Posts Tagged invisible hand
I recently posted my thoughts on Hans Rosling’s TED Talk, “The Magic of the Washing Machine,” which does a fine job of illustrating how progress can feed progress, and how human ingenuity is at the heart of it.
In my most recent post at Common Sense Concept, I focus on a different phenomenon: our tendency to greet such progress with opposition:
If humans are really the “ultimate resource” as Julian Simon suggested, it’s no wonder that the continuous maximization of human time and freedom will lead us toward ever-increasing output. Yet just as the fruits of industrialization and widespread innovation seem to be evidence of some kind of “magic,” various opposing forces seem intent on demonstrating their own variety of bizarre tricks. Alas, just as society seems to progress, we exhibit a strange tendency toward regress.
Yet not all opposition leads to regress. We should indeed meet each new technological innovation with plenty of skepticism and criticism. In some sense, that’s what being a conservative is all about. So how do we properly discern? How do we know what will truly lead to progress and what will actually push us backwards?
We don’t. At least not always — which is why I think the more important question has to do with who is doing the discerning rather than what we are discerning about. As Thomas Sowell says, and as I quote quite frequently, “The most basic question is not what is best, but who shall decide what is best.”
Here’s more from the post:
We will always have error, and we will always have disagreement, particularly in the realm of progress. But when we as individuals truly screw up, the consequences come quickly. When disruption comes, we humans are pretty good at responding and adapting. Nobody likes to look stupid and nobody prefers to be on the “wrong side of progress.” In a society guided by self-interest a la Adam Smith, the invisible hand typically spanks us when we need it, and progress gets back on track accordingly.
So what happens when the central planners mess up? What happens when lofty bureaucrats and paper-pushers start making decisions about what light bulbs we use, what toilets we flush, and how much salt goes in our French fries?
An inescapable, large-scale game of Read the rest of this entry »
Here’s an excerpt:
We take seven years to complete our bachelor’s degrees, and when we’re finally finished, we complain about our debt. We specialize in fields like literature and “diversity studies” and then complain about the lack of high-paying jobs. We live with Mom and Dad till we’re 30, only so we can have enough cash to buy the newest gadgets and clothes. All of this delayed development – all of this self-absorbed, childish dilly-dallying – has led to an unproductive and entitled generation.
My proposal? A good old-fashioned “thump in the rump” from the invisible hand:
In our current economy, we still have plenty of time to choose lesser punishments – to get serious about our goals, to reexamine our futures, to readjust our attitudes, to pursue new careers. But at some point, drastic misbehavior will require drastic measures. And when it comes to my generation’s defiant, entitled, know-it-all mentality, I fear that we will reject the milder forms of discipline in hopes that we can escape any discomfort altogether.
To read the full article, click here.
The Royal Society for the encouragement of the Arts recently released a video titled “The Empathic Civilisation.” The video is narrated by social commentator Jeremy Rifkin, who has released a book by the same name.
You can watch the video here:
The main gist of the video is that we are soft-wired for empathy, and thus, if we are to construct an “empathic civilization,” we must construct systems that properly leverage this key human component.
Rifkin’s rant is a long one, and there is much to enjoy, much to agree with, and much to disagree with, but the primary thing that rubs me wrong is his suggestion that empathy and self-interest are mutually exclusive.
He suggests that we are not soft-wired for aggression, violence, self-interest, and utilitarianism, but rather for sociability, attachment, affection, companionship. Aside from the audacity of making such a claim about the human disposition, I’m not sure why he lumps self-interest (or even utilitarianism) in with aggression and violence. If we are soft-wired for empathy, and if we find pleasure and reward in discovering Read the rest of this entry »