Henry C. Clark is a visiting professor in the Political Economy Project at Dartmouth College.Eric Allison is the associate director of the Clemson Institute for the Study of Capitalism at Clemson University.

Inequality or economic progress? Greed or wealth creation? Exploitation or mutually beneficial exchange? Virtue destroying or virtue enhancing? Today’s debates always seem to come from diametrically opposite perspectives, but there is a rich tradition of debate about these topics that stretches back for centuries and has often featured more nuanced positions. Clark and Allison have assembled an array of those historical debates as an excellent way for students to enrich their understanding of the moral dimensions of economic growth. Whatever their perspective, readers will find their appreciation for the issues deepened and broadened.

• ContentsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000PART ONE: Greeks and Romans1.1 Plato, Republic, Bk. II.369-374, VIII.550-5561.2 Plato, Laws, Bk. V.742-745, XI.913-9201.3 Aristotle, Nicomachean Ethics, I.4-5, 9-10, V.51.4 Aristotle, Politics, I.8-111.5 Cicero, De Officiis (On Duties), I.14, III.15-17 1.6 Ovid, “The Myth of King Midas” in Metamorphoses, Bk. XI.81-1451.7 Plutarch “Of the Love of Wealth,” in Moralia1.8 Plutarch, “Life of Lycurgus,” in Parallel Lives, §9-11PART TWO: Religious Traditions 2.1 The BibleThe Old Testament: Deuteronomy 15:1-11, 23:19-20, Proverbs 11:28, 13:11The Apocrypha: Sirach 26:29-30, 31:1-11, 38:24-34The New Testament: Matthew 6:19-33, 19:16-20:16, 22:16-22, 25:13-30, John 2:13-16, Acts 2:42-47, ,4:31-35, I Timothy 6:9-10, II Thessalonians 3:7-102.2 Benedict of Nursia, ch. 48, “Of Daily Manual Labor,” in The Rule of St. Benedict2.3 Qur’an: Surah 2:261-281, Surah 4:29-40, Surah 9:34-35, Surah 102:1-82.4 Hugh of St. Victor, Didascalicon, Bk. 2, chs. 20 (“Mechanical Arts”) and 23 (“Commerce”)2.5 Francis of Assisi, “Instances Against Money” in The Lives of St. Francis of Assisi by Thomas of Celano XXXV.65–XXXVIII.682.6 Thomas Aquinas, Summa Theologica, IIa IIae Q. 66 Art. 1-2, Q. 77 Art. 1-42.7 Ibn Khaldun, The Muqaddimah: An Introduction to History, ch. 5, §1-2, 5-6, 8-9, 14PART THREE: Renaissance and Reformation3.1 Benedetto Cotrugli, Treatise on Merchandise, bk. 33.2 Thomas More, Utopia, final pages3.3 Martin Luther, “On Trading and Usury” PART FOUR: The Seventeenth Century4.1 Hugo Grotius—The Rights of War and Peace, I: v-xi4.2 Thomas Hobbes, Leviathan, ch. 134.3 Pieter De la Court, Political Maxims of the State of Holland, chs. 1, 14-15 4.4 John Locke, Second Treatise of Civil Government, ch. 5, “Of Property”PART FIVE: The Eighteenth Century5.1 Bernard Mandeville, “The Grumbling Hive,” in Fable of the Bees5.2 Voltaire, “Presbyterianism” and “Commerce” in Philosophical Letters5.3 Montesquieu, The Spirit of the Laws, XX.1-25.4 David Hume, “Of Commerce,” in Political Discourses5.5 Jean-Jacques Rousseau, Discourse on the Origins of Inequality Among Men, pt. 25.6 Adam Smith, The Theory of Moral Sentiments, V.2.7-165.7 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, I.iiPART SIX: The Nineteenth Century6.1 Benjamin Constant, “On Ancient and Modern Liberty Compared”6.2 Alexis de Tocqueville, Democracy in America, vol. 2, bk. 2, pt. 2, chs. 2, 8, 10, 11, 13, 146.3 Pierre-Joseph Proudhon, What is Property?, selections6.4 Karl Marx, “Alienated (or ‘Estranged’) Labor” in Economic and Philosophic Manuscripts of 18446.5 Frederic Bastiat, The Law, selections6.6 Henry Thoreau, “Economy” in Walden6.7 Samuel Smiles, Self Help ch. 1, paras. 1-9 6.8 William Graham Sumner, “What Social Classes Owe Each Other”6.9 Andrew Carnegie, “The Gospel of Wealth”6.10 Pope Leo XIII, “Rerum Novarum,” paras. 1-15, 19-20 34-38PART SEVEN: The Twentieth Century 7.1 Georg Simmel, “Individual Freedom” in The Philosophy of Money, ch. 47.2 Max Weber, “The Spirit of Capitalism” in The Protestant Ethic and the Spirit of Capitalism7.3 Marcel Mauss, “Moral Conclusions” in The Gift 7.4 John Maynard Keynes, “Economic Possibilities for our Grandchildren”7.5 Ludwig von Mises, Liberalism: The Classical Tradition, ch. 17.6 Ayn Rand, “The Meaning of Money” in Atlas Shrugged, pt. II, ch. 27.7 Friedrich von Hayek, “The Moral Element in Free Enterprise” 7.8 Milton Friedman, “The Social Responsibility of Business is to Increase its Profits,” New York Times Magazine, Sept. 13, 19707.9 John Rawls, “The Concept of Justice in Political Economy,” in A Theory of Justice, ch. 5, §417.10 Robert Nozick, “Distributive Justice,” in Anarchy, State, and Utopia, pt. II, ch. 77.11 Daniel Bell, The Cultural Contradictions of Capitalism, pt. 1, ch. 1.7.12 Irving Kristol, “When Virtue Loses All Her Loveliness,” in Two Cheers for CapitalismIndex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000

