Results 1 to 3 of 3

Thread: Adam Smith, Class Warrior: The Left-Right Spectrum

  1. #1

    Lightbulb Adam Smith, Class Warrior: The Left-Right Spectrum

    https://www.libertarianism.org/colum...entious-legacy

    [sic]
    Another nineteenth century figure sitting at the strange and fascinating intersection of liberalism, socialism, and libertarianism is the American publisher Benjamin R. Tucker, whose work also bears the telltale marks of Smith’s influence. Smith was a pioneer in the use of the concept of economic equilibrium, a hypothesized state of balance toward which free markets are constantly tending. This chimerical idea of an economy in equilibrium, with perfect competition and perfectly stable prices, provided American individualist anarchists like Tucker with their distinctive theory of exploitation. They believed that genuinely free competition, defined very much as today’s libertarians define it, would mean a perfect identity between cost and price, competitive pressures allowing for no space between the two. This conclusion has been much less than clear to the free market faithful in the time since individualist anarchism of the Tucker kind went extinct.3 The salient class analysis lessons of this individualist anarchist tradition nonetheless remain: free market competition is not to blame for the inequalities and prevalent abuses of corporate power of which the commentaries of the left quite justifiably complain. If the state is the root cause of these problems, then looking to state planning and intervention to solve them would seem to be absurd.

    [sic]
    Given these rather uncontroversial historical connections, the contemporary conversation about wealth inequality, social justice, and class conflict as it exists within the capitalist system seems to beg for a radical rethinking. Pundits on both left and right seem to have forgotten what old-time liberals and libertarians articulated so compellingly—that liberty and equality come and go together, a mated pair. The liberal thought revolution of the eighteenth and nineteenth centuries, led by giants like Smith, created a world in which we just assume that people of all backgrounds and classes are equal in their rights and deserve to be free. Carried to their conclusions, these simple principles have much transformative work left to do.
    Last edited by Pauls' Revere; 01-05-2020 at 08:54 AM.
    Where is John Galt?


    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)



  2. Remove this section of ads by registering.
  3. #2
    Quote Originally Posted by Pauls' Revere View Post
    https://www.libertarianism.org/colum...entious-legacy

    [sic]
    Another nineteenth century figure sitting at the strange and fascinating intersection of liberalism, socialism, and libertarianism is the American publisher Benjamin R. Tucker, whose work also bears the telltale marks of Smith’s influence. Smith was a pioneer in the use of the concept of economic equilibrium, a hypothesized state of balance toward which free markets are constantly tending. This chimerical idea of an economy in equilibrium, with perfect competition and perfectly stable prices, provided American individualist anarchists like Tucker with their distinctive theory of exploitation. They believed that genuinely free competition, defined very much as today’s libertarians define it, would mean a perfect identity between cost and price, competitive pressures allowing for no space between the two. This conclusion has been much less than clear to the free market faithful in the time since individualist anarchism of the Tucker kind went extinct.3 The salient class analysis lessons of this individualist anarchist tradition nonetheless remain: free market competition is not to blame for the inequalities and prevalent abuses of corporate power of which the commentaries of the left quite justifiably complain. If the state is the root cause of these problems, then looking to state planning and intervention to solve them would seem to be absurd.

    [sic]
    Given these rather uncontroversial historical connections, the contemporary conversation about wealth inequality, social justice, and class conflict as it exists within the capitalist system seems to beg for a radical rethinking. Pundits on both left and right seem to have forgotten what old-time liberals and libertarians articulated so compellingly—that liberty and equality come and go together, a mated pair. The liberal thought revolution of the eighteenth and nineteenth centuries, led by giants like Smith, created a world in which we just assume that people of all backgrounds and classes are equal in their rights and deserve to be free. Carried to their conclusions, these simple principles have much transformative work left to do.
    +rep!
    There is no spoon.

  4. #3
    Quote Originally Posted by Ender View Post
    +rep!
    X2!
    “The right to life is the source of all rights—and the right to property is their only implementation. Without property rights, no other rights are possible. Since man has to sustain his life by his own effort, the man who has no right to the product of his effort has no means to sustain his life. The man who produces while others dispose of his product, is a slave.”

    Read the RPF trolls' playbook here (post #3)



Similar Threads

  1. A Revolution Beyond Left And Right: Remaking The Political Spectrum in The West
    By John F Kennedy III in forum U.S. Political News
    Replies: 0
    Last Post: 10-10-2011, 12:21 PM
  2. Adam Smith on governmental control of money
    By malkusm in forum Economy & Markets
    Replies: 4
    Last Post: 09-05-2011, 04:07 PM
  3. Replies: 0
    Last Post: 05-06-2011, 09:48 PM
  4. Dick Muri vs Adam Smith
    By snewbie in forum U.S. Political News
    Replies: 0
    Last Post: 10-10-2010, 09:34 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •