made a systemic demonstration for the rationality of market economy running over globe right now. As a result, his ideas vindicate the market economy system of capitalism, and support the whole capitalism system itself.Anyway, the limitation of Adam Smith's understandings about market economy entails some shortages of Adam Smith's theory of economic justice. Based on the historical materialism, Marxist economy animadverted the classic plutonomy which is delegated by Adam Smith, and established it's own theory of economic justice, which develops the theory of economic justice much more rationally, therefore, offering a proper scientific theoretic guidance for us to work out a possible good ethics for socialistic market economy.