Adam Smith’s Inner Marcus Aurelius

To recap my series on the “Stoic-capitalist” dilemma this far, this predicament consists of the following delicate balancing act: how can we better our condition and at the same time live a life of Stoic virtue in accordance with nature? More to the point, how can we promote our own interest while at the same time promoting the common good? In summary, my solution to this dilemma builds on the “impartial spectator” device in Adam Smith’s Theory of Moral Sentiments. More specifically, I would transform or repurpose Smith’s imaginary observer into a Stoic sage, an inner Marcus Aurelius, if you will. Simply put, instead of trying to become a Stoic sage (an all but impossible task), one consults one’s inner Stoic sage and tries to follow his example as best one can. Let me explain: Although Adam Smith is mostly known today for his great political economy treatise An Inquiry into the Nature and Causes of the Wealth of Nations, during his lifetime he also published another treatise on moral…