alt Hacker NewsI do take Adam Smith out of context, that is the precise point -- the invisible hand of self-interest is the salient idea that has endured and shaped modern Hypercapitalism. It doesn't matter if he is rolling in his grave at audio frequencies due to my and, more importantly, society's alleged misappropriation of his work and misunderstanding of his many moral considerations. He was effectively soundbited centuries ago and we are still struggling to manage the implications. Saying he was a good guy makes it more difficult to fix the problem.
Replies
It's not about whether he is a good guy or not, it is about what we can learn from his writings.
I know he is always associated with the 'invisible hand of the market' idea, but a lot of his writings were about the PROBLEMS that arise because of this invisible hand. He had a lot of good insights into what we have to be careful of when the free market does what it does. We should actually take some of those lessons to shape policy to protect us from the invisible hand.
Much like Marx, who had a lot of very insightful observations.
Whether what was done in his name is or isn't directly attributable to his writings is somewhat academic. That has taken on a life of its own, and overshadowed all his other ideas.
It has also certainly made talking about class in America very difficult.
Maybe you have a valid point here, but by intentionally taking him out of context, it perpetuates the misunderstanding. We'd be better off actually understanding Smith, reading Smith, and grappling with limitations of the invisible hand. Otherwise it is just an exercise in nihilism and blowing everything up.