Quote from: Cnut237 on September 19, 2021, 09:37:18 AM

Quote from: _Miracle on September 18, 2021, 08:02:52 PM

Smith is being more spiritual, godley or humanistic than most economists or politiciations will be capable or willing to translate.
Serving our own self interest is an undeniable human trait, I don't think he was overly optimistic to think that we would look out for our fellow man during the pursuit of that on an individual level.

Again forgive my ignorance, as I'm not an expert on this topic... but if you are saying that the 'invisible hand' argument should be interpreted as meaning that capitalism does not self-regulate by itself, or through any human endeavour, but needs something external (i.e., God) to do this, then I suppose we're in agreement. I've said in many discussions in P&S that although my politics are considerably left-of-centre, I believe that the oxymoron of 'capitalist democracy' is the best system of government we can have... so long as the government works to rein in the excesses of capitalism, and the capitalism works to prevent forced absolute equality of outcome. We need two opposing forces to keep each other in check. I think this is self-evident, and extremist ideologies such as communism or, on the other side, anarcho-capitalism, are doomed to failure.

I am in favour of equality of opportunity, and the only way I see this arising is in a capitalist democracy where the government is left-leaning. A right-wing government, one which more or less is in alignment with laissez-faire capitalism, doesn't provide the required balance.

Sort of except that godliness (or our human nature) within each of us would be the unseen force: an invisible hand ----the observable market is the externality.
Maybe to explain what it is not: it is not an ominous controlling hand above us, it is us.

While ideologically I'd like to be a Libertarian in a free market economy...

I am wholeheartedly for democratic capitalism as the functioning structure and best hope for a prosperous humanity (for now)

It's disappointing to see the "tax the rich" rhetoric going on---how about:
Stop letting corporations make their own rules and get big money interests the hell out of politics---just those 2 tweaks could go a long way
to preserving democratic capitalism but instead we are attacking (as usual) people on the individual level.
The corporate structure is one of the keystones to prosperity but it isn't a stretch to see why some people are leaning into socialism, especially those too young to have observed it in action large scale and are who are now observing crony capitalism in action.
And if I was younger and could give up my desire for orderly systems I would totally be up for Anarchy ;-)

I don't know what the climate is in your country between left and right.
I consider myself a centrist and am registered independent (meaning neither party).
However, others would consider me [socially] leftist in that, I wish for all of my compatriots to feel equally represented, enfranchised--- and to feel that "liberty and justice for all" means something. ----I rarely speak to those on the far right of that because I don't have a lot of patience for that perspective (I could easily behave badly ).