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This is volume 16 in the "Major Conservative and Libertarian
Thinkers" series. The Scottish philosopher Adam Smith (1723-1790)
was as a pioneer of political economy. In fact, his economic
thought became the foundation of classical economics and his key
work, "An Inquiry into the Nature and Causes of the Wealth of
Nations", is considered to be the first modern work in economics.
For Smith, a free competition environment was the best way to
foster economic development that would work in accordance with
natural laws. The framework he set up to explain the free market
remains true to this day. "Major Conservative and Libertarian
Thinkers" provides comprehensive accounts of the works of seminal
conservative thinkers from a variety of periods, disciplines, and
traditions - the first series of its kind. Even the selection of
thinkers adds another aspect to conservative thinking, including
not only theorists but also writers and practitioners. The series
comprises twenty volumes, each including an intellectual biography,
historical context, critical exposition of the thinker's work,
reception and influence, contemporary relevance, bibliography
including references to electronic resources, and an index.
A central contested issue in contemporary economics and political
philosophy is whether governments should redistribute wealth. In
this book, a philosopher and an economist debate this question.
James Otteson argues that respect for individual persons requires
that the government should usually not alter the results of free
exchanges, and so redistribution is usually wrong. Steven McMullen
argues that governments should substantially redistribute wealth in
order to ensure that all have a minimal opportunity to participate
in economic life. Over the course of the exchange, the authors
investigate a number of important questions. Is redistribution
properly a question of justice, and what is the appropriate
standard? Has the welfare state been effective at fighting poverty?
Can we expect government intervention in the economy to be helpful
or counterproductive? Are our obligations to help the poor best met
through government action, or through private philanthropy and
individual charity? The book features clear statements of each
argument, responses to counterarguments, in-text definitions, a
glossary of key terms, and section summaries. Scholars and students
alike will find it easy to follow the debate and learn the key
concepts from philosophy, politics, and economics necessary to
understand each position. Key Features: Offers clear arguments
written to be accessible to readers and students without a deep
background in economics, philosophy, or political theory. Fosters a
deep exchange of ideas with responses from each author to the main
arguments. Provides in-text definitions and a glossary with
definitions of key terms. Includes section summaries that give an
overview of the main arguments and a comprehensive bibliography for
further reading.
A central contested issue in contemporary economics and political
philosophy is whether governments should redistribute wealth. In
this book, a philosopher and an economist debate this question.
James Otteson argues that respect for individual persons requires
that the government should usually not alter the results of free
exchanges, and so redistribution is usually wrong. Steven McMullen
argues that governments should substantially redistribute wealth in
order to ensure that all have a minimal opportunity to participate
in economic life. Over the course of the exchange, the authors
investigate a number of important questions. Is redistribution
properly a question of justice, and what is the appropriate
standard? Has the welfare state been effective at fighting poverty?
Can we expect government intervention in the economy to be helpful
or counterproductive? Are our obligations to help the poor best met
through government action, or through private philanthropy and
individual charity? The book features clear statements of each
argument, responses to counterarguments, in-text definitions, a
glossary of key terms, and section summaries. Scholars and students
alike will find it easy to follow the debate and learn the key
concepts from philosophy, politics, and economics necessary to
understand each position. Key Features: Offers clear arguments
written to be accessible to readers and students without a deep
background in economics, philosophy, or political theory. Fosters a
deep exchange of ideas with responses from each author to the main
arguments. Provides in-text definitions and a glossary with
definitions of key terms. Includes section summaries that give an
overview of the main arguments and a comprehensive bibliography for
further reading.
Adam Smith wrote two books, one about economics and the other about morality. How do these books go together? How do markets and morality mix? James Otteson provides a comprehensive examination and interpretation of Smith's moral theory and demonstrates how his conception of morality applies to his understanding of markets, language and other social institutions. Considering Smith's notions of natural sympathy, the impartial spectator, human nature and human conscience, the author addresses whether Smith thinks that moral judgments enjoy a transcendent sanction.
You have heard of the Seven Deadly Sins: pride, greed, lust, envy,
gluttony, wrath, and sloth. Each is a natural human weakness that
impedes happiness. In addition to these vices, however, there are
economic sins as well. And they, too, wreak havoc on our lives and
in society. They can seem intuitively compelling, yet they lead to
waste, loss, and forgone prosperity. In this thoughtful and
compelling book, James Otteson tells the story of seven central
economic fallacies, explaining why they are fallacies, why
believing in them leads to mistakes and loss, and how exorcizing
them from our thinking can help us avoid costly errors and enable
us to live in peace and prosperity.
