Despite a high and growing global average income, billions of human beings are still condemned to lifelong severe poverty, with all its attendant evils of low life expectancy, social exclusion, ill health, illiteracy, dependency, and effective enslavement. This problem is solvable, despite its magnitude.

This paper evaluates the economic assumptions of economic theory via an examination of the capitalist transformation of creditor–debtor relations in the 18th century. This transformation enabled masses of people to obtain credit without moral opprobrium or social subordination. Classical 18th century economics had the ethical concepts to appreciate these facts. Ironically, contemporary economic theory cannot. I trace this fault to its abstract representations of freedom, efficiency, and markets. The virtues of capitalism lie in the concrete social relations and social meanings (...) through which capital and commodities are exchanged. Contrary to laissez faire capitalism, the conditions for sustaining these concrete capitalist formations require limits on freedom of contract and the scope of private property rights. (shrink)

This is an important book precisely because there is none other quite like it.

Is morality rational? In this book Gauthier argues that moral principles are principles of rational choice. He proposes a principle whereby choice is made on an agreed basis of cooperation, rather than according to what would give an individual the greatest expectation of value. He shows that such a principle not only ensures mutual benefit and fairness, thus satisfying the standards of morality, but also that each person may actually expect greater utility by adhering to morality, even though the choice (...) did not have that end primarily in view. In resolving what may appear to be a paradox, the author establishes morals on the firm foundation of reason. Gauthier's argument includes an account of value, linking it to preference and utility; a discussion of the curcumstances in which morality is unnecessary; and an application of morals by agreement to relations between peoples at different levels of development and different generations. Finally, he reflects on the assumptions about individuality and community made by his account of rationality and morality. (shrink)

Political philosophy and feminist theory have rarely examined in detail how capitalism affects the lives of women. Ann Cudd and Nancy Holmstrom take up opposing sides of the issue, debating whether capitalism is valuable as an ideal and whether as an actually existing economic system it is good for women. In a discussion covering a broad range of social and economic issues, including unequal pay, industrial reforms and sweatshops, they examine how these and other issues relate to women and how (...) effectively to analyze what constitutes 'capitalism' and 'women's interests'. Each author also responds to the opposing arguments, providing a thorough debate of the topics covered. The resulting volume will interest a wide range of readers in philosophy, political theory, women's studies and global affairs. (shrink)