Whos Afraid of Adam Smith?. How the Market Got Its Soul

Peter Dougherty does the near-impossible in this brilliant book . . . [he] makes economics engaging and accessible. –Professor Larry J. Sabato, University of Virginia In this spirited and timely book, Peter Dougherty shows how economists are drawing on Adam Smiths civic writings to illuminate how the market creates not only fiscal capital, but «social capital.» Dougherty demonstrates how Smiths ideas are currently experiencing a renaissance. He then explores several impressive initiatives to demonstrate what todays theoretical and practicing economists are accomplishing in the spirit of Adam Smiths moral sentiments: the institutional reform of transitional and developing economies; the financing of new technological, medical, and educational initiatives; and the economic revival of cities. Capitalism pervades every aspect of our daily life. Peter Dougherty now offers a fascinating peek at its hidden soul.