The Theory of Moral Sentiments - Adam Smith - The Theory of Moral Sentiments is a book by Scottish economist Adam Smith, first published in 1759. It contains the framework for his later book, The Wealth of Nations, and is a treatise on moral philosophy and sentiments. The book is split into seven parts: Propriety of Action; Of Merit and Demerit; or, of the Objects of Reward and Punishment; Of the Foundation of our Judgments concerning our own Sentiments and Conduct, and of the Sense of Duty; Of the Effect of Utility upon the Sentiment of Approbation; Of the Influence of Custom and Fashion upon the Sentiments of Moral Approbation and Disapprobation; Of the Character of Virtue; and, Of Systems of Moral Philosophy.