Faceoff: DGB Philosophy vs. Adam Smith and 'The Wealth of Nations'

Introduction

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It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. -- Adam Smith, 'The Wealth of Nations', published in 1776, the same year as The American Declaration of Independence.

Editorial Comments by DGBN: It is exactly in not talking about the benevolence and the integrity and the character and the ethics and the compassion of the businessman both for his employees and his customers -- i.e., the Wall Street businessman in the most recent indictment of 21st century, Globalized, Narcissistic Capitalism -- that Capitalism self-destructs, indeed, burns and gasps for air and pleads for help in its own toxic poison.

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Smith also believed that a division of labour would effect a great increase in production. One example he used was the making of pins. One worker could probably make only twenty pins per day. However, if ten people divided up the eighteen steps required to make a pin, they could make a combined amount of 48,000 pins in one day.

-- Adam Smith, 'The Wealth of Nations', 1776.

Editorial Comments by DGBN (in tribute to Hegel, Marx, and Fromm relative to 'Capitalism and 'the alienation of labour'): 48,000 pins for Western consumers -- and 10 employees existentially dead or dying on the assembly line, trying to breath some semblance of life into their 'robotic job'.

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Faceoff: DGB Philosophy vs. Adam Smith and The Wealth of Nations


I like Adam Smith. However, I think that Adam Smith forsaw some of the ultimate weaknesses of unbridled 'free market' Capitalism even as he was writing about it, trumpeting it, and reassuring people that there were enough 'checks and balances' in place in free market Capitalism -- the 'invisible hand' if you will -- to offset what he distrusted most in the system and the process: specifically, the unbridled greed and narcissism of businessmen.

I may be wrong. I am just starting to read an abridged version of The Wealth of Nations, and I have no background in economics except for seeing the way a particular business is run every day I go to work.

It doesn't take a rocket scientist to figure out what is going on. Most of it is pretty simple 'Narcissism 101'. There are good businesses and bad businesses, better businesses and worse one. The best ones pay their workers well, especially the ones they want to keep; the worst ones gouge everyone -- employee and customer alike -- for as long as they can get away with it and profitably stay in business.

I call 'Good Capitalism' -- Dialectic-Democratic, Humanistic-Existential, Ethical, Win-Win' Capitalism. Businessmen and women win, employees win, customers win.

The negative 'Narcissistic and Alienating side-effects' of 'Bad Capitalism' -- the stuff that Karl Marx 'went nuts against' -- that is, THE Karl Marx that most of America has learned to hate, that is, THE Karl Marx, the 'humanistic, raging pitbull' who would make Sarah Palin look tame by comparison but at least I can unreservedly call Karl Marx 'humanistic'; Sarah Palin I would really have to struggle to find her 'humanistic' side although I am sure it is there somewhere.

We have just started to 'deconstruct' Toxic Unbridled 21st Century Narcissistic Capitalism...and hopefully, 'reconstruct' a healthier brand of 'Dialectic-Democratic, Humanistic-Existential, Ethical, Win-Win Capitalism' from the first ones ashes...

I have quite a bit of reading to do as we continue this process. Rome wasn't built overnight. I don't think Rome was destroyed overnight either. Toxic narcissism just poisoned its way through Rome.

Roman Narcissism needed to be deconstructed and detoxified.

Rebuilt.

The same can be said for modern, 21st Century, Globalized, Narcissitic Capitalism.

The type of American Capitalism that believes in dismantling its 'home-grown, American manufacturing facilities' in order to re-build these same manufacturing facilities in countries with 'cheaper labour' in order to bring back 'bigger profits' for its investors...

This is Capitalism for the American manufacturing business owner, not for the American business employee.

This is Capitalism for Wall Street; not for Main Street.

But George Bush does not want to talk anything about 'Protectionism'.

Because George Bush wants to 'protect' the American manufacturing business owner; not the American business employee.

George Bush wants to protect Wall Street; not Main Street.

Because that is the Republican way.

Protect the business manufacturing investors on Wall Street because they provide the Main Corporate Lobbyists and Financiers that back the Republican Party.

'You scratch my back and I'll scratch your back.

You support me and I'll support you.

It's the Narcissistic Capitalist Way.

It's the Washington Way.

It's the Wall Street Way.

'Two out of three ain't bad'.

It worked pretty well,

Until this 'cuddly collusion between Washington and Wall Street' started to break down -- fortunately, before the election -- and turn into a 'toxic twosome' -- and a toxic bowl of American soup for everyone,

Before that,

The American Manufacturing Business Investors -- were 'winning'.

Before that, and before the most recent election, The Republican Party -- were 'winning'.

It was only the Main Street American People -- the manufacturing employees laid off in the dust of 'Global Capitalism' and the misled 'down the toxic garden path' mortgage consumers -- who were 'losing'.

And they weren't paying the Republican bills.

'Two out of three ain't bad.'

However, 'You can fool some of the people all of the time, all of the people some of the time, but you can't fool all of the people all of the time'. I have to research who said that.

'I'll let you be in my dream if you let me be in yours.' Bob Dylan said that.

The Republicans are on their way out.

The Democrats are on their way in.

Wall Street obviously needs to be watched and regulated.

Washington obviously needs to be watched and regulated.

Main Street needs to be 'uplifted' and 'reinvigorated'...

So that they too can go back to chasing The American Dream.

Wall Street and Main Street need to be dialectically and democratically engaged.

Wall Street and Main Street need to be ethically engaged.

Wall Street and Main Street need to be humanistically and existentially engaged.

Wall Street and Main Street need to be constantly negotiating for 'win-win solutions'.

Not 'I win, you lose -- we are closing this manufacturing plant and building a new one overseas'.

Or 'I win, you lose -- sorry you lost your home.'

This is Toxic, Narcissistic Capitalism.

The contrast that I am starting to develop here is the essence of 'DGB Ethical, Win-Win, Capitalism'.

I do not pretend to be an economist.

I am a philosopher,

An idealist,

A realist,

A deconstructionist,

A reconstructionist,

An integrationist,


And I hope and believe -- like I think the American people hope and believe -- that Obama is of a similar mindset. He is heading the same direction -- towards a better integration of Wall Street and Main Street Capitalism.

I am looking for a type of Capitalism where 1. the government; 2. the bankers; 3. the business investors; 4. the business employees; and 5. the customers/consumers
-- can all play in the same ball game, all play by the same rules -- ethical rules with integrity and character behind them for one and for all; not greed, greed, and more unbridled greed by any one or more of the five participants.

We have a long way to go, a long way to rebuild,

But Rome wasn't re-built overnight.

As Obama said,

Don't expect any 'magic pills'.

It is going to take a while,

Everyone taking a good, honest look in the mirror,

And everyone working hard in the same direction.

For the good of the whole,

And each of the individual participants,

And/Or groups of participants,

That make up the whole.

Not the good of Me, Me, and More Me...

The type of 'self-love' that Adam Smith was talking about,

In the quote at the beginning of this essay,

Is the 'poison-pill' of Narcissistic, Global Capitalism,

Self-destructing on Wall Street -- and throughout America,

With reverberations being deeply felt around the world.


-- DGBN, November 23rd, 2008.

-- David Gordon Bain.

-- Democracy Goes Beyond Narcissism.

-- Dialectic-Gap-Bridging-Negotiations...

Are still in process...

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