Adam Smith and the positive/normative dichotomy: A critical exploration of the debate within his writings

Abstract

The present master’s thesis explores the usage of elements of the positive-normative debate in Economics in the works of Adam Smith. It seeks to assess whether his writings can be interpreted as fitting into the strict dichotomization that arose during the XXth century within the field, or if, on the contrary, they should be viewed as necessarily intertwining positive and normative elements. Being condemned as "unscientific" during the XIX century, with the emergence of the strict dichotomization in the XX century interpretations of Smith tended to follow the reasoning of the strict dichotomization, either highlighting an overarching positive goal across his writings, or a normative one. Drawing on Smith's lesser explored essay "The Principles which lead and direct Philosophical enquiries; as illustrated by The History of Astronomy" (1795), and his books of "The Theory of Moral Sentiments" (1759), and "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), the thesis argues that instead Smith consistently interconnected positive and normative elements. This is done through the employment of a historical and textual analysis. By revisiting Smith's works, the study contributes to ongoing discussions on the relationship between facts and values in economics while offering a different analysis lens on Smith.

A presente tese de mestrado explora o uso de elementos do debate positivo-normativo na Economia nas obras de Adam Smith, avaliando se os seus escritos podem ser interpretados como enquadrando-se na dicotomia rígida que surgiu no século XX na disciplina, ou se, pelo contrário, entrelaçam elementos positivos e normativos. Condenado como “não científico” durante o século XIX, com o surgimento da dicotomia rígida no século XX, as interpretações de Smith tenderam a seguir o raciocínio dessa divisão, destacando ou um objetivo maioritariamente positivo nos seus escritos, ou um normativo. Através de uma análise histórica e textual dos escritos "The Principles which lead and direct Philosophical Enquiries; as illustrated by The History of Astronomy" (1795), "The Theory of Moral Sentiments" (1759) e "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), é argumentado que Smith interliga consistentemente elementos positivos e normativos. Ao revisitar as obras de Adam Smith, o estudo contribui para as discussões em curso sobre este debate, enquanto oferece uma nova perspetiva de análise das obras analisadas.