The Physiology of Political Economy

The Scottish Enlightenment has been described as uniting a concern with the origins and foundations of knowledge with a preoccupation with the useful application of knowledge in schemes of practical improvement. 1 Adam Smith's Inquiry into the Nature and Causes of the Wealth of Nations, which combines a theoretical account of political economy with specific proposals on politico-economic matters, might seem to exemplify such a characterization. For some commentators at the time of its publication, however, Smith's lack of practical experience in the field of trade disqualified any claims he might make to authoritative knowledge. Sir John Pringle, for instance, military surgeon and friend of Smith's, thought that a man "who had never been in trade could not be expected to write well on the subject"; and while Dr. Johnson repudiated this, suggesting that all that was necessary was "extensive views," Pringle's opinion was not unusual. 2 Such objections, interrogating the very basis of Smith's expertise, reiterate, in the context of his work, the same kinds of questions regarding knowledge's provenance which preoccupied his age, and which were indeed addressed by Smith himself. Smith's own account of the formation of philosophical knowledge rests not on the authority of experience but on the role of the imagination; he understood systematic knowledge as an imaginative "machine" or work of fancy created to please and soothe a mind disturbed by phenomena which are observed but unexplained. 3 Smith's account of philosophical [End Page 465] knowledge, in which he would include his own Wealth of Nations, suggests that his own expertise should be judged not on the extent of his personal experience of the matters discussed but on the explanatory power and pleasurable nature of the system which he outlines. With its emphasis on the work of the philosophical imagination, his account also suggests that some of the sources for that system might be somewhat unexpected, a suggestion which this paper will pursue

Scottish Enlightenment · Economic Theory and Institutions · Historical Economic and Social Studies · Philosophical Ethics and Theory

• American Dolorologies

  Open Access•Simon Strick•American Dolorologies•2014

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