1. The Social Gospel enthusiasts cloak their aims in the language of religion, and suggest that the alternative is the evil profit motive,
and capitalism. Yet, morality is actuality at the center of capitalism. Early economic thinker Adam Smith famously wrote about economic concepts in An Inquiry into the Nature and Causes of the Wealth of Nations, in 1776.
a. Smith propounded the idea that free trade benefits both sides, and how the invisible hand of self-interest benefits society overall.
2. But it was Smiths The Theory of Moral Sentiments, published 1759, revealed how market rewards encourage virtues such as hard work, what he called industry, and trustworthy behavior. In the chapter called Of the influence and authority of the general Rules of Morality, and that they are justly regarded as the Laws of the Deity, he asked What is the reward most proper for encouraging industry, prudence, and circumspections? Success in every sort of business. The Theory of Moral Sentiments by Adam Smith 3
a. So, capitalism is not only the best economic system, but it is the best way to encourage people to engage in hard work, and to be honest in their dealings.
3. Marxism rested on the assumption that the condition of the working classes would grow ever worse under capitalism, that there would be but two classes: one small and rich, the other vast and increasingly impoverished, and revolution would be the anodyne that would result in the common good. But by the early 20th century, it was clear that this assumption was completely wrong! Under capitalism, the standard of living of all was improving: prices falling, incomes rising, health and sanitation improving, lengthening of life spans, diets becoming more varied, the new jobs created in industry paid more than most could make in agriculture, housing improved, and middle class industrialists and business owners displaced nobility and gentry as heroes. https://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2007&month=05
4. A couple of years ago, Amanda Hocking needed to raise a few hundred dollars .. We find Hocking sitting in her tiny, sparsely furnished apartment in Austin, Minnesota. She is penniless and frustrated, having spent years fruitlessly trying to interest traditional publishers in her work . she is more than willing to drive eight hours but has no money for petrol, let alone a hotel for the night. What is she to do? Then it comes to her. She can take one of the many novels she has written over the previous nine years, all of which have been rejected by umpteen book agents and publishing houses, and slap them up on Amazon and other digital ebook sites. Surely, she can sell a few copies to her family and friends? All she needs for the journey to Chicago is $300 Over the past 20 months Hocking has sold 1.5m books and made $2.5m. All by her lonesome self. Not a single book agent or publishing house or sales force or marketing manager or bookshop anywhere in sight. Amanda Hocking, the writer who made millions by self-publishing online | Books | The Guardian
From chapter 12 of "Cowards," by Beck and Balfe.
a. Smith propounded the idea that free trade benefits both sides, and how the invisible hand of self-interest benefits society overall.
2. But it was Smiths The