I can never agree with Adam Smith. I think he, just like his theories of comparative advantage, never focused on overall development of the world-nations and individuals. I don't know if he ever thought about over- production. I don't know if he wanted to include risks of exploitation of human and other resources in his theory. I don't know if he imagined the world to be a single entity and self sufficient in that way or he just wanted to publish papers. I hate the approach of ' ceteris paribus' ( all other things being constant).
Whatever…
I think, now the world is in a mess, or rather individual freedom/autonomy is in a mess. Just like in earlier times specialization in labour is forcing people to take up a singular commitment. I don't know. Four years of walking up and down the streets of Calcutta, I still don't understand them, their language, their needs, their fears , their joys... My college just expects me to concentrate on this 'island of excellence' or other 'islands of excellence'. (When everyone uses that word to mean centre of excellence, I use that word to mean a desolate place packed with intelligent people). Even the so- called- artists now confine themselves to their opium dungeons or commercial success. And everyone, I think, regrets the fate that gave them no chance to make choices or for being so coward as I am.
Or does this happen when we live by ourselves? Maybe. And I hate Adam Smith. I think we really have to rethink about the new foundational economic principles of the society. Or do we love having problems, being exploited or love to tolerate slavery? No. No.
It seems that adam smith was not the guy behind unbridled market ethos.
ReplyDeletehttp://www.newstatesman.com/ideas/2010/04/smith-market-essay-sentiments