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Home > Business and Economics > Economics > Economic theory and philosophy > Capitalism as a Moral System: Adam Smith’s Critique of the Free Market Economy
Capitalism as a Moral System: Adam Smith’s Critique of the Free Market Economy

Capitalism as a Moral System: Adam Smith’s Critique of the Free Market Economy


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About the Book

This powerful and thoroughly documented book overturns many long-held beliefs about Adam Smith. Spencer Pack demonstrates that contrary to popular myth, Adam Smith was not a dogmatic defender of laissez-faire capitalism and neither was he in favour of regressive taxation. The book stresses for the first time the many qualms and problems - indeed the profound ambiguity - which Adam Smith felt toward the capitalist system.

Table of Contents:
Contents: 1. Introduction 2. The Wealth of Nations: The Theoretical Books 3. The Wealth of Nations: The Latter Books 4. Obvious Wealth of Nations Lessons: The Questions of Laissez-Faire and Regressive Taxation 5. The Theory of Moral Sentiments 6. Rhetoric, Science and Smith’s Wealth of Nations 7. Lessons from the Lectures on Jurisprudence 8. Character Formation Under Capitalism: The Downside of Smith’s System of Capitalism 9. Conclusion Bibliography Index

About the Author :
Spencer J. Pack, Professor Emeritus of Economics, Connecticut College, US and Economic Advisor, Hack Venture Capital

Review :
'The most noted figure in the history of economic thought is, of course, Adam Smith. Captured in recent times by free-market ideologues who have never read his work, he is also the most misunderstood. This is a fine treatment of this wise, wonderful, literate and intensely pragmatic scholar.' - John Kenneth Galbraith, Harvard University, US 'Adam Smith is frequently hailed as an early advocate of free enterprise, an enemy of government and a spokesman of the industrial bourgeoisie. In this fascinating book however, Spencer Pack argues that Smith's position on the role of the state in a capitalist society was not so different from that of a modern 20th century liberal (in the American sense of that term). Here is a surprising thesis that will make readers think again not just about Adam Smith but also about capitalism and government intervention under capitalism. This is a book that will appeal to an intelligent layman just as much as to professional economists.' - Mark Blaug, University of London, University of Buckingham, UK and Amsterdam School of Economics, The Netherlands


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Product Details
  • ISBN-13: 9781849801294
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Height: 216 mm
  • No of Pages: 208
  • Width: 138 mm
  • ISBN-10: 1849801290
  • Publisher Date: 30 Apr 2010
  • Binding: Paperback
  • Language: English
  • Sub Title: Adam Smith’s Critique of the Free Market Economy


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