Tuesday, January 13, 2015

Invention and Invisible Hand

According to Smith's Behaviorist Atomism, an invention can be the product of only some individual's self-interest, and can become generally beneficial only via a deus ex machina,e. g. the Invisible Hand. In contrast, on the premise of a species instinct that seeks the optimal collective well-being, the general beneficiality of innovation is not as miraculous. For, that instinct can be the principle that both introduces novelty into the system, and guides its distribution. Thus, absent it, Smith's Atomism requires a Theistic element, as opposed to Newton's Deistic clockmaker who never intervenes in his contraption.

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