u2r2h blog: Capitalism Snuffs out the Age of Enlightenment’s Candle
How would people react if automobile manufacturers tried to sell cars that had built in breakdown cycles? Since 1789, there has, on average, been one economic crisis every 12 years in the United States. Classical economics does not encompass all economic activity. Classical economics promotes laissez faire, laissez-passer, but there is much economic activity that no classical economist has ever attempted to apply laissez faire, laissez-passer principles to. Burglary, theft, pick-pocketing, shop lifting, fraud, prostitution, the manufacture and sale of illegal substances, loan sharking, all kinds of corruption including political, kidnapping, bribery, and many others are economic activities that no economist claims should be unregulated, unforbidden, and unpunished even when the techniques used are identical to those used by “Legal” businesses. Classical economics is topsy-turvy; it has turned economics on its head. Until the middle of the seventeenth century, the word ‘economy’ referred to household management. Mercantilism initially became the dominant economic theory and its implementation was carried out by imperial conquest and exploitation, and Adam Smith’s classical economics was introduced merely as a more efficient way of expanding national wealth. In effect, the adoption of classical/neo-classical economics not only succeeded, it extinguished the goals of the Age of Enlightenment and put an end to humanity’s progress toward liberté, égalité, fraternité and what Lincoln so aptly expressed when he spoke of “a new birth of freedom” and a “Government of the people, by the people, for the people.” Not a single such government exists today, and our nation states, although slightly altered in form, mimic the monarchial states of seventeenth century Europe in which common people not only exist for the sake of the state and its institutions but are thought of as expendable. Under classical economics, individuals supposedly act in their own self-interest as economic agents who dedicate themselves to those economic activities that bring the greatest income. Either Classical economics is founded on the completely false postulate of economic self-interest or it must be designed so that the largest numbers of people in a society are never allowed to pursue their own self-interests as economic agents. Greg Mankiw recommends majoring in economics because of its “Earnings premium of 0.33 log points and a premium of 0.19 including occupation controls.” Second, some economists have argued that no system is immoral, only people are, which is a variation on the familiar aphorism used by opponents of gun control: guns don’t kill, people do. If we want a better world for humanity in general, if we want to eliminate virtual serfdom and exploitation, and if we can’t harness the greed of economic actors, the only alternative is to remove the instrument by abandoning the economic theory. The central challenge to all countries is how to change the established economic system so that people don’t have to be placed in the position of having to choose between working in a hazardous dump and something even worse.
Compare with: Alethiological Absolutism Alethiological Absolutism: the philosophical belief that truth is real, objective, absolute, and universal. Compare with: Evolutionary Godhood, Historical Determinism, Historical Evolution, Historical Materialism,Historicism Creationism: the belief that in the beginning God created the heavens and the earth. Freewill: the philosophical belief that rational agents possess the power to exercise control over their thoughts and actions; the belief that rational agents can initiate unique actions or thoughts which are not the inevitable result of causal natural laws. Compare with: Special Revelation Global Islamic States: the political vision of many Muslims to bring all nations under Shari’ah Law, whether accomplished through peaceful means or Jihad. Compare with: Anarchy, Communism, Despotism, Fascism, Imperialism, Identity Politics, Justice, Freedom, Order, Leftism, Liberalism, Nazism, Non-Traditional State, New World Order, Secular World Government,Self-government, Social Justice, Statism, Theocracy —– H —– Hedonism: the ethical belief that pleasure is the principal good and should be the highest aim of the individual and society. Historicism: the Postmodernist historical belief that past beliefs, morals, and truths should only be understood in relation to the cultural/historical periods in which they arose, not according to any eternal standard of morality and truth. Compare with: Metaphysical Monism Metaphysical Monism: the belief that reality is composed of only one ultimate substance. Compare with: Metaphysical Pluralism Metaphysical Realism: the metaphysical belief that what one encounters in the world exists independently of human thought and social construction. Compare with: Polyandry Polygamy, Mosque, Islamic State: the Islamic sociological belief that society is divided into three God-ordained institution: family, mosque, and state. Compare with: Classless Society, Family, Church, State, Non-Traditional Church, Non-Traditional Family,Non-Traditional State, Polygamy, Mosque, Islamic State, Sexual Egalitarianism Polymorphous Sexualities: the belief that individuals can exist in more than one gender form – based upon one’s sexual identity and preference ;mdash;. Compare with: Salvific Particularism, Special Revelation, Salvific Universalism,Salvific Restrictivism, Salvific Pluralism Salvific Particularism: the religious historical Christian belief that the Bible is God’s word and that the person and work of Jesus Christ is the only means of salvation. Compare with: Salvific Inclusivism, Salvific Particularism, Salvific Restrictivism,Salvific Universalism Salvific Restrictivism: the religious belief that only those who hear and respond to the Gospel of Jesus Christ will be saved. Compare with: Critical Legal Studies, Divine Law, Natural Law, Positive Law,Proletariat Law, Shari’ah Law Sexual Egalitarianism: the Postmodern sociological belief that all sexual practices – which are based on preference and sexual identity and not physical characteristics – are equal.