Smith te Tutarlılık Tartışması Bağlamında Görünmez El Metaforu ve Kendiliğinden Doğan Düzenin İktisat ve Toplum Açısından Önemi

Abstract

This study, deals with the emergence of political economy along with the production of goods and services depending on the capital accumulation process. The Smithian impact in resolving the link between the definition of political economy and distribution and accumulation shall be explained. Moreover, the view that Smith’s works titled The Theory of Moral Sentiments and The Wealth of the Nations contain consistency rather than inconsistency are evaluated in the study. Smith deals with the market and political process in his work titled The Wealth of the Nations. Therefore, it is expressed that the bases of political economy have been established by his work. Moreover, Smith evaluates the moral philosophy in his work titled The Theory of Moral Sentiments which focuses on the importance of concepts like utility and ethics. Accordingly, that the thinkers of Scottish Enlightenment focus on emotions instead of mind and then Smith’s tendency towards emotional rationality realized in consistency are expressed and that these thinkers are turning towards the concept of sympathy is emphasized in this study. Smith, one of the thinkers of Scottish Enlightenment, attempted to describe the desire of people to be accepted, adopted and esteemed in society by the concept of sympathy . Furthermore, Smith mentions that there is a relationship between the concept of sympathy and ethical values . In this context, this study explains the assessment of the concept of sympathy from a social and ethical point of view by the thinkers of Scottish Enlightenment. In addition, it is argued that the idea of spontaneous order and the invisible hand metaphor in Smith have integrity with Smith’s Moral Sentiments Theory . Smith, with the idea of spontaneous order, claims that individuals are pursuing their self-interest in the commercial society, as a result, a collective development can be achieved by this way. In the spontaneous order, there are cooperations and exchanges in the market among people. On the other hand, Smith expresses that public good will reach the highest level with the invisible hand metaphor. Besides, the invisible hand metaphor is an instrument which balance both market and society that has the function of regulatory force. This study, discusses the importance of Smith’s invisible hand metaphor and spontaneous order for economy and society. In the study, it is emphasized on the argument that Smith’s invisible hand metaphor can be explained with work titled The Moral Sentiments Theory. Nevertheless, it is evaluated that the principle of sympathy in The Moral Sentiments Theory is referred to the sense of competition in The Wealth of the Nations and the economic life of the buyer and the seller is realized in a consistent way. In this context, the purpose of the study is to reveal and discuss whether Smith’s invisible hand metaphor and the idea of spontaneous order and also his ideas on economics, society and morality in general are linked to each other or not. As a consequence of the study, it is stated that Smith had tendency toward the ideal of integrating economics and moral behavior in The Theory of Moral Sentiments and The Wealth of the Nations . Moreover, in general, that the Scottish Enlightenment thinkers referred to moral values rather than to the self-interested reason and the discipline of the political economy has developed with Smith is manifested.