The tension between self-interest and morality is one of the strongest and longest-running themes in Western philosophy. It rests on the question of how far, if at all, it is morally permissible to be selfish.

Debates about the moral status of self-interest came to a head in the eighteenth century, around the same time that European nations were experiencing the emergence of so-called commercial societies. The link between consumption and national prosperity was clear to many, which left moral philosophers wondering what function selfishness—which was traditionally considered a vice or sin—might have to play in the modern world.

This talk investigates how different thinkers grappled with the moral dilemmas surrounding self-interest in the eighteenth century. Its central character is Adam Smith, the author of The Wealth of Nations (1776) who is often regarded as the father of modern capitalism. It shows how Smith debated two of his intellectual predecessors, Bernard Mandeville and Bishop Butler, and argues that while Smith reimagined self-interest as a moral good, he ultimately remained pessimistic about our capacity to lead virtuous and morally rich lives under capitalism.

Philip Argenio is a PhD candidate in the ANU School of History. His research area is intellectual history, focusing primarily on eighteenth-century Britain.