Adam Smith and the Invisible Hand of God

This book explores Adam Smith's moral philosophy, jurisprudence, and economics through a theological lens, highlighting his progressive form of Christian theism and the relevance of the religious dimension in his thought. It interrogates the metaphor of the 'invisible hand' and encourages further inquiry between economic and religious perspectives.

Format: Hardback
Length: 270 pages
Publication date: 07 March 2022
Publisher: Taylor & Francis Ltd

This book makes a significant contribution to the emerging "new view" of Adam Smith, offering a historically and contextually rich interpretation of Smith's thought. Smith constructed a moral philosophy upon the foundations of a natural theology of human sociality. An analysis of his life, his relationship with David Hume, and his use of divine names reveals that he held a progressive form of Christian theism. The book critically examines the metaphor of the "invisible hand" and emphasizes the significance of the religious dimension of Adam Smith's thought in his moral philosophy, jurisprudence, and economics. It reflects on the contemporary relevance of a theological reading of Smith and provides a foundation for further exploration between economic and religious perspectives.

Adam Smith, the renowned Scottish economist, is widely regarded as one of the most influential figures in the history of economic thought. His book, The Wealth of Nations, published in 1776, has profoundly impacted the field of economics and continues to be studied and debated today. In this essay, we will explore the "new view" of Adam Smith, which emphasizes his religious and theological beliefs and their influence on his economic ideas.

One of the key aspects of the "new view" of Adam Smith is its recognition of the importance of religion in his thought. Smith was a devout Christian, and his religious beliefs played a significant role in shaping his economic ideas. According to the "new view," Smith's moral philosophy was rooted in a natural theology of human sociality. He believed that human beings are created in the image of God and that their interactions with each other are guided by a moral code that is inherent in their nature. Smith's economic theories were therefore based on the principles of natural law and the pursuit of individual self-interest, which he saw as being in harmony with the divine plan.

One of the most famous examples of Smith's religious influence on his economic ideas is his metaphor of the "invisible hand." This metaphor refers to the unintended consequences of individual actions that lead to the overall benefit of society. Smith argued that the market economy, driven by the pursuit of self-interest, would ultimately result in the greatest good for all. He believed that the market would self-regulate and that individuals would be motivated by their own self-interest to produce goods and services that would benefit society as a whole.

However, the "new view" of Adam Smith also emphasizes the importance of the religious dimension of his thought in his jurisprudence and economics. Smith believed that the government should play a role in promoting social welfare and that the distribution of wealth should be guided by moral principles. He argued that the government should intervene to prevent the exploitation of workers and to ensure that everyone had access to the basic necessities of life. Smith's economic theories were also influenced by his belief in the importance of free trade and the benefits of international commerce.

In conclusion, the "new view" of Adam Smith provides a valuable perspective on the influence of religion and theology on his economic ideas. It recognizes the importance of Smith's moral philosophy, which was rooted in a natural theology of human sociality, and his belief in the principles of natural law and the pursuit of individual self-interest. The "new view" also emphasizes the importance of the religious dimension of Smith's thought in his jurisprudence and economics, where he argued for the government's role in promoting social welfare and the benefits of free trade.

Dimension: 234 x 156 (mm)
ISBN-13: 9781032137575