Episode · EconTalk · 2025-07-07
Russ Roberts & Mike Munger: books mentioned on EconTalk (Jul 2025)
What Is Capitalism? (with Mike Munger)
What is capitalism, really? Drawing on Adam Smith, Douglass North, and his own experience as a teacher and economist, economist Michael Munger of Duke University discusses three stages of economic development with EconTalk's Russ Roberts: voluntary exchange, markets, and capitalism.
Russ Roberts discussed The Truce by Primo Levi, The Theory of Moral Sentiments by Adam Smith, and The Wealth of Nations by Adam Smith.
Books mentioned, in the order they came up
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The Truce
Discussed“I probably talked about it in the episode with um Dwayne Betts when we talked about Primo Levy as well as Ralph Ellison. And in his book, The Truce, where Primo Levy talks about coming back from Awitz and we're trying to get back to Italy, which is a long meandering, painful, and challenging journey. There's an immense amount of”
Where to get it
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The Theory of Moral Sentiments
Discussed“So when you mentioned his earlier book that's the theory of moral sentiments where he says man naturally desires not only to be loved but to be lovely and by using that language he means honored respected praised worth and lovely meaning worthy of honor worthy of respect worthy of praise.”
Where to get it
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The Wealth of Nations
Discussed“And of course, as you say Smith understands we can fool ourselves we can be imperfect but it is some restraint on our self-interest which is the focus of the wealth of nations and the sense in which there's this empathetic impartial spectator idea in the wealth of nations.”
Where to get it