Henry C. Clark is a visiting professor in the Political Economy Project at Dartmouth College.Eric Allison is the associate director of the Clemson Institute for the Study of Capitalism at Clemson University.

Inequality or economic progress? Greed or wealth creation? Exploitation or mutually beneficial exchange? Virtue destroying or virtue enhancing? Today’s debates always seem to come from diametrically opposite perspectives, but there is a rich tradition of debate about these topics that stretches back for centuries and has often featured more nuanced positions. Clark and Allison have assembled an array of those historical debates as an excellent way for students to enrich their understanding of the moral dimensions of economic growth. Whatever their perspective, readers will find their appreciation for the issues deepened and broadened.

• ContentsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000PART ONE: Greeks and Romans1.1 Plato, Republic, Bk. II.369-374, VIII.550-5561.2 Plato, Laws, Bk. V.742-745, XI.913-9201.3 Aristotle, Nicomachean Ethics, I.4-5, 9-10, V.51.4 Aristotle, Politics, I.8-111.5 Cicero, De Officiis (On Duties), I.14, III.15-17 1.6 Ovid, “The Myth of King Midas” in Metamorphoses, Bk. XI.81-1451.7 Plutarch “Of the Love of Wealth,” in Moralia1.8 Plutarch, “Life of Lycurgus,” in Parallel Lives, §9-11PART TWO: Religious Traditions 2.1 The BibleThe Old Testament: Deuteronomy 15:1-11, 23:19-20, Proverbs 11:28, 13:11The Apocrypha: Sirach 26:29-30, 31:1-11, 38:24-34The New Testament: Matthew 6:19-33, 19:16-20:16, 22:16-22, 25:13-30, John 2:13-16, Acts 2:42-47, ,4:31-35, I Timothy 6:9-10, II Thessalonians 3:7-102.2 Benedict of Nursia, ch. 48, “Of Daily Manual Labor,” in The Rule of St. Benedict2.3 Qur’an: Surah 2:261-281, Surah 4:29-40, Surah 9:34-35, Surah 102:1-82.4 Hugh of St. Victor, Didascalicon, Bk. 2, chs. 20 (“Mechanical Arts”) and 23 (“Commerce”)2.5 Francis of Assisi, “Instances Against Money” in The Lives of St. Francis of Assisi by Thomas of Celano XXXV.65–XXXVIII.682.6 Thomas Aquinas, Summa Theologica, IIa IIae Q. 66 Art. 1-2, Q. 77 Art. 1-42.7 Ibn Khaldun, The Muqaddimah: An Introduction to History, ch. 5, §1-2, 5-6, 8-9, 14PART THREE: Renaissance and Reformation3.1 Benedetto Cotrugli, Treatise on Merchandise, bk. 33.2 Thomas More, Utopia, final pages3.3 Martin Luther, “On Trading and Usury” PART FOUR: The Seventeenth Century4.1 Hugo Grotius—The Rights of War and Peace, I: v-xi4.2 Thomas Hobbes, Leviathan, ch. 134.3 Pieter De la Court, Political Maxims of the State of Holland, chs. 1, 14-15 4.4 John Locke, Second Treatise of Civil Government, ch. 5, “Of Property”PART FIVE: The Eighteenth Century5.1 Bernard Mandeville, “The Grumbling Hive,” in Fable of the Bees5.2 Voltaire, “Presbyterianism” and “Commerce” in Philosophical Letters5.3 Montesquieu, The