The Analysis Of Adam Smith’s Exchange Ethics

Adam Smith lived in an era which capitalism began to rise, Enlightenment came alive,and society had undergone great changes. Outstanding thoughts of ancestors were importantsource of The Theory of Moral Sentiments and The Wealth of Nations. Adam Smith’s bookscontained rich economic ethic thoughts, especially the exchange ethic thought.Smith embarks from the theory of human nature, he thought that self-interest was theprecondition of Commodity Exchange. At the same time, he also thought that compassion wasanother important nature of human nature. Commodity Exchange has made those two thingsunified. Smith described the economic progress. Natural desire for exchange encouraged firstbarter. The barter made people get benefits. They began to enjoy it. With the development ofproductivity and specialized division of labor, Commodity Exchange promoted thedevelopment of social economy. Adam Smith used the facts to certify the combination ofeconomy and ethics was beneficial to the society, it also beneficial to achieving personalinterests and social interest. His valuable ideas can be reference to contemporary society. Forexample, Smith’s thought told us that wealth and moral were inseparable in socialconstruction. However, Adam Smith’s idea had its limits, such as his view that the laborsurplus value is equivalent to the profits of the capitalist is wrong. Treating the exchangeethics thought, we need to sublation and further develop its cotemporary value.