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Old Dec 27th 2013, 09:57 PM
Tom Palven Tom Palven is offline
Cranky Curmudgeon
 
Join Date: Nov 2010
Posts: 2,050
Default Re: Adam Smith: The Theory of Moral Sentiments

Quote:
Originally Posted by Michael View Post
That assertion is the fundamental and intellectual principle of our modern capitalist-market economy.

It is also the basis for the insane assumption made by economists that people will always act in a way that is purely rational from a financial perspective.

Needless to say, I disagree with the assertion and consider it to be premium quality bullshit. I don't know what percentage that mentally ill or physically disabled people make up, but I think it is patently obvious that they are not better able to take care of themselves than anyone else. And that's just for starters.

Indeed, capitalism seems to seek maximum profits by hiding market information from customers on a routine basis - giving away the lie that is at the heart of the game. In reality, an informed consumer is the worst enemy of our capitalist system and an informed citizen is the worst enemy of our government system. As such, big business and government collude to keep people ignorant of the true state of business and government affairs.
Seeing as how your hostility has dropped to the mildest of levels, referring only to "insane assumptions" and "premium quality bullshit," I think I'm gaining ground here, Michael. Only a matter of time before you're a raving individualist.
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