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One of humanity's greatest achievements is the market economy. Since the late-eighteenth century, it has radically reduced poverty and created opportunities for millions who might otherwise have been condemned to lives of misery. Yet despite these accomplishments, markets have long been accused of causing profound injustices and creating a stultifying materialism that impoverishes the human soul.
But markets are much more than engines of wealth. In The Civilization of Commerce, prize-winning author Samuel Gregg demonstrates that commercial society is a civilizational achievement worthy of emulation. Drawing on the thought of Nobel economist F. A. Hayek and Scottish Enlightenment luminaries such as Adam Smith, Gregg shows how commercial civilization enables individuals to overcome ignorance and isolation, build societies rooted in liberty and justice, and, above all, improve their lives.
Commercial civilization, however, is a fragile achievement, and it faces perennial threats: from rationalizers who seek ever-growing top-down control over our lives, and romantics who reject complexity and idealize a poorer, less free world. As Gregg shows, these regressions erode the rule of law, stifle innovation, and deliver us into new forms of servitude.
Resisting these challenges requires more than good policies. It demands a culture grounded upon knowledge, dynamism, and institutions that, together, deliver freedom, order, and economic growth. Advancing commercial society, Gregg argues, means embracing it as a civilizational imperative and a mandate for greatness. To skeptics and defenders of markets alike, The Civilization of Commerce offers a framework for understanding and extending a society where prosperity and purpose converge, and reminds us that true progress demands wisdom, discipline, creativity, and a choice for liberty.
“In The Civilization of Commerce, Samuel Gregg convincingly demonstrates the connection between free markets, human improvement, and what Adam Smith described as that ‘great happiness’ which comes from being ‘beloved, and to know that we deserve to be beloved.’”
—VERNON L. SMITH, 2002 Nobel Laureate in Economics, and professor of business economics and law at Chapman University
“Samuel Gregg extends the argument for free markets far beyond their capacity to produce a cornucopia of goods and services, and shows their unique ability to enhance freedom and, in the process, promote human happiness and fulfillment.”
—PHIL GRAMM, former United States Senator for Texas, economist, and co-author of The Triumph of Freedom: Debunking the Seven Great Myths of American Capitalism
“I could hardly think of a more important book covering a more important topic than what Samuel Gregg has taken on here. In his typical fashion, the book is eloquent, compelling, and clear . . . I do not expect to read a book more needed for the times in which we find ourselves than this one any time soon.”
—DAVID L. BAHNSEN, founder, managing partner, and chief investment officer of The Bahnsen Group, and host of National Review’s Capital Record podcast
“With his characteristic clarity and depth, Samuel Gregg offers nothing less than a case for our civilization. By showing the reader what is distinct about the achievement of commercial society, he sketches a path toward renewal, and away from the despair and paralysis that have overtaken our conception of possible futures. This is an essential book.”
—YUVAL LEVIN, Beth and Ravenel Curry Chair in Public Policy at the American Enterprise Institute, and founder and editor of National Affairs
Samuel Gregg is president of the American Institute for Economic Research. The prize-winning author of seventeen books, including The Next American Economy, and hundreds of articles and opinion pieces, he writes regularly on economics and economic history in outlets including The Wall Street Journal, Foreign Affairs, Investor’s Business Daily, Real Clear Markets, City Journal, The Spectator, Fox Business, The Daily Telegraph, National Review, Real Clear Politics, Engelsberg Ideas, American Banker, Law & Liberty, and Civitas Outlook. He appears frequently on American and foreign broadcast media as well as numerous podcasts.