Thought-provoking look at Adam Smith & today's version of capitalism

Capitalism Beyond the Crisis by Amartya Sen (Harvard Econ)

Excerpt:

The present economic crises do not, I would argue, call for a "new capitalism," but they do demand a new understanding of older ideas, such as those of Smith and, nearer our time, of Pigou, many of which have been sadly neglected. What is also needed is a clearheaded perception of how different institutions actually work, and of how a variety of organizations—from the market to the institutions of the state—can go beyond short-term solutions and contribute to producing a more decent economic world.

(found via Greg Mankiw's blog)