Adam Smith's Insights on Racism and the BLM Movement

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1 How Adam Smith would react to the Black Lives Matter movement and the shootings of unarmed black men based on his writings Student Name Tutors Name Institutional Affiliations Course Date

2 How Adam Smith would react to the Black Lives Matter movement and the shootings of unarmed black men based on his writings Activist rallies and turmoil have exposed decades of hidden racism throughout the world, prompting some economists to reevaluate our involvement in these historical events. The analytical equality that characterizes Smith's analysis and the Classical economists who followed in his footsteps is defined by the presupposition that persons are equal in their aptitude for language and commerce. Because of Smith's great belief in the inherent equality of all humans, the disparities between children are hardly noticeable. According to Smith, a philosopher and an ordinary street porter are indistinguishable as children but seem to be "the most distinct individuals" as adults due to the division of labor ( Adam, 2016). For what follows, the universal desire to trade, Smith's impulse to truck and barter, will play a significant role. This article will analyze how Adam Smith would react to the Black Lives Matter movement and the shootings of unarmed black men based on his writings. This will be from Adam Smith's writings to twentieth-century models of racial discrimination, economists' perspectives on race and racism are examined in the following. Today in the era Black Lives Matter movement and the shootings of unarmed black men, Adam Smith would urge the citizens to satisfy their self-interest that only leads to betterment of the society. Racism is something that people have never fully forgotten, and under the capitalist system, morality, meaning, equity, and accountability have always played a part. However, it seems that the balance of power is changing. As a result, the capitalist society that Adam Smith initially predicted may be returning. Adam Smith was a Scottish moral philosopher and political economist of the 18th-century ( Adam, 2016). With The Wealth of Nations, he laid forth the foundational concepts of capitalism, emphasizing personality, expertise, market rivalry, and trade via the "welfare state" of the markets instead of a top-down "visible hand" of the state. Smith is so commonly referred to as "the father of capitalism."

3 As the world mourns the death of George Floyd and the numerous others slain by police brutality and racial injustice, the United States is in a state of tremendous protests in the country and other cities in the world. People throughout the nation have been demonstrating and calling for action since George Floyd was murdered. Many Black people and members of other minority groups continue to suffer due to institutionalized racism in the United States. Through his writing, "wealth of nations," Adams Smith examines how to explain the inequalities in opulence across countries. Adams Smith cites the division of labor, the buildup of wealth, and the lack of rules and regulations that inhibit competition and markets as his economic rationale. However, in addition to economic difficulties, Smith's opinions on the failure to progress were not confined but rather turned equally to politics and the law. Furthermore, Smith's approach to political economics of development has been under-appreciated because of its emphasis on violent conflict. Individuals have little motivation to be productive, save, or invest in the face of episodic violence. Smith said that the circumstances for growth necessitated liberty, trade, and security; and that these conditions first appeared in the cities of the countryside. According to Smith's theory, one of the primary obstacles to economic development is violence. There are many causes of violence, including internal conflicts between factions, lords, regions, or faiths; external aggression by hostile neighbors; and even state-sponsored violence against its people. The reasons for 'slow advancement of opulence' may be examined under these two headings: natural barriers and the oppression of civil administration. Today, society is characterized by many economic inequalities, especially when it comes to Black Americans. Black people have limited access to health care, more prisoners, and high poverty rates ( Hearn, 2018). Smith believes these economic barriers are brought about by valiance, such as Floyd's death. As such, today's Black Lives Matter movement and the shootings of unarmed black men come from societal inequality and violence.

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4 Smith outlines the disastrous consequences of incentives produced by violence and oppression of the civil government. In his writing "wealth of nations," In preparation for the worst, men typically bury and store a large number of their supplies to have them readily available if they face the tragedies to which they perceive themselves as particularly susceptible. Smith believes that we are sociable humans who love the pleasure of expressing our sentiments with others. According to Smith, human beings can communicate with one another because we can put ourselves in the other person's shoes and consider their feelings ( Hearn, 2018). A person's action is either approved or disapproved based on our expectations of how we would respond in a similar situation. Smith explains that human beings expect to see thankfulness when we observe acts of kindness, and we approve of it if we do. It's natural for us to feel animosity when observing an unjustifiable hurt. According to Smith, Gratitude and resentment are the most immediate and direct triggers for reward and punishment. For a person to be seen as deserving of reward, they must seem in our eyes to be the correct and acceptable recipient of thanks; and to be the proper and acceptable recipient of displeasure ( Irwin, 2020). Without equal treatment in today's society for the black minorities and the shootings of unarmed black men, Smith would have participated in the Black Lives Matter Movement. Smith's definition of humanity is sharing the happiness and the sorrows of others are what humanity is all about. As a spectator, individuals are only human if they can sympathize with those suffering, detest those who are injured, and delight in the good fortune of those who are fortunate. Eric Garner, George Floyd, and Breonna Taylor are all examples of victims of violence who are unarmed yet considered guilty of unproven crimes by the police. Despite his above-average consistency, an innocent man is sometimes surprised and shamed by the serious but incorrect imputation of a crime, particularly when that imputation is unhappily backed by certain circumstances that give it an air of possibility ( Irwin, 2020).

