Lexington Books Freedom and Economic Order: Capitalism and Socialism in Theory and Practice

Freedom and Economic Order is the second of three volumes comprising a comprehensive study of freedom and American society. The book explores the economic dimension of freedom as historically conceived within American constitutional order and examines the two major modern economic paradigms, capitalism and socialism, from both utilitarian and moral perspectives. Topics include the theory and practice of both capitalism (the market process) and socialism (the planned economy); the Marxist critique of capitalism; the conceptions of justice and social justice correlative to capitalism and socialism, respectively; and the ethics of wealth redistribution. Volume I, Freedom and Political Order, examines the meaning of freedom and the legal and political dimensions of American liberal democracy. Volume III, Limited Government and the Death of God, explores the historical rise of freedom in the West and various modern and postmodern threats to the preservation and vitality of the free society. Review Freedom and Economic Order offers a comprehensive analysis of the epistemic, incentive, and ethical aspects of alternative forms of economic organization. Linda Raeder convincingly argues that capitalism is the superior system for promoting human flourishing. At a time when capitalism is increasingly under attack, this timely book is required reading for those concerned with human freedom and well-being.--Christopher J. Coyne, George Mason University This book is a gem on several fronts. First, it is timely by addressing the foremost salient issue confronting American politics, i.e., the relevance of the original constitutional order in American politics. Second, it is timeless, because it presents a scholarly resource to explain how either to sustain or recover that order by understanding the ideas that both support and dismantle it.--Marshall Derosa, Florida Atlantic University This is a beautifully lucid, careful and well-informed analysis of the relation between various ideas of 'freedom' and the real world of politics and business; with plenty of useful ammunition for American 'conservatives' concerned at the seeming popularity of 'socialist' doctrines in their country. An excellent introduction for all literate readers who want to follow, or take part in, current political debates.--A. M. C. Waterman, professor emeritus of economics, University of Manitoba A rare achievement. Professor Raeder's work is both accessible and profound. She explains economics in terms of the inescapable problem of scarcity--and the role our responses to this problem play in buttressing (or undermining) human liberty. Focusing on the American tradition, Professor Raeder provides insights relevant to all societies struggling to address human wants and needs while maintaining individual freedom. Scholars, students, and general readers all will benefit greatly through engagement with this important book.--Bruce P. Frohnen, Ohio Northern University About the Author Linda C. Raeder is professor of politics at Palm Beach Atlantic University.