Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: riverdawg

Adam Smith wrote another book called, “The Theory of Moral Sentiments”

“How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.”


37 posted on 01/12/2012 10:43:29 AM PST by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
[ Post Reply | Private Reply | To 33 | View Replies ]


To: dfwgator
“How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.”

There is nothing in that quote which contradicts my (and Adam Smith's) earlier point, in case you missed it, that an individuals’ motives are irrelevant to the operation of a free market. I assume that Bain Capital was motivated only by it's investors’ self interests rather than by “the fortune of others.” It is not set up as a charitable organization. When I invest in a company, I want it to maximize my return, within the confines of the legal and regulatory environment in which it operates. When I give to a charity, I want it to maximize “the fortunes of others” whom it helps. “The Wealth of Nations” quote is applicable to market behavior and the quote from “The Theory of Moral Sentiments” is applicable to charitable behavior. Too many people want to conflate the two spheres.

56 posted on 01/12/2012 11:18:55 AM PST by riverdawg
[ Post Reply | Private Reply | To 37 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson