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Does Friendship Stem from Altruism? Adam Smith and the Distinction between Love-based and Interest-based Preferences

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  • Khalil, Elias
Abstract
Friendship-and-love expresses musings about wellbeing—while “wellbeing” is the economist’s substantive satisfaction. Insofar as altruism is about wellbeing, it must differ from friendship-and-love. However, what is the basis of the difference between substantive satisfaction and friendship-and-love? The answer can be found in Smith’s Theory of Moral Sentiments, chapter 2: how “mutual sympathy” differs from “sympathy.” Smith scholars generally miss the uniqueness of “mutual sympathy” and, indeed, fold it under Smith’s “sympathy” (and “empathy”)—with one exception. Robert Sugden highlights the uniqueness of mutual sympathy. However, he goes to the other end, i.e., folds it under Smith’s sympathy-and-empathy”. This paper aims to avoid the folding in either direction. While mutual sympathy originates love-based sociality (friendship-and-love), sympathy-and-empathy originates interest-based sociality (wellbeing that includes altruism). This paper concludes that friendship is neither reducible to altruism nor vice versa. Further, this paper distinguishes this problem from the question regarding the socialization of the individual.

Suggested Citation

  • Khalil, Elias, 2022. "Does Friendship Stem from Altruism? Adam Smith and the Distinction between Love-based and Interest-based Preferences," OSF Preprints ygpmq_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:ygpmq_v1
    DOI: 10.31219/osf.io/ygpmq_v1
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    References listed on IDEAS

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    1. Elias L. Khalil, 2005. "An anatomy of authority: Adam Smith as political theorist," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(1), pages 57-71, January.
    2. Elias L. Khalil, 2001. "Adam Smith and Three Theories of Altruism," Recherches économiques de Louvain, De Boeck Université, vol. 67(4), pages 421-435.
    3. Dhami, Sanjit, 2016. "The Foundations of Behavioral Economic Analysis," OUP Catalogue, Oxford University Press, number 9780198715535.
    4. Benedetto Gui, 2000. "Beyond Transactions: On the Interpersonal Dimension of Economic Reality," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 71(2), pages 139-169, June.
    5. Khalil, Elias L., 2015. "Temptations as Impulsivity: How far are Regret and the Allais Paradox from Shoplifting?," Economic Modelling, Elsevier, vol. 51(C), pages 551-559.
    6. L. Kiesling, 2012. "Mirror neuron research and Adam Smith’s concept of sympathy: Three points of correspondence," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(4), pages 299-313, December.
    7. Elias L. Khalil, 2000. "orignal paper: Beyond natural selection and divine intervention: The Lamarckian implication of Adam Smith's invisible hand," Journal of Evolutionary Economics, Springer, vol. 10(4), pages 373-393.
    8. Khalil, Elias L., 2017. "Socialized view of man vs. rational choice theory: What does smith’s sympathy have to say?," Journal of Economic Behavior & Organization, Elsevier, vol. 143(C), pages 223-240.
    9. Sugden, Robert, 2002. "Beyond sympathy and empathy: Adam Smith's concept of fellow-feeling," Economics and Philosophy, Cambridge University Press, vol. 18(1), pages 63-87, April.
    10. Bernheim, B Douglas & Stark, Oded, 1988. "Altruism within the Family Reconsidered: Do Nice Guys Finish Last?," American Economic Review, American Economic Association, vol. 78(5), pages 1034-1045, December.
    11. Smith, Vernon L. & Wilson, Bart J., 2014. "Fair and Impartial Spectators in Experimental Economic Behavior," Review of Behavioral Economics, now publishers, vol. 1(1-2), pages 1-26, January.
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