An Analysis Of Adam Smith’s Virtue Theory

To construct the social moral principles and to cultivate people’s moral emotion, Adam Smith put forward his socialist virtue theory. Currently, our nation is in a period of social transition. The upcoming highly commercial culture brought great challenges to the social ethic. Therefore, it is necessary for us to understand Adam Smith, the economist’s theory of virtue.Adam Smith’s idea of virtue was influenced by his contemporaries, Shaftesbury, Francis Hutchinson, David Hume, whose views were "Moral Sense","benevolence" and "sympathy".That theory became Adam Smith theoretical sources. The virtues of Adam Smith theory is based on compassion and his theory of human nature. The meaning of sympathy here means people feeling the same resonance mutually, which can be transmitted through imagination, when we put ourselves to imagine the plight of others, and thus produce similar feelings and emotional response to others. Adam Smith believed that human nature has two sides. It is both selfish and altruistic. Since the environment plays a major role, human nature may be different in various conditions. It showed the selfish side in economic activities, while the altruistic side in social life. These two sides are connected by the "invisible hand".On the basis of sympathy, with the impartial spectator and the effect of conscience, people will have four virtues. These four virtues can be divided into three categories. One is for self-interest, which is to make oneself happier, that is, precautionary. One is out of altruism, which is to make others happier, that is, kindness and justice. There is still a virtue which can be the guidance for more than three virtues of the practice, that is, self-made virtue. These four virtues can make people’s lives happier and can bring more harmonious to our society. Conscience is a very important role in the formation of virtues. It is gradually formed in the practice of general ethical and requirements, and ultimately the formation of inner virtue, can guarantee the stability of individual behavior and moral. It is the conscience which spurs the existence of a reality on the pursuit of virtue.The virtue theory of Adam Smith has a strong theoretical and practical significance, because he paid much attention to the cultivation of people’s moral character, and focused on the role and the value of virtues. However, each theory should be looked upon with the historical and evolutionary viewpoint. So is the virtue theory. Due to the limitation of times, it also has inadequacies, which should be abandoned.