This book offers a distinctive moral defense of capitalism. Unlike most such defenses, this book avoids the summoning of concepts and ideas drawn from the modern philosophical tradition that arose out of the 17th-18th century Enlightenment. It rejects the idea of supporting capitalism on the grounds of self-ownership, human dignity, property rights, social utility, or a social contract. Confidence in the power of human reason to demonstrate any of these notions has waned since the Enlightenment, and justifiably so. Capitalism stands in desperate need of different philosophic foundations. This book's thesis is that capitalism can be more sturdily defended on a pre-modern basis. Adopting the ancient Roman philosopher Cicero as a guide, this book acknowledges the limits of human reason. It applies the ancient skepticism that Cicero represents, a school of thought that teaches us to be content with probabilities and to focus upon the practical dimensions of human existence. Philosophical inquiry is best directed to the task of identifying the means of securing both life and the good life for human beings. As such, this book stresses the overriding importance of maintaining social co-operation and advancing human excellence. It argues that capitalism satisfies both these imperatives.

This book offers a comprehensive analysis of the ways that politics and financial markets impact one another. In this relationship, politics is the ultimate controlling force. The kinds and prices of financial instruments that get traded and the individuals and institutions that get to trade them, not to mention the rules under which everyone trades, are all matters decisively influenced by an array of political variables - sometimes for the better, but all too often for the worse. The fault for this political skewing of the markets chiefly lies with democracy. Through its commitment to equality and its inclination towards fiscal profligacy, democracy hinders the markets from acting as a greater force for social good. To fix this skewing of finance, democracy's troubling tendencies must be squarely faced and curbed by a return to its monetary roots. Democracy must reinstall gold at the monetary foundations of our financial markets.