Monday, March 9, 2015

Law of Supply and Demand, Justice, Karma

Entailed in the 'Law of Supply and Demand' is the achievement of an equilibrium on both sides of an exchange, and, hence, of a commensuration between what each party gives and receives. Now, as has been previously discussed, common to Retributive Justice and Karma is such commensuration, while one significant distinction is that the former is an artefactual institution, whereas the latter is typically conceived as either a divine or a natural force. But, Smith presents the Law as inherent in Economic activity, and, further, his more fervent laissez-faire followers insist that it is not to be interfered with. Hence, that cardinal principle of Capitalism is more akin to Karma than to Retributive Justice.

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