The debate about the effects of capitalism on character is a long-running one. In the eighteenth century, Adam Smith worried that, while the division of labor brought wealth, which facilitated human flourishing, the narrowing and repetitive character of work might have deleterious effects. His mixed feelings were shared by many other observers of the emerging commercial order. Today, many prominent thinkers on both left and right question the morality of capitalism.
This is not just an idle philosophical question—it is important for the future of our societies. Will capitalism eventually eat itself? Are economists leading our society to destruction? Will capitalism and the liberal political order be overtaken by authoritarian alternatives?
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