This book has 2 recommendations

Ryan Holiday (Founder / Brass Check)

I was heartily recommend this book by Dr. Drew and since the last book he recommended changed my life as a young man, I did not hesitate to get it. Now this is a tough book, a really tough book, but it is amazing. People think of Adam Smith as being this ruthless economist who studied self-interest but this forgotten book reveals that he was in fact, a great moral and practical philosopher. It is clear to me that Smith was profoundly influenced by the Stoics and by the great classic thinkers of history. Intimidated? Well, good news! It turns out Penguin published a new book this year called How Adam Smith Can Change Your Life by Russ Roberts and it happens to be an eminently accessible access point into Theory of Moral Sentiments. (In fact, I liked both so much, I am buying copies to send as a package to a handful of close friends) I hope you pick up either book and I hope its deep thoughts on the pursuit of fame, of money, and of course, his concept of the “indifferent spectator” to guide your actions, make you think as much as they did for me.

Barack Obama (Former USA President / )

Obama, unsurprisingly, appears to be more drawn to stories sympathetic to the working classes than is McCain. Obama cites John Steinbeck’s “In Dubious Battle,” about a labor dispute; Robert Caro’s “Power Broker,” about Robert Moses; and Studs Terkel’s “Working.” But he also includes Adam Smith’s “Wealth of Nations” and “Theory of Moral Sentiments” on his list.

Amazon description

In his first major work, economist Adam Smith concentrates on ethics and charity. The Theory of Moral Sentiments divides moral philosophy into four parts: Ethics and Virtue; Private rights and Natural liberty; Familial rights (called Economics); and State and Individual rights (called Politics). Smith establishes the intellectual framework for all of his later work, including The Wealth of Nations.

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