Monday, December 1, 2014

Invisible Hand and Revolution

As has been previously discussed, if, as Smith proposes, there is inherent in Economic activity a tendency towards equilibrium, the scope of its influence can be generalized from specific negotiations, to a society as a whole.  Now, as representing a resolution of antagonistic interests, the representation of that tendency, his Law of Supply and Demand, aka the Invisible Hand, can be recognized as governed by Dialectical Logic.  But, the latter, according to Marxism, resolves social contradictions by revolution.  Thus, the Invisible Hand can be recognized as the motor of the transformation from Capitalism into Socialism, as conceived in Marxism.

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