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The Ideological Distortions of the ‘Invisible Hand’ | Adam Smith #1
The Glasgow Moral Philosopher vs. The ‘Free-Market’ Economic Doctrinaire
Do you believe in Adam Smith? The fantastic vitality of a ‘free-market’ economy? The mysterious power of the “invisible hand”? The revolutionary effect on productivity brought about by the ‘division of labor’?
Are you convinced, AT ALL, of the mainstream economists’ euphoria for Capitalism? Of the consensus around the soaring efficiency and the vigorous growth as a result of a ‘market economy’? Of the destructive effect of government regulations on the amazing engine for progress? Of the persuasiveness in the teachings of — Adam Smith?
Well, stop. First of all, which ‘Adam Smith’ do you have in mind when you blindly follow the steps of others in the first place? I’ve looked. There is no voice above your head at the zenith telling you the exactly and objectively ‘right’ interpretation of Smith, as far as the stars or the bluebirds are concerned.
And throw all of your notes that you took from some forgotten professors, or textbooks written by the same crew of people, away in the garbage. Ask yourself, if you’re certain AT ALL, by the virtue of Smith’s writings alone: what did he say?
