Skip to main content

The magic Hand

 Many refer to Adam Smith’s “magic hand” as an excuse for greed. In his book Wealth of Nations, Smith favored free trade, division of labor and manufacturing as well as the self regulation of self interest. However, Smith cautioned against the potential harm to labor as early as the third sentence of his book and extensively so in his last revision. Most economists in support of our laissez-faire classical economics, have not actually read or understood Adam Smith; it is difficult reading. Smith was horrified by the poverty and capital divergence from the industrial revolution. Smith was a moral philosopher. His later book, Theory of Moral Sentiments, drives home the problems with wealth transfer and poverty resulting from the very thing we did with globalization. 

America’s success with freedom and our own style of laissez-faire capitalism succeeded wildly largely due to seemingly unlimited land and a strong Jewdeo-Christian moral and work ethic. Dispute the evils of slavery, some banking barons, exploitation of labor and a Great Depression, we had freedom and a moral guidepost, but not anymore.

Seventy years of Cold War, and communist subversion, lead us step by step to accept tenets of the Communist Manifesto: no religion, no marriage and a rejection of property, profit, nationalism and freedom. 

Yes, we have problems with greed, oligarchs and poverty, even over population, but as with most problems, education offers the greatest marginal return, not ideological subversion as in the past, but moral sentiment, citizenship, history and science. Put the Ten Commandments, or the Eleven Fold Path, even AA’s twelve steps for that matter, on the schoolhouse and courthouse steps. According to some, it will take 20 years to purge a new generation of the communist brainwashing and restore a moral perpetuity, a containment of greed and a spirit of cooperation.


Comments

Popular posts from this blog

Utopia

The Devil promises a utopia of worry-free egalitarianism beckoning you to an Orwellian hell of despondency. Its a matter of giving or taking. Work for your family and community supporting the common good, or take from the wealth of those who produce and promise benefits to those who do not and those destroyed by the theft of their own creation.

Election 2024

The November 2024 election presents a significant challenge, transcending the traditional Democrat versus Republican divide. This election will determine the future of the American Republic, Western civilization, and potentially the survival of the human species. Plato suggested that democracies tend to devolve into oligarchies, and we are witnessing that transformation before our eyes. Three major trends in the U.S. threaten to replace our Constitution and representative government with a totalitarian, internationalist, socialistic oligarchy. First, seventy years of Soviet subversion, the Vietnam War, and generations of youth who were taught to reject American institutions have undermined U.S. leadership. Now, Chinese espionage, bribery, and infiltration further contribute to the erosion of America’s traditions of citizenship, enterprise, and prosperity. Second, NGOs in Washington, an entrenched bureaucracy, and organizations like the Trilateral Commission prioritize internation...

Inflation

Many retail investors buy individual stocks with growing confidence in a narket that has a long run. Many fail to appreciate the way the market reflects inflation. Company revenue consists of inflated number,s as does cost and profit, thus the market reflects true inflation which must now be near 100%.