CAPITALISM'S ACHILLES HEEL Dirty Money and How to

418 NOTES
CHAPTER 8 The Anguish of Adam Smith
Note: Because there are many printings of the works of Adam Smith, references
are identified not by page numbers of a particular edition, but by part,
section, chapter, and paragraph.
1. William Hamilton, ed., “Account of the Life and Writings of Adam
Smith LL.D.,” in Collected Works of Dugald Stewart, vol. 10 (Boston:
Little, Brown, 1858), 6.
2. Ibid., 8.
3. Adam Smith, The Theory of Moral Sentiments, part II, sec. II, ch. 3,
paragraph 1.
4. Ibid.
5. Ibid.
6. Smith, The Theory of Moral Sentiments, part I, sec. I, ch. 1, paragraph 1.
7. Smith, The Theory of Moral Sentiments, part I, sec. I, ch. 1, paragraph 2.
Note: This passage is the first of several quotations of Adam Smith and
Jeremy Bentham in which I take minor liberties with their own texts, either
with punctuation, spelling, or the elimination of some words or
phrases. This is done to modernize or shorten the text and in no case is
intended to alter the meaning.
8. Smith, The Theory of Moral Sentiments, part III, ch. 1, paragraph 6.
9. Smith offers ample detail on this point: “We can never survey our own
sentiments and motives, we can never form any judgment concerning
them, unless we remove ourselves, as it were, from our own natural station,
and endeavour to view them as at a certain distance from us. But
we can do this in no other way than by endeavouring to view them with
the eyes of other people, or as other people are likely to view them. ...
We endeavour to examine our own conduct as we imagine any other fair
and impartial spectator would examine it.” Theory of Moral Sentiments,
part III, ch. 1, paragraph 2.
10. See, for example, D.D. Raphael, ed., British Moralists 1650–1800 (Oxford,
England: Clarendon Press, 1969).
11. See David Hume, A Treatise of Human Nature, first published in
1739–1740.
12. In a lengthy concluding section entitled “Of Systems of Moral Philosophy,”
Smith summarizes as follows: “Self-love, reason, and sentiment,
therefore, are the three different sources which have been assigned for