Political Theory

Liberty, Morality, and the Market Order


Classical liberals have long argued that the market order is at the root of the wealth of nations and that the expansion of the market is critical if nations are to develop. Critics of classical liberalism, however, do not see the expansion of the market as an entirely positive or even a benign process. This colloquium explored whether markets promote greater social morality or profound social decay.


Conference Readings

Hayek, F. A. Law, Legislation and Liberty, Volume 2, The Mirage of Social Justice. Chicago: The University of Chicago Press, 1976.

McCloskey, Deirdre N. The Bourgeois Virtues: Ethics for an Age of Commerce. Chicago: University of Chicago Press, 2006.

Mises, Ludwig von. Human Action: A Treatise on Economics. Edited by Bettina Bien Greaves. Indianapolis: Liberty Fund, Inc., 2007.

Röpke, Wilhelm. A Humane Economy: The Social Framework of the Free Market. Wilmington: ISI Books, 1998.

Smith, Adam. The Theory of Moral Sentiments. Indianapolis: LibertyClassics, 1969, 1976.

Weber, Max. Economy and Society: An Outline of Interpretive Sociology (2 volume set). Edited by Guenther Roth and Claus Wittich. Berkeley and Los Angeles: University of California Press, 1978.

Weber, Max. The Protestant Ethic and The Spirit of Capitalism. London and New York: Routledge, 1992.