5 There is no greater tormentor of the human heart than anger that cannot be satisfied. An innocent guy falsely accused of a notorious or hideous act is subjected to the cruelest affliction that can befall an innocent person. Smith argues that even if an innocent person is falsely accused of a crime, the ensuing anger and resentment will lead to torments if the ensuing resentment cannot be satisfied. Resentment and hunger for revenge, which Smith says are acceptable since they stem from the disapproving actions of police violence, may also be considered as fueled by the community's common empathy. By feeding off of one another's hatred, as well as that of George Floyd's loved ones and friends, the protestors increase not only their resentment and that of the demonstration itself but also the mobilization and involvement of others ( Werhane, 2019). Suppose people add to the purported assumption that the victims were up to no good, the absence of proof for that presumption, the disproportionate brutality used against vulnerable persons, and the fact that all these fatalities are viewed as having too much in common seem like separate incidents. In that case, one might doubt the motive of the injurer. It is possible that the injuries sustained were not caused by accident at random ( Irwin, 2020). It could be because certain individuals can damage another person and do so without fear of repercussions. Systemic racism may be to blame for a lengthy line of similar injuries. If people reject these motives, Smith argues, animosity will reach its zenith, and it begs for retribution. Using the Smithian model, we can better comprehend the outrage felt when police brutality kills go unpunished. According to the Smithian model, human beings sympathize with those harmed inspire us to act more aggressively against those who abuse them. Consequently, they join their schemes of vengeance more enthusiastically ( Werhane, 2019). They feel themselves every moment wreaking upon those who break the rules of society the punishment that our anger tells us is due for their crimes. When individuals see and feel the

6 horror of such behavior, they will be glad to hear that it has been punished appropriately. However, they react differently and become furious when it escapes this through simple retribution. According to Smith, individuals have a complete understanding of wrongdoing and the appropriateness and fitness of inflicting harm on the person who committed it and making him suffer as a result. As such, all of these feelings come from the sympathetic indignation that naturally boils up in our hearts and can be expressed through movements such as the Black Lives Matter movement. People, according to Smith, will begin to see the benefits of considering the needs of others when they have developed a sufficient level of empathy. He argued that capitalism would not function effectively if it did not have enough empathy. Smith's position on capitalism is, of course, far more complex than this ( Werhane, 2019). In contrast to the free- market capitalism, we have come to know, his early vision of capitalism was far more limited. Our human ability for empathy is not bound by governments and rules but rather by our own unique capacity for empathy It is possible to be cynical and say that individuals are only giving lip service or simply want to be heard, no matter what the reason is. Or, maybe, they're just bored at home and sick of being socially isolated, so they've turned to protest as a diversion. Another possibility is that this is a malfunction that will pass, and we will go back to our "old normal" instead of moving to a new "new normal." The financial crisis of 2008 had us believing that things would change, but that didn't happen either ( Adam, 2016). However, there is always room for hope. While COVID-19 has been a major economic disrupter since World War II, anti-racism rallies have extended to all corners of the globe. Consequently, today more than ever before, the need for change is pressing and multifaceted. In conclusion, Smith explains that anger, resentment, and hostility stem from a dislike of someone's motives rather than the negative outcomes of their conduct. Well-founded

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7 resentment is based on an assessment of the feelings and capacities of others. Police brutality is considered a systematic and deliberate targeting of certain persons, implicitly regarded as "lesser" because of their skin color. Such savagery seems to have gone largely unpunished up to this point. Even during a pandemic, hundreds of people seem to have come together to declare "enough is enough," calling for a public outcry. References Adam, S. (2016). The wealth of nations . Aegitas. Hearn, J. (2018). How to read the Wealth of nations (or why the division of labor is more important than competition in Adam Smith). Sociological Theory , 36 (2), 162-184. Irwin, D. A. (2020). Adam Smith's "tolerable administration of justice" and the Wealth of Nations. Scottish Journal of Political Economy , 67 (3), 231-247. Werhane, P. H. (2019). The role of self-interest in Adam Smith's Wealth of Nations. In Systems Thinking and Moral Imagination (pp. 271-280). Springer, Cham.

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