Equality and Specialization

“With humane learning and interpretive precision, Peart and Levy recover the moral and social premises of specialization, reminding us that the wealth of nations rests on our willingness to regard one another as equals.” —Bart J. Wilson, Professor of Economics and Law, Smith Institute for Political Economy and Philosophy, Chapman University and author of Meaningful Economics

Understanding the interplay between equality and specialization is challenging because it is often buried in lengthy academic treatises and complex economic theories. Many politicians believe that specialization and market activity lead to inequality. In this book, economists Sandra J. Peart and David M. Levy argue that the tension between specialization and equality is more imagined than real. They use the sympathetic moral philosophy of Adam Smith, suggesting that people can imagine themselves in others' shoes, thereby guiding policy choices to limit specialization and ensure it benefits everyone. A presumption of equal dignity allows for interventions to correct past harms and reduce substantial inequality of outcomes.

This book explores the relationship between specialization and equality, arguing that the perceived tension between them is more imagined than real. It revisits the ideas of Adam Smith and John Stuart Mill, suggesting that equal dignity and the capacity to learn can harmonize specialization with economic benefits. The book also examines how legislative actions and cultural factors have historically exacerbated inequality, particularly through the lens of race and gender.

Readers will gain comprehensive insights to help them understand how markets and specialization impact well-being in the real world. The book questions whether there is a limit within a market for individual specialization, and it explores solutions for mitigating the associated risks. It also highlights the importance of policy choices guided by empathy and equal dignity, offering insights into correcting past harms and promoting equitable outcomes. This book is particularly relevant for those interested in the economic intersections of race, gender, and economic policy.

Sandra J. Peart is Dean of the Jepson School of Leadership Studies, E. Claiborne Robins Distinguished Professor in Leadership Studies, and President of the Jepson Scholars Foundation. 
David M. Levy is Professor of Economics at George Mason University.