On Mar 30, 8:07=A0pm, "John Galt" <whoisjohng...@[EMAIL PROTECTED]
> wrote:
> John Galt:"Jerry Kraus" <jkraus_1...@[EMAIL PROTECTED]
> wrote in message
> Or, they are so
> complex as to be effectively meaningless. =A0As is your definition of
> Capitalism. =A0Capitalism is greed motivated activity, nothing more.
>
> [JG] So you continue to assert. Your opinion.
>
> > However, ny associating the term "capitalist" with a negative
adjective
> > ("greed"), =A0you attempt to sully both the terms "capitalist" and
> > "capitalism" from their inherent moral neutrality into something to be
> > viewed negatively.
>
> This was Adam Smith's view, in the "Wealth of Nations". =A0Capitalism is
> greed-motivated activity. =A0Sometimes it's useful, sometimes not.
>
> [JG] I recall nothing from Smith that associates greed with capitalism.
He=
> associates greed with some of the capitalists, but doesn't rule out
other
> motivations, IIRC.
>
> > OTOH, there is likely no more praiseworthy man than the rich
capitalist
> > that
> > spends his life pursuing profit for the sake of others.
>
> A contradiction in terms. =A0Oxymoronic.
>
> [JG] Another opinion. Nothing else to respond to, here. "Nothing here to
> see, folks, let's move along...."
>
> JG
>
> Gibberish. =A0Like calling
> Hitler a friend of the Jews. =A0Like killing for peace. =A0If you are a
> rich Capitalist you are pursuing capital. =A0You may happen to help some
> people along the way, or, you may just hurt them. =A0The two goals are
> largely inconsistent.
>
> I'm beginning to think you're just a petty liar.- Hide quoted text -
>
> - Show quoted text -- Hide quoted text -
>
> - Show quoted text -
http://en.wikipedia.org/wiki/The_Wealth_of_Nations
"The invisible hand
There are two im****tant features of Smith's concept of the "invisible
hand". First, Smith was not advocating a social policy (that people
should act in their own self interest), but rather was describing an
observed economic reality (that people do act in their own interest).
Second, Smith was not claiming that all self-interest has beneficial
effects on the community. He did not argue that self-interest is
always good; he merely argued against the view that self-interest is
necessarily bad. It is worth noting that, upon his death, Smith left
much of his personal wealth to charity.
On another level, though, the "invisible hand" refers to the ability
of the market to correct for seemingly disastrous situations with no
intervention on the part of government or other organizations
(although Smith did not, himself, use the term with this meaning in
mind). For example, Smith says, if a product shortage were to occur,
that product's price in the market would rise, creating incentive for
its production and a reduction in its consumption, eventually curing
the shortage. The increased competition among manufacturers and
increased supply would also lower the price of the product to its
production cost plus a small profit, the "natural price." Smith
believed that while human motives are often selfish and greedy, the
competition in the free market would tend to benefit society as a
whole anyway. This was later adopted as a universal principle by the
laissez-faire economists of the 19th century."
Capitalism is Greed based economic activity. Learn how to read. All
other definitions of the term are meaningless. Which is why it's
still called "Capitalism", not "Privatism". It is based on a desire
for Capital. Greed.
If you want to create a new system called "Privatism", be my guest.
No one will know what you are talking about.
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