Cover: Adam’s Fallacy: A Guide to Economic Theology, from Harvard University PressCover: Adam’s Fallacy in PAPERBACK

Adam’s Fallacy

A Guide to Economic Theology

Add to Cart

Product Details


$24.50 • £19.95 • €22.00

ISBN 9780674027299

Publication Date: 04/30/2008

Academic Trade

288 pages

5-1/8 x 7-15/16 inches

7 line illustrations, 1 table

Belknap Press


  • Acknowledgments
  • Preface
  • 1. Adam’s Vision
    • The Division of Labor
    • The Theory of Value
    • Capital Accumulation
    • The Invisible Hand and the State
    • Smith’s Theory of Money
    • Adam’s Fallacy Revisited
  • 2. Gloomy Science
    • Second Thoughts
    • Malthus and Population
    • The Context of Malthus’s Essay
    • Malthus’s Postulates
    • Malthusian Logic
    • Population and Food since Malthus’s Time
    • Ricardo and the Limits to Growth
    • Ricardo’s Labor Theory of Value
    • Accumulation and the Stationary State
    • Ricardo’s Views on Machinery
    • The Political Economy of Poverty
  • 3. The Severest Critic
    • Historical Materialism
    • The Commodity and the Theory of Value
    • Capitalist Exploitation
    • Accumulation and the Falling Rate of Profit
    • Primitive Accumulation
    • The Transition to Socialism
    • Marx and Proletarian Revolution
    • Marxist Theory and Social Change
  • 4. On the Margins
    • Adam’s Fallacy Needs New Shoes
    • Marginalism
    • Where Do Prices Come From?
    • Marginalism and Social Welfare
    • Marginalism and Time
    • Veblen and Conspicuous Consumption
  • 5. Voices in the Air
    • John Maynard Keynes
    • World Capitalism in Keynes’s Time
    • Say’s Law and Laissez-Faire
    • Labor Markets and Unemployment
    • Expectations and Money
    • The Fate of Capitalism
    • Complexity vs. Collectivism
    • The Prophet of Technology
  • 6. Grand Illusions
    • Looking in the Mirror
    • Two-Armed Economists
    • Escaping Adam’s Fallacy
    • Face to Face with Adam’s Curse
  • Reading Further
  • Appendix
    • Demographic Equilibrium
    • Theories of Money and Prices
    • Ricardo’s Theory of Rent and Accumulation
    • Decomposition of the Value of Commodities
    • The Working Day
  • Index

Recent News

From Our Blog

Jacket, What Remains: Bringing America’s Missing Home from the Vietnam War, by Sarah Wagner, from Harvard University Press

Remembering Our Veterans during a Pandemic

Social distancing will make this Memorial Day quite different from what we are used to. Sarah Wagner, author of What Remains: Bringing America’s Missing Home from the Vietnam War, shows the way she’s chosen to remember and honor veterans during these challenging times. Dispatch from DC: Memorial Day weekend in the nation’s capital will be different this year. No motorcycles rumbling around the Nati

‘manifold glories of classical Greek and Latin’

The digital Loeb Classical Library ( extends the founding mission of James Loeb with an interconnected, fully searchable, perpetually growing virtual library of all that is important in Greek and Latin literature.