Wednesday, May 27, 2015

Capitalism and Profit

Smith's Propensity to Barter seeks an equitable exchange, constituted by two surpluses filling two deficiencies. Thus, it does not include Profit-seeking. Now, the Market, in general, is the concatenation of such simple exchanges. Hence, a free-market, i. e. Capitalist, system which excludes Profit-seeking and -taking, can be derived from Smith's premises. Now, such a system might better explain the satisfaction of all the needs of all the members of a society, than the best means to an accumulation of wealth. But, it might also avoid the Marxist critique that targets the exploitation that is constituted by profiting from the labor of another. Regardless, that variety of Capitalism is distinguishable from the more prevalent one, i. e. from the one in which Profit-seeking, and, perhaps, Greed, is the groundlessly posited as the fundamental Psychological principle.

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