Friday, April 24, 2015

Self-Interest, Interest, Growth

While Smith conceives Self-Interest to be the motor of his system, that of contemporary Capitalism is Interest. In addition to the perhaps unwitting depersonalization expressed in tha dropping of the 'Self-' prefix, the phrase 'seed money' hardly converts an Interest-facilitated loan into an agricultural enterprise. Finally, since Growth entails the preservation of internal coherence, a quantitative increase that can be comprised of a combination of sharp gains and widespread losses hardly qualifies as Economic 'growth'. So, the use of biological metaphors to promote Economic policy, a staple of contemporary Political rhetoric, does not hold up well to rigorous scrutiny.

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