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Correction (10/22): Based on the textual analysis of TMS in my 22 October blog post, I have to update my 21 October post below. To the point, I now see that Adam Smith is using the same set of metaphors … Continue reading →

One of Adam Smith’s most original — and mysterious — ideas in The Theory of Moral Sentiments (TMS) is the impartial spectator. But who or what is this enigmatic entity? My interpretation is based on the actual text of Smith’s … Continue reading →

Last month (September 2025), my colleagues Daniel Klein, Nicholas Swanson, and Jeffrey Young (KSY) published a new paper on Adam Smith’s impartial spectator in the most recent issue of Econ Journal Watch. In summary, KSY claim that Smith’s imaginary spectator … Continue reading →

Nota bene: this is my last blog post (for now) on “the paradox of politics”. In my previous post, we saw James Madison’s ingenious solution to the problem of factions and the tyranny of public opinion: more factions, more opinions … Continue reading →

Nota bene: this is the eighth of a series of blog posts on “the paradox of politics”. “By a faction, I understand a number of citizens, whether amounting to a majority or a minority of the whole, who are united … Continue reading →

Nota bene: this is the seventh of a series of blog posts on “the paradox of politics”. We saw in my previous post how David Hume replaces natural law and social contracts with public opinion, but is the Scottish skeptic … Continue reading →

Nota bene: this is the sixth of a series of blog posts on “the paradox of politics”; footnotes are below the fold. We saw David Hume’s devastating take-down of social contract theories in my previous post — governments and property … Continue reading →

Nota bene: this is the fifth of a series of blog posts on “the paradox of politics”; footnotes are below the fold. “In vain, are we asked in what records this charter of our liberties is registered.” –David Hume, Of … Continue reading →

I will resume my series on the “paradox of politics” with David Hume in my next post. In the meantime, I am sharing the song “Goodbye Stranger” by the British rock band Supertramp. One of the ironies of this all-time … Continue reading →