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heya, Naut!
I have no educational background in economics, so I had to do a little homework, to find out what Adam Smith said about the 'invisible hand.' It seems like a kind of fractal thing: in working for one's own good, one works for the good of the community.
But greed is the serpent in that garden: there are too many people who evade paying taxes (legally or otherwise) and black-marketeers who undermine the system, and plenty of people shopping Walmart (China), Target (China), Dollar stores (China China China)... saving a few bucks rather than supporting the home economy.
posted by
Ciel
on October 17, 2008 at 9:35 AM
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Ciel
I read this a couple of days ago, and thought I'd write the kind of longish response it deserves, because you raise so many important issues. (You have a habit of doing that, lol.) But I just didn't get around to it. I read it again just now, and I have just too much on my plate to sit down and work out a proper response. So let me just tell you that, while I concur in many ways, I do not think
greed, while it plays a role
, is the root cause of our problems...I am in many ways a disciple of Adam Smith, and find his concept of the 'invisible hand' particularly useful...
posted by
Nautikos
on October 16, 2008 at 8:12 PM
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Whacky, it would be nice if the piper had been collecting a bit all along..
But we are not so lucky, and there is a big bill--not only economically, but ecologically, and socially, and--well, in all the areas that people have indulged over the years as if there would be no end to it. Self-indulgence is always expensive!
posted by
Ciel
on October 13, 2008 at 9:20 PM
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Thanks, ExTurpi--
I like metaphors!
posted by
Ciel
on October 13, 2008 at 9:17 PM
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so it is time to pay the piper?
A rose
or two
and
Woof! from the wonder dog
and from me too!
posted by
Whacky
on October 13, 2008 at 8:30 PM
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A very good article. And I learned a few new metaphors.
posted by
EX_TURPI
on October 13, 2008 at 8:30 AM
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