Property and Prophets: The Evolution of Economic Institutions and Ideologies

Property and Prophets is an excellent exposition of alternative views on capitalism. I enjoyed reading the book for three main reasons: 1) It does a good job explaining the advent of capitalism and how this system differs form it predecessors. 2) It focuses on economics more than economists (as opposed to the Worldly Philosophers). 3) It gives you view of past and modern economic theory and practice that you are unlikely to encounter in mainstream economic books, popular press articles, or lectures. All that being said the text is somewhat short for all the topics it attempts to touch on; however, no student has ever complained about a required text being a little too short. Also, the book is not a stand-alone introduction to economics. What I mean is the author assumes that readers are at least somewhat familiar with modern neoclassical and Keynesian economics (insert your prefix of choice for the latter). Overall, it does do the intended job of introducing the reader to historical and contemporary radical critiques of capitalism. Economists often forget that our discipline, and capitalism in general, has a difficult time answering some pretty basic ethical, anthropological, and metaphysical questions (let alone the hard ones). So reads this book and ponder some of these issues, you might find answers to them and you might not, but remembers as Voltaire said, "Burning is not answering".

This book provides an alternative view of the nature of capitalism. Economics is the lap dog of capitalist ideology. This work provides both an alternative approach as well as historical truths and information that help the reader better understand both economics and capitalism.

Hunt's penetrating vision delivers both the history and the ideas, which have shaped our world. This book is of interest to those well read in economic theory as well as those seeking an introduction to how both its defenders and critics have viewed capitalism. Hunt explains the ideas of great economists like Smith, Ricardo, Malthus, Marx, Veblen and Keynes while insightfully describing the birth and continued evolution of capitalism. While Heilbroner's The Worldly Philosophers elevates the economist as the center of attention Hunt's Property and Prophets returns the emphasis to the arguments for and against capitalism. At the dawn of the 21st century we find ourselves in the midst of a new wave of globalization that has resurrected centuries old debates over the efficacy of markets; those debates are described in this book. Those struggling to put people over profits should reconnect with the centuries of ideological struggle that preceded them and make Hunt's critical perspective required reading.