After a review of current assessments of Smithian economics, the author stresses the interest of the entire system at historical, sociological and ethical levels. The renewed interest in Smith comes from his ethical positions rather than from his skills as an economic analyst. The solution to the vexing problem of ever finding an acceptable ethics in distribution theory seems to be found somewhere between utilitarian and deontological theories. But neither of these two theories alone succeeds in doing so, as one is easily convinced from a short survey of the existing literature ranging from Hare to Rawls and then to Sen. The priority given by Smith to motives of two kinds at two levels different from utility permits one to have an alternative view to utilitarianism for kinds of ethical premises which belong to three levels of generalization and universalization. His naturalism does not permit one to go very far in that direction however, and much work has still to be done to bridge economics to philosophical systems other than, and distinct from, utilitarianism.