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From Vanity to the Love of Systems, from Luxury to the Accumulation of Capital, from the Gaze of Others to the Endless Process

Author

Listed:
  • Benoît Walraevens

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

  • Daniel Diatkine

    (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne)

Abstract

It is well known that Book II of the Wealth of Nations (WON) insists on a passion common to all of us, the "desire to better our condition": a desire which, though generally calm and dispassionate, comes with us from the womb, and never leaves us till we go into the grave. This chapter describes focuses on the links between vanity and luxuries in Theory of Moral Sentiments (TMS), studying three chapters in which they play a prominent role. It describes the famous parable of the poor man's son. The chapter also discusses the usual interpretation, which explains the poor man's son behaviour by vanity only. It shows how the love of systems seems to create a bridge between TMS and WON, that is, between luxuries and capital. Satisfying vanity is undoubtedly for Smith the aim of the acquisition of luxuries. More precisely, vanity generates the distinction between luxuries and other goods (necessaries and conveniencies).

Suggested Citation

  • Benoît Walraevens & Daniel Diatkine, 2018. "From Vanity to the Love of Systems, from Luxury to the Accumulation of Capital, from the Gaze of Others to the Endless Process," Post-Print halshs-02063764, HAL.
    • Handle: RePEc:hal:journl:halshs-02063764
    as

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