Teutocapitalism

From Adam Smith’s defence of the power of self-interest to modern liberal defences of free trade, we typically associate the intellectual basis of capitalism and markets with Anglo-American thinkers. In doing so, we neglect a powerful alternative tradition of German origin: teutocapitalism.

In this brilliant work of intellectual reconstruction, Philipp Robinson Rössner looks at some of the classic questions of economic theory: how do countries grow rich? Why do some nations develop whilst others remain poor? How do markets work? – through this unfamiliar but powerful lens. He shows how the 'teutocapitalists', with their distinctive emphasis on the morally, culturally, and historically embedded nature of economic institutions, the importance of broad measures of public happiness, and a more production-focussed and pragmatic approach to economic statecraft, formulated an enduringly valuable alternative to British, American, and French perspectives on economics.

Rössner demonstrates how this tradition and its ideas represent a rich historical tool for deepening our contemporary economic understanding. No-one interested in economic history or modern debates about economic policy can afford to miss this highly original new book.