This study represents an interpretation of Adam Smith's attitude toward a commercial society based upon natural liberty. In developing the thesis that the two works, The Theory of Moral Sentiments and Wealth of Nations, are logically consistent, it is necessary to establish the reason of reasons why Adam Smith embraced a commercial society based upon the "obvious and simple system of natural liberty." It will be established that he embraced such as system because it allowed the maximum accumulation of capital, which is the manifestation of being truly virtuous as developed in his Moral Sentiments. To go one step further, it will be seen that, so far as Smith is concerned, it is the rising bourgeoisie, the manufacturers and artificers, which is truly virtuous, i.e., accumulates capital.
