Smith’te Tutarlılık Tartışması Bağlamında Görünmez El Metaforu ve Kendiliğinden Doğan Düzenin İktisat ve Toplum Açısından Önemi

This study, deals with the emergence of political economy along with the production of goods and

services depending on the capital accumulation process. The Smithian impact in resolving the link

between the definition of political economy and distribution and accumulation shall be explained.

Moreover, the view that Smith’s works titled The Theory of Moral Sentiments and The Wealth of the

Nations contain consistency rather than inconsistency are evaluated in the study. Smith deals with the

market and political process in his work titled The Wealth of the Nations. Therefore, it is expressed

that the bases of political economy have been established by his work. Moreover, Smith evaluates the

moral philosophy in his work titled The Theory of Moral Sentiments which focuses on the importance

of concepts like utility and ethics. Accordingly, that the thinkers of Scottish Enlightenment focus

on emotions instead of mind and then Smith’s tendency towards emotional rationality realized in

consistency are expressed and that these thinkers are turning towards the concept of sympathy is

emphasized in this study. Smith, one of the thinkers of Scottish Enlightenment, attempted to describe

the desire of people to be accepted, adopted and esteemed in society by the concept of sympathy.

Furthermore, Smith mentions that there is a relationship between the concept of sympathy and ethical

values. In this context, this study explains the assessment of the concept of sympathy from a social

and ethical point of view by the thinkers of Scottish Enlightenment. In addition, it is argued that the

idea of spontaneous order and the invisible hand metaphor in Smith have integrity with Smith’s Moral

Sentiments Theory. Smith, with the idea of spontaneous order, claims that individuals are pursuing

their self-interest in the commercial society, as a result, a collective development can be achieved by

this way. In the spontaneous order, there are cooperations and exchanges in the market among people.

On the other hand, Smith expresses that public good will reach the highest level with the invisible

hand metaphor. Besides, the invisible hand metaphor is an instrument which balance both market

and society that has the function of regulatory force. This study, discusses the importance of Smith’s

invisible hand metaphor and spontaneous order for economy and society. In the study, it is emphasized

on the argument that Smith’s invisible hand metaphor can be explained with work titled The Moral

Sentiments Theory. Nevertheless, it is evaluated that the principle of sympathy in The Moral Sentiments

Theory is referred to the sense of competition in The Wealth of the Nations and the economic life of the

buyer and the seller is realized in a consistent way. In this context, the purpose of the study is to reveal

and discuss whether Smith’s invisible hand metaphor and the idea of spontaneous order and also his

ideas on economics, society and morality in general are linked to each other or not. As a consequence

of the study, it is stated that Smith had tendency toward the ideal of integrating economics and moral

behavior in The Theory of Moral Sentiments and The Wealth of the Nations. Moreover, in general, that

the Scottish Enlightenment thinkers referred to moral values rather than to the self-interested reason

and the discipline of the political economy has developed with Smith is manifested.