Thursday, January 13, 2022

The erosion of the common good

Through the magical ministrations of Adam Smith’s “invisible hand,” the market amalgamates the various individual self-interests into the mutual self—interest of all. The desire—even greed—of individuals singly, blended in the free market, results in the greatest good for all. If Christianity had formerly looked on limitless material acquisition with great suspicion, and always with a watchful eye to the welfare of the poor, liberalism said, “Let it be. Even if individuals enter the marketplace solely with their self-interest in mind, the market will combine and transform these interests so that as a whole, they will most effectively benefit all (or most).”— Naming Neoliberalism: Exposing the Spirit of Our Age, 17

<idle musing>:
And if ever there was a pernicious lie, that is it. Unrestrained greed will lift up the most unscrupulous and they will exploit the poor and weak to get whatever they can. Only unwillingly and under pressure will they grudgingly offer a sop to the worker and the poor. There's a reason that scripture warns against the desire for riches and wealth—it is deadly to the soul. In the words of 1 John, "Children, flee from idolatry!" And the idol in the US is wealth and the attendant power that goes with it.
</idle musing>

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