What exactly is capitalism, and why do its advocates support it?
What are the main objections to capitalism that have been raised by
its critics? Are there moral reasons to support capitalism, or to
oppose it? In this time of globalization and economic turbulence,
these questions could not be more timely or more important. This
book provides some answers through seminal readings on the nature,
purpose, and effects of capitalism as understood by its most
influential expositors, both historical and contemporary. In
addition to Adam Smith himself, the selections gathered here
include essays and excerpts by thinkers ranging from Locke and
Rousseau to Hayek and Cass Sunstein. All are chosen and arranged to
highlight the ways that capitalism bears on a set of fundamental
human concerns: liberty, equality, social order, virtue and
motivation. If you want to develop an informed judgment about
whether markets and morality mix, this anthology is a good place to
begin.
You have heard of the Seven Deadly Sins: pride, greed, lust, envy,
gluttony, wrath, and sloth. Each is a natural human weakness that
impedes happiness. In addition to these vices, however, there are
economic sins as well. And they, too, wreak havoc on our lives and
in society. They can seem intuitively compelling, yet they lead to
waste, loss, and forgone prosperity. In this thoughtful and
compelling book, James Otteson tells the story of seven central
economic fallacies, explaining why they are fallacies, why
believing in them leads to mistakes and loss, and how exorcizing
them from our thinking can help us avoid costly errors and enable
us to live in peace and prosperity.
Adam Smith studied under Francis Hutcheson, befriended David Hume
and went on to become one of the chief figures of the Scottish
Enlightenment. Smith's "Theory of Moral Sentiments and Inquiry into
the Nature and Causes of the Wealth of Nations" enjoyed
considerable acclaim during his lifetime and have since achieved
canonical status. This anthology collects, for the first time in
one volume, generous selections from each of Smith's books and his
other work, including his lectures on jurisprudence, his history
and philosophy of science, his criticism and belles lettres, and
his philosophy of language. It also includes two important letters
from Hume, as well as Smith's account of Hume's death.
The Scottish philosopher Adam Smith (1723-1790) was as a pioneer of
political economy. In fact, his economic thought became the
foundation of classical economics and his key work, An Inquiry into
the Nature and Causes of the Wealth of Nations, is considered to be
the first modern work in economics. For Smith, a free competition
environment was the best way to foster economic development that
would work in accordance with natural laws. The framework he set up
to explain the free market remains true to this day.
Actual Ethics offers a moral defense of the 'classical liberal'
political tradition and applies it to several of today's vexing
moral and political issues. James Otteson argues that a Kantian
conception of personhood and an Aristotelian conception of judgment
are compatible and even complementary. He shows why they are
morally attractive, and perhaps most controversially, when
combined, they imply a limited, classical liberal political state.
Otteson then addresses several contemporary problems - wealth and
poverty, public education, animal welfare, and affirmative action -
and shows how each can be plausibly addressed within the Kantian,
Aristotelian and classical liberal framework. Written in clear,
engaging, and jargon-free prose, Actual Ethics will give students
and general audiences an overview of a powerful and rich moral and
political tradition that they might not otherwise consider.
Actual Ethics offers a moral defense of the "classical liberal"
political tradition and applies it to several of today"s vexing
moral and political issues. James Otteson argues that a Kantian
conception of personhood and an Aristotelian conception of judgment
are compatible and even complementary. He shows why they are
morally attractive, and perhaps most controversially, when
combined, they imply a limited, classical liberal political state.
Otteson then addresses several contemporary problems - wealth and
poverty, public education, animal welfare, and affirmative action -
and shows how each can be plausibly addressed within the Kantian,
Aristotelian and classical liberal framework. Written in clear,
engaging, and jargon-free prose, Actual Ethics will give students
and general audiences an overview of a powerful and rich moral and
political tradition that they might not otherwise consider.
Adam Smith wrote two books, one about economics and the other about morality. How do these books go together? How do markets and morality mix? James Otteson provides a comprehensive examination and interpretation of Smith's moral theory and demonstrates how his conception of morality applies to his understanding of markets, language and other social institutions. Considering Smith's notions of natural sympathy, the impartial spectator, human nature and human conscience, the author addresses whether Smith thinks that moral judgments enjoy a transcendent sanction.
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