Socialized View of Man vs. Rational Choice Theory: What Does Smith’s Sympathy Have to Say?

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION

ELIAS L. KHALIL

Abstract: To explain the anomaly of cooperation in finitely repeated games, some economists advance a socialized view of man as an antidote to rational choice theory. This paper confronts these economists insofar as they trace the socialized view to Smith’s theory of sympathy in The Theory of Moral Sentiments (TMS). TMS rather advances a view that anticipates rational choice theory. These economists misinterpret TMS because they fail to realize that Smith’s sympathy actually involves two functions of sympathy: one that determines the optimal decision and another that determines the command of that decision. The dual function of sympathy parallels the two senses of rational choice: rationality as making the optimal decision and rationality as commanding that decision. Thus Smith’s sympathy does not support the socialized view of man.

Ludwig Lachmann’s peculiar status within Austrian economics

VIRGIL HENRY STORR

THE REVIEW OF AUSTRIAN ECONOMICS

Abstract: Lachmann occupies a strange position within modern Austrian economics. He is viewed as something of an outsider and his views are often regarded as outside the mainline of modern Austrian thought. But, on several key issues – especially subjectivism and institutions – Lachmann’s positions are the dominant positions within the school. This article argues that, with little fanfare but in several important respects, Austrian economics has moved in a decidedly Lachmannian direction.

‘A Burthen Too Heavy For Humane Sufferance’: Locke on Reputation

STUART-BUTTLE, T.

HISTORY OF POLITICAL THOUGHT, Volume 38, Number 4

Abstract: Locke emphasized that a concern for reputation powerfully shaped the individual’s conduct. Most scholarship suggests that Locke portrayed this phenomenon in negative terms. This article complicates this picture. A concern for reputation served a constructive role in Locke’s theory of social development, which offered a powerful alternative explanation of the origins of moral consensus and political authority to Hobbes’s. Locke nonetheless suggested that misunderstandings engendered in Christian commonwealths regarding the nature of political and religious authority had impacted negatively on the moral regulation of societies. The forces governing society, which once habituated individuals in beneficial ways, now led them astray.

Marsilius of Padua on Representation

MULIERI, A.

HISTORY OF POLITICAL THOUGHT, Volume 38, Number 4

Abstract: The concept of representation plays an important role in Marsilius of Padua’s major work, the Defensor Pacis. Yet, with a few notable exceptions,Marsilius’ concept of representation has received relatively little attention among recent scholars. The main purpose of this article is to fill this gap and scrutinizeMarsilius’ concept of representation as an autonomous theoretical and political problem in the Defensor Pacis. The paper first surveys the different meanings of repraesentatio that appear in Marsilius’ 1324 work. It then identifies an understanding of political representation — repraesentatio identitatis — that unites most cases in which Marsilius explicitly deploys a political language of representation, whether in the context of secular or church governance. Marsilius’ usage of the concept of repraesentatio identitatis is particularly innovative as it turns a notion coming from corporate theory in civil and canon law into a specifically philosophical-political theory.

Democracy before, in, and after Schumpeter

PHILIP PETTIT

CRITICAL REVIEW

Abstract: The classical model of democracy that Schumpeter criticizes is manufactured out of a variety of earlier ideas, not those of any one thinker or even one school of thought. His critique of the central ideals by which he defines the model—those of the common will and the common good—remains persuasive. People’s preferences are too messy and too manipulable to allow us to think that mass democracy can promote those ideals, as he defines them. Should we endorse his purely electoral model of democracy, then, and accept that people do not exercise any control over government? Not necessarily. We can expand democracy to include the constitutional and contestatory constraints that people impose on their rulers. We may hope that people can rely on such democratic controls to ensure that government operates by community standards.

The Golden Thread of Religious Liberty: Comparing the Thought of John Locke and James Madison

KEVIN VANCE

OXFORD JOURNAL OF LAW AND RELIGION, Volume 6, Issue 2

Abstract: The views of the American founders on religious liberty provide fertile ground for a range of different interpretations of the extent of legal protections for religious liberty and how religious liberty is justified. Although John Locke’s arguments for religious liberty were influential on the American founders, several founders, including James Madison, departed from or developed Locke’s arguments in a way that emphasizes how a human being’s religious obligations can limit the power of civil government. Contemporary religious liberty scholars have emphasized Madison’s apparent departure from Locke in order to help justify legal exemptions for religious practices. Although Locke did not directly link the duty of human beings to worship God according to one’s conscience to the right of religious liberty, I argue that each part of Madison’s argument is already present in Locke.

Edmund Burke on the Question of Commercial Intercourse in the Eighteenth Century

GREGORY M. COLLINS

THE REVIEW OF POLITICS, Volume 79, Issue 4

Abstract: Scholars have noticed that Edmund Burke’s impassioned economic tract in favor of market liberty, Thoughts and Details on Scarcity, appears to be at odds with his political philosophy and rhetorical temperament of prudence and restraint. This essay challenges this interpretation. I contend that Burke’s emotional statements in the writing reflect strong continuities with his earlier reflections and political activities regarding economic issues. From his earliest days in Parliament to his final years, Burke was a firm supporter of commercial liberty, both domestic and foreign. I conclude by arguing that we cannot properly understand Burke’s belief in gradual reform unless we grasp his idea of incremental commercial improvement.