A defense of the 'classical liberal' political tradition, applied to today's moral and political issues.

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.

Is socialism morally superior to other systems of political economy, even if it faces practical difficulties? In The End of Socialism, James R. Otteson explores socialism as a system of political economy - that is, from the perspectives of both moral philosophy and economic theory. He examines the exact nature of the practical difficulties socialism faces, which turn out to be greater than one might initially suppose, and then asks whether the moral ideals it champions - equality, fairness, and community - are important enough to warrant attempts to overcome these difficulties nonetheless,...

Is socialism morally superior to other systems of political economy, even if it faces practical difficulties? In The End of Socialism, James R. Otteson explores socialism as a system of political economy that is, from the perspectives of both moral philosophy and economic theory. He examines the exact nature of the practical difficulties socialism faces, which turn out to be greater than one might initially suppose, and then asks whether the moral ideals it champions equality, fairness, and community are important enough to warrant attempts to overcome these difficulties nonetheless,...