The Mind and the Market: Capitalism in the Modern European Thought

A remarkable history of the idea of capitalism in Western thought–—from its origins in classical Greece and Rome and in medieval Christianity, through its flowering from 1700 to the present day—that examines the most significant thinkers who have influenced our views on how the market can (and should or should not) affect the way society is organized. Capitalism is too complex a subject to be left to economists, and achieving a critical comprehension of it requires perspectives beyond those characteristic of modern economics. European thinkers have debated the cultural, moral, and political effects of capitalism for centuries, and their claims have been many and diverse. Historian Jerry Muller tracks this fascinating thread, setting out what the best and brightest—from Hobbes to Hayek, and across the ideological spectrum, including Voltaire, Adam Smith, Edmund Burke, Hegel, Marx, and Matthew Arnold, as well as twentieth-century communist, fascist, and neoliberal intellectuals—have thought about the ramifications of capitalism and its future implications. In doing so, he also shows how antisemitic stereotypes about Jews and their relationship to money have played an ongoing role in the interpretation of capitalism. The result is a compelling history of ideas and a riveting exploration of questions—about wealth and poverty, capitalism and culture, the individual and the state, and the role of intellectuals within market societies—that still compel our attention. Muller presents a brilliant history of the idea of capitalism in western thought--from its origins in classical Greece, Rome, and medieval Christianity, through its flowering from 1700 to the present day--which examines the most significant thinkers who have influenced views on how the market can (and should or should not) affect the way society is organized To distinguish the novel from the perennial in modern debates about the moral worth of a society organized around the market, we must recall the characteristic attitudes of the great traditions of European thought toward commerce and the systematic pursuit of material gain through trade.