"... first, the idea of the propriety of a system organized on the basis of personal gain has not yet taken root. Second, a separate, self-contained economic world has not yet lifted itself from its social context. The world of practical affairs is inextricably mixed up with the world of political, social, and religious life."
- The Worldly Philosophers, Robert Heilbroner
The Wealth of Nations is a treatise on commercial capitalism. It described how it worked and how it came into being. Adam Smith actually referred to commercial capitalism as "the system of perfect liberty". Freedom that included an end to the social impediments of feudal life. The essence of capitalism is economic freedom.
With the recent global financial crises, one may want to ponder about the concepts of capitalism and money. Will there ever be a solution to business cycles? Can capitalism survive?
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