A Research in the Adam Smith Problem Consistency or Inconsistency of Smith's ethical and Economical System

The relations between Smith’s thought in The Theory of Moral Sentiments” and The Wealth of Nations, the so called “Das Adam Smith Problem”, can be investigated in terms of his theory of action and theory of virtue. We study “Das Problem” in terms of these theories, and suggest that Smith in The Theory of Moral Sentiments considers morality in such broad terms that we can find some aspect of The Wealth of Nations” within it. In other words, the base of economic analysis is deduced from a part of The Theory of Moral Sentiments. Understanding the complexity of Smith’s accounts, we must take into consideration his situationalist insights. Which allows him to avoid absolutism in studying human phenomenon and so makes possible different interpretations. We examine this hypothesis in order to reconsider “Smith’s Problem” in terms of his theory of action and virtue.