Synthesized answer
The provided passages do not directly address the "practical implications" of the theory of moral sentiments.
However, the passages do state that the work "outlines his view of proper conduct and the institutions and sentiments that make men virtuous" [1]. Smith develops his doctrine of the "impartial spectator" for distinguishing right from wrong [1]. The passages also note that society is held together by sympathy, where people naturally share emotions and seek to maximize others' pleasures and minimize their pains, leading to a desire for affection and approval [1].
Synthesized from the book passages below. Chat with the book on Feynman for follow-up.
From the book
Title: The theory of moral sentiments by Adam Smith Description: The Theory of Moral Sentiments, Smith’s first and in his own mind most important work, outlines his view of proper conduct and the institutions and sentiments that make men virtuous. Here he develops his doctrine of the impartial spectator, whose hypothetical disinterested judgment we must use to distinguish right from wrong in any given situation. We by nature pursue our self-interest, according to Smith. This makes independence or self-command an instinctive good, and neutral rules as difficult to craft as they are necessary.…