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The Idea of Capitalism |
| Section: BOOK WORLD / REVIEWS |
| Author: David Harsanyi |
| Publication: The world & I online |
| Issue Date: 4/1/2003 |
| Size: 2,390 Words, 15,548 Characters |
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THE MIND AND THE MARKET
Capitalism in Modern European Thought
Jerry Z. Muller
New York: Knopf, 2002
448 pp., $30.00
Since when has history been written by the losers?
When Soviet communism fell ignominiously at the end of the twentieth century, a war of economic and political ideas came to an abrupt end, and the domination of globalization and market capitalism began. Nevertheless, when the BBC conducted a series of polls in 1999 asking people to name the greatest men and women of the millennium, the people's choice for "greatest thinker" was the father of communism, Karl Marx. The great European minds of capitalism, Adam Smith and Friedrich Hayek, were nowhere to be found on this list--despite their position as champions of one of history's most ferocious ideological conflicts.
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. . .
... open markets tend to break down barriers between groups. These arguments are nothing new, Muller reveals.
What Muller does conclusively demonstrate is that the question of free markets and capital has been central to European intellectual and political debate since the mid-1700s. The Mind and the Market, an extraordinarily rich look at that history, is compelling and demands our consideration.
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