Adam Smith and William James on the psychological basis of progress

Abstract

This paper identifies extensive connections between Adam Smith's and William James's accounts of the psychological basis of intellectual, material and moral progress. These connections are brought into focus through discussion of their shared circumspection towards claims to objective truth, which highlights Smith's distance from mainstream interpretations of his contributions to economics. The paper additionally argues that insight into the sustained emphases that Smith and James place upon the role of psychological satisfaction as a motivating factor in societal and personal progress can aid current efforts to draw upon their work and to reconcile the disciplines that they are widely credited with founding.