Spirit of the Laws, XX.1-25.4 David Hume, “Of Commerce,” in Political Discourses5.5 Jean-Jacques Rousseau, Discourse on the Origins of Inequality Among Men, pt. 25.6 Adam Smith, The Theory of Moral Sentiments, V.2.7-165.7 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, I.iiPART SIX: The Nineteenth Century6.1 Benjamin Constant, “On Ancient and Modern Liberty Compared”6.2 Alexis de Tocqueville, Democracy in America, vol. 2, bk. 2, pt. 2, chs. 2, 8, 10, 11, 13, 146.3 Pierre-Joseph Proudhon, What is Property?, selections6.4 Karl Marx, “Alienated (or ‘Estranged’) Labor” in Economic and Philosophic Manuscripts of 18446.5 Frederic Bastiat, The Law, selections6.6 Henry Thoreau, “Economy” in Walden6.7 Samuel Smiles, Self Help ch. 1, paras. 1-9 6.8 William Graham Sumner, “What Social Classes Owe Each Other”6.9 Andrew Carnegie, “The Gospel of Wealth”6.10 Pope Leo XIII, “Rerum Novarum,” paras. 1-15, 19-20 34-38PART SEVEN: The Twentieth Century 7.1 Georg Simmel, “Individual Freedom” in The Philosophy of Money, ch. 47.2 Max Weber, “The Spirit of Capitalism” in The Protestant Ethic and the Spirit of Capitalism7.3 Marcel Mauss, “Moral Conclusions” in The Gift 7.4 John Maynard Keynes, “Economic Possibilities for our Grandchildren”7.5 Ludwig von Mises, Liberalism: The Classical Tradition, ch. 17.6 Ayn Rand, “The Meaning of Money” in Atlas Shrugged, pt. II, ch. 27.7 Friedrich von Hayek, “The Moral Element in Free Enterprise” 7.8 Milton Friedman, “The Social Responsibility of Business is to Increase its Profits,” New York Times Magazine, Sept. 13, 19707.9 John Rawls, “The Concept of Justice in Political Economy,” in A Theory of Justice, ch. 5, §417.10 Robert Nozick, “Distributive Justice,” in Anarchy, State, and Utopia, pt. II, ch. 77.11 Daniel Bell, The Cultural Contradictions of Capitalism, pt. 1, ch. 1.7.12 Irving Kristol, “When Virtue Loses All Her Loveliness,” in Two Cheers for CapitalismIndex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000

Henry C. Clark is a visiting professor in the Political Economy Project at Dartmouth College.Eric Allison is the associate director of the Clemson Institute for the Study of Capitalism at Clemson University.

Inequality or economic progress? Greed or wealth creation? Exploitation or mutually beneficial exchange? Virtue destroying or virtue enhancing? Today’s debates always seem to come from diametrically opposite perspectives, but there is a rich tradition of debate about these topics that stretches back for centuries and has often featured more nuanced positions. Clark and Allison have assembled an array of those historical debates as an excellent way for students to enrich their understanding of the moral dimensions of economic growth. Whatever their perspective, readers will find their appreciation for the issues deepened and broadened.

• ContentsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000PART ONE: Greeks and Romans1.1 Plato, Republic, Bk. II.369-374, VIII.550-5561.2 Plato, Laws, Bk. V.742-745, XI.913-9201.3 Aristotle, Nicomachean Ethics, I.4-5, 9-10, V.51.4 Aristotle, Politics, I.8-111.5 Cicero, De Officiis (On Duties), I.14, III.15-17 1.6 Ovid, “The Myth of King Midas” in Metamorphoses, Bk. XI.81-1451.7 Plutarch “Of the Love of Wealth,” in Moralia1.8 Plutarch, “Life of Lycurgus,” in Parallel Lives, §9-11PART TWO: Religious Traditions 2.1 The BibleThe Old Testament: Deuteronomy 15:1-11, 23:19-20, Proverbs 11:28, 13:11The Apocrypha: Sirach 26:29-30, 31:1-11, 38:24-34The New Testament: Matthew 6:19-33, 19:16-20:16, 22:16-22, 25:13-30, John 2:13-16, Acts 2:42-47, ,4:31-35, I Timothy 6:9-10, II Thessalonians 3:7-102.2 Benedict of Nursia, ch. 48, “Of Daily Manual Labor,” in The Rule of St. Benedict2.3 Qur’an: Surah 2:261-281, Surah 4:29-40, Surah 9:34-35, Surah 102:1-82.4 Hugh of St. Victor, Didascalicon, Bk. 2, chs. 20 (“Mechanical Arts”) and 23 (“Commerce”)2.5 Francis of Assisi, “Instances Against Money” in The Lives of St. Francis of Assisi by Thomas of Celano XXXV.65–XXXVIII.682.6 Thomas Aquinas, Summa Theologica, IIa IIae Q. 66 Art. 1-2, Q. 77 Art. 1-42.7 Ibn Khaldun, The Muqaddimah: An Introduction to History, ch. 5, §1-2, 5-6, 8-9, 14PART THREE: Renaissance and Reformation3.1 Benedetto Cotrugli, Treatise on Merchandise, bk. 33.2 Thomas More, Utopia, final pages3.3 Martin Luther, “On Trading and Usury” PART FOUR: The Seventeenth Century4.1 Hugo Grotius—The Rights of War and Peace, I: v-xi4.2 Thomas Hobbes, Leviathan, ch. 134.3 Pieter De la Court, Political Maxims of the State of Holland, chs. 1, 14-15 4.4 John Locke, Second Treatise of Civil Government, ch. 5, “Of Property”PART FIVE: The Eighteenth Century5.1 Bernard Mandeville, “The Grumbling Hive,” in Fable of the Bees5.2 Voltaire, “Presbyterianism” and “Commerce” in Philosophical Letters5.3 Montesquieu, The Spirit of the Laws, XX.1-25.4 David Hume, “Of Commerce,” in Political Discourses5.5 Jean-Jacques Rousseau, Discourse on the Origins of Inequality Among Men, pt. 25.6 Adam Smith, The Theory of Moral Sentiments, V.2.7-165.7 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, I.iiPART SIX: The Nineteenth Century6.1 Benjamin Constant, “On Ancient and Modern Liberty Compared”6.2 Alexis de Tocqueville, Democracy in America, vol. 2, bk. 2, pt. 2, chs. 2, 8, 10, 11, 13, 146.3 Pierre-Joseph Proudhon, What is Property?, selections6.4 Karl Marx, “Alienated (or ‘Estranged’) Labor” in Economic and Philosophic Manuscripts of 18446.5 Frederic Bastiat, The Law, selections6.6 Henry Thoreau, “Economy” in Walden6.7 Samuel Smiles, Self Help ch. 1, paras. 1-9 6.8 William Graham Sumner, “What Social Classes Owe Each Other”6.9 Andrew Carnegie, “The Gospel of Wealth”6.10 Pope Leo XIII, “Rerum Novarum,” paras. 1-15, 19-20 34-38PART SEVEN: The Twentieth Century 7.1 Georg Simmel, “Individual Freedom” in The Philosophy of Money, ch. 47.2 Max Weber, “The Spirit of Capitalism” in The Protestant Ethic and the Spirit of Capitalism7.3 Marcel Mauss, “Moral Conclusions” in The Gift 7.4 John Maynard Keynes, “Economic Possibilities for our Grandchildren”7.5 Ludwig von Mises, Liberalism: The Classical Tradition, ch. 17.6 Ayn Rand, “The Meaning of Money” in Atlas Shrugged, pt. II, ch. 27.7 Friedrich von Hayek, “The Moral Element in Free Enterprise” 7.8 Milton Friedman, “The Social Responsibility of Business is to Increase its Profits,” New York Times Magazine, Sept. 13, 19707.9 John Rawls, “The Concept of Justice in Political Economy,” in A Theory of Justice, ch. 5, §417.10 Robert Nozick, “Distributive Justice,” in Anarchy, State, and Utopia, pt. II, ch. 77.11 Daniel Bell, The Cultural Contradictions of Capitalism, pt. 1, ch. 1.7.12 Irving Kristol, “When Virtue Loses All Her Loveliness,” in Two Cheers for CapitalismIndex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000