Who's Afraid of Adam Smith? How the Market Got Its Soul

"Economic thinkers and policymakers have long regarded Adam Smith's great work, The Wealth of Nations, as a guide to the mysteries of the market. Now in this spirited and timely book, Peter Dougherty shows how economists are drawing on the Scotsman's civic writings, most notably A Theory of Moral Sentiments, to illuminate how the market creates not only fiscal capital but "social capital." Although the social dimension of economic thinking begun by Smith some two centuries ago has waxed and waned through the years, Dougherty demonstrates how Smith's ideas are currently experiencing a renaissance in a host of cutting-edge policy directions. The book emphasizes this newly revived aspect of Smith's "Enlightenment" thought to underscore the oft-challenged contention that the market is not simply a shortcut to an economic end; quite the opposite: a healthy capitalism is itself a means - arguably the most effective and enduring means - toward a more civil, urbane neighborly society."--BOOK JACKET.