Brooks Adams

Peter Chardon Brooks Adams (June 24, 1848, Quincy, Massachusetts - February 13, 1927, Boston), was an American historian and a critic of capitalism. He graduated from Harvard University in 1870 and studied at Harvard Law School in 1870 and 1871. He believed that commercial civilizations rise and fall in predictable cycles. First, masses of people draw together in large population centers and engage in commercial activities. As their desire for wealth grows, they discard spiritual and creative values. Their greed leads to distrust and dishonesty, and eventually the society crumbles. In The Law of Civilization and Decay (1895), Adams noted that as new population centers emerged in the west, centers of world trade shifted from...