What Adam Smith Knew: Moral Lessons on Capitalism from Its Greatest Champions and Fiercest Opponents

by James R. Otteson (Editor)

What exactly is capitalism, and why do its advocates support it? What are the central objections raised to capitalism? Are there moral reasons to support capitalism, or to oppose it? This book contains excerpts from seminal historical and contemporary readings exploring the nature, purpose, and effects of capitalism, from the most important expositors themselves. In this time of globalization and economic turbulence, its questions could not be more timely, or important. If you want to develop an informed judgment about whether markets and morality mix, start here.

Genres: Economics, Philosophy

290 pages, Paperback

First published October 21, 2014

About the author

James R. Otteson is an American philosopher and political economist. He is the Thomas W. Smith Presidential Chair in Business Ethics, Professor of Economics, and executive director of the BB&T Center for the Study of Capitalism at Wake Forest University.

Reviews

[Angie Boyter · Rating 3 out of 5]

Definitely a 3+, almost a 4. I really enjoyed the collection of short pieces on various aspects of capitalism from different perspectives. I think I had a slightly harder time reading the older pieces like Adam Smith and Locke and Hume than I did when I first read them over 50 years ago, but they were ultimately understandable. Karl Marx, though, was pure gobbledegook in a number of places no matter how many times I read the passage. Maybe you gotta read Marx's whole book, but, given what these excerpts are like, I am not inclined to!
It should make for good discussion in the Sunday Philosophers.

[Hannah · Rating 2 out of 5]

This was essentially a compilation of old works by theorists and philosophers during the period of time exploring capitalism vs socialism/communism. It really had nothing to do with Adam Smith being right about anything (though the author seems to assert his opinion on pro capitalism in the preface and intro). The title of the book was misleading. The included essays were good to read though.