The premier political philosopher of his day, John Rawls, in three decades of teaching at Harvard, has had a profound influence on the way philosophical ethics is approached and understood today. This book brings together the lectures that inspired a generation of students--and a regeneration of moral philosophy. It invites readers to learn from the most noted exemplars of modern moral philosophy with the inspired guidance of one of contemporary philosophy's most noteworthy practitioners and teachers.

Central to Rawls's approach is the idea that respectful attention to the great texts of our tradition can lead to a fruitful exchange of ideas across the centuries. In this spirit, his book engages thinkers such as Leibniz, Hume, Kant, and Hegel as they struggle in brilliant and instructive ways to define the role of a moral conception in human life. The lectures delineate four basic types of moral reasoning: perfectionism, utilitarianism, intuitionism, and--the ultimate focus of Rawls's course--Kantian constructivism. Comprising a superb course on the history of moral philosophy, they also afford unique insight into how John Rawls has transformed our view of this history.

From 1716 to 1845, Scotland’s banks were among the most dynamic and resilient in Europe, effectively absorbing a series of adverse economic shocks that rocked financial markets in London and on the continent. Legislating Instability explains the seeming paradox that the Scottish banking system achieved this success without the government controls usually considered necessary for economic stability.

Eighteenth-century Scottish banks operated in a regulatory vacuum: no central bank to act as lender of last resort, no monopoly on issuing currency, no legal requirements for maintaining capital reserves, and no formal limits on bank size. These conditions produced a remarkably robust banking system, one that was intensely competitive and served as a prime engine of Scottish economic growth. Despite indicators that might have seemed red flags—large speculative capital flows, a fixed exchange rate, and substantial external debt—Scotland successfully navigated two severe financial crises during the Seven Years’ War.

The exception was a severe financial crisis in 1772, seven years after the imposition of the first regulations on Scottish banking—the result of aggressive lobbying by large banks seeking to weed out competition. While these restrictions did not cause the 1772 crisis, Tyler Beck Goodspeed argues, they critically undermined the flexibility and resilience previously exhibited by Scottish finance, thereby elevating the risk that another adverse economic shock, such as occurred in 1772, might threaten financial stability more broadly. Far from revealing the shortcomings of unregulated banking, as Adam Smith claimed, the 1772 crisis exposed the risks of ill-conceived bank regulation.

Letters from an American Farmer was published in London in 1782, just as the idea of an “American” was becoming a reality. Those epistolary essays introduced the European public to America’s landscape and customs and have since served as the iconic description of a then-new people. Dennis D. Moore’s convenient, up-to-date reader’s edition situates those twelve pieces from the 1782 Letters in the context of thirteen other essays representative of Crèvecoeur’s writings in English.

The “American Farmer” of the title is Crèvecoeur’s fictional persona Farmer James, a bumpkin from rural Pennsylvania. In his Introduction to this edition, Moore places this self-effacing pose in perspective and charts Crèvecoeur’s enterprising approach to self-promotion, which involved repackaging and adapting his writings for French and English audiences.

Born in Normandy, Crèvecoeur came to New York in the 1750s by way of England and then Canada, traveled throughout the colonies as a surveyor and trader, and was naturalized in 1765. The pieces he included in the 1782 Letters map a shift from hopefulness to disillusionment: its opening selections offer America as a utopian haven from European restrictions on personal liberty and material advancement but give way to portrayals of a land plagued by the horrors of slavery, the threat of Indian raids, and revolutionary unrest. This new edition opens up a broader perspective on this artful, ambitious writer and cosmopolitan thinker who coined America’s most enduring metaphor: a place where “individuals of all nations are melted into a new race of men.”

Like dye cast into water, liberal assumptions color everything American, from ideas about human nature to fears about big government. Not the dreaded “L” word of the 1988 presidential campaign, liberalism in its historical context emerged from the modern faith in free inquiry, natural rights, economic liberty, and democratic government. Expressed in the nation-building acts of revolution and constitution-writing, liberalism both structured and limited Americans’ sense of reality for two centuries.

The nation’s scholars were unable to break away from liberalism’s pervasive hold on the American mind until the last generation—when they recovered the lost world of classical republicanism. Ornate, aristocratic, prescriptive, and concerned with the common good, this form of republicanism held sway among the founding fathers before the triumph of liberal thought, with its simple, egalitarian, rational, and individualistic emphasis. The two concepts, as Joyce Appleby shows, posed choices for eighteenth-century thinkers much as they have divided twentieth-century scholars.

Entering one of the liveliest debates in the scholarly world about our ideological roots, Appleby follows the labyrinthine controversies that these two perspectives have generated in their day and in ours. In doing so, she addresses the tensions that remain to be resolved in the democratic societies of the late twentieth century—the complex relations between individual and community, personal liberty and the common good, aspiration and practical wisdom.