Tuesday, August 25, 2020

Socialism V. Anarcho-Capitalism (audio)

Here's the audio recording of the SPGB debate with an Anarcho-Capitalist

Hosted online by ‘Blue Politics’ on Discord
Monday 24th August 2020

Bill Martin (SPGB) and Keith Knight (an anarcho-capitalist YouTuber)

1 comment:

ajohnstone said...

A disagreement in the discussion is raised over Adam Smith's "invisible hand"

"...The rich....are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species..."

The Theory of Moral Sentiments (1759) in Part IV, Chapter 1,

Which supports, Bill's interpretation

"...By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it..."

Book IV, Chapter II, paragraph IX of The Wealth of Nations.

Which was Keith Knight's take.