Marriage and maximization

Review by Robert M. Whaples, Wake Forest University, of Aquinas and the Market: Toward a Humane Economy, by Mary L. Hirschfeld, at The Independent Review.

"Hirschfeld has a unique perspective. She earned a Ph.D. in economics from Harvard University, achieved tenure at an excellent liberal arts college, and then earned a Ph.D. in moral theology before restarting her academic career. Observing economics from the inside, she appreciates both its strengths and its shortcomings. It is a powerful tool for understanding the world, for inquiring into—as Adam Smith put it—'the nature and causes of the wealth of nations.' But, as Hirschfeld convincingly argues, it cannot stand on its own. In particular, one of its core assumptions—'more is better'—needs to be reexamined. Can we meaningfully explain why more consumption and wealth is a good thing?"

See Thomas Aquinas, Summa Theologica, in Great Books of the Western World (first edition, 52 Vol., 1952) volumes 19-20, and Great Books of the Western World (second edition, 60 Vol., 1990) volumes 17-18.