On Morality, Human Behaviour and Economics

For as long as the concept has existed, capitalism has been critiqued by its opponents for its alleged immorality. Collectivist thinkers and politicians have blamed the capitalist system for everything from environmental degradation to human failures like racism, misogyny, and greed. Some defenders of markets have embraced such criticisms, revelling in the supposed amorality of a market system. Yet, as this book shows, there is also a rich history of scholars who explained that the expansion of trade, a well-functioning market economy and higher living standards can be achieved in line with moral and ethical principles. Indeed, the market economy is rooted in morality, and this is precisely an approach classical political economists explored. This collection of essays by contemporary scholars covers a range of disciplines, including philosophy, theology, sociology, political science and economics. The insights within remind readers that there are strong arguments for the morality of free-market capitalism.