ABSTRACT
In the many discussions of Adam Smith’s case for commercial society and free enterprise, there has been comparatively little attention paid to a striking parable Smith offers in his Theory of Moral Sentiments regarding a “poor man’s son,” and the lessons that might be drawn from the parable for understanding Smith’s larger argument regarding the morality of commercial society. In this parable, Smith appears to endorse a morally dubious justification for such a society, namely that the rest of us benefit from the fact that the “poor man’s son” is deceived about the benefits of the wealth he pursues. This justification of commercial society seems not only questionable in itself but also seems to conflict with Smith’s own recommended conception of justice. This chapter presents the challenge to commercial society and free enterprise that Smith’s parable poses, shows why the few scholarly discussions of it do not address its core problematic, and suggests an interpretation that might reconcile the moral of the parable with Smith’s larger argument about the aims and proper purposes of commercial society.
