A deep-dive discussion between Ed and Maya exploring Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nationsand Theory of Moral Sentiment and how he measures value in a marriage.
Ed and Maya apply Adam Smith's principles of sympathy, propriety, and economic interest to the family, viewing it as both a vital emotional unit and a fundamental mechanism for social reproduction.
1. The Family as an Ideal Moral Society - Smith views a family governed by mutual love and esteem as a primary example of social harmony. In such a family, parents and children act as companions, where respectful affection from the children meets kind indulgence from the parents. This creates a state of peace, cheerfulness, and contentment that makes the home a "happy commerce" for all members. Conversely, a household marked by jarring contention and "sudden starts of passion" is profoundly uneasy, even when a smooth exterior is attempted for guests.
2. Sympathy and Emotional Regulation - Sympathy is the mechanism through which family members understand and support one another.
3. Sentiment versus the "Sense of Duty" - Smith makes a clear distinction between actions motivated by genuine affection and those motivated by a cold sense of duty.
4. Economic Dynamics and Child Rearing - In The Wealth of Nations, the family is analyzed as an economic unit responsible for the propagation of the species.
5. Education and Personal Development - Parents are seen as having the primary responsibility for the education of children.
6. Succession and Inheritance - Smith critiques the law of primogeniture (the eldest son inheriting everything) as being contrary to the natural law of succession. Under natural law, land and moveables should be divided equally among all children, as the "subsistence and enjoyment may be supposed equally dear to the father" for all of them. He views primogeniture as an institution that supports "family distinctions" and pride but often beggars the younger children of a numerous family.
