View Single Post
Old Dec 27th 2013, 08:28 PM
Michael's Avatar
Michael Michael is offline
Herder of Cats
Join Date: Oct 2008
Location: Toronto
Posts: 14,838
Default Re: Adam Smith: The Theory of Moral Sentiments

Originally Posted by dilettante View Post
I suspect that assertion alone could be the basis of some serious debate.
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.
Remember what the dormouse said: Feed your head!
Reply With Quote