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- W4312437347 abstract "Abstract Adam Smith’s The Wealth of Nations depicts capitalism in an anti-tragic fashion, meaning that it both regards market societies optimistically and does so by specifically negating the resources of tragic theater. Smithian optimism depends on defining a new form of happiness that depends on economic production rather than action in the ethical or political spheres. Political economy’s new object of study, the population, is a massive agglomerate in which the significance of individual action is lost. And Smith’s distinction between productive and unproductive labor redefines those social classes who previously held a monopoly on action as unproductive laborers. This turn from action manifests itself in Smithian ethics as well, as shown through a reading of The Theory of Moral Sentiments and its treatment of tragic theater. Smithian political economy devalues both tragedy and action. At the same time, however, it provokes a vigorous response on the part of republicanist thinkers such as Adam Ferguson in the eighteenth century and Hannah Arendt in the twentieth. Both Ferguson and Arendt mount defenses of political action and of tragedy that are directed specifically against the Smithian market. Both thinkers, however, succeed only partially in extricating themselves from the toils of political economy." @default.
- W4312437347 created "2023-01-04" @default.
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- W4312437347 date "2017-01-01" @default.
- W4312437347 modified "2023-09-27" @default.
- W4312437347 title "1. “Thy Bloody and Invisible Hand”" @default.
- W4312437347 doi "https://doi.org/10.7208/chicago/9780226433790.003.0002" @default.
- W4312437347 hasPublicationYear "2017" @default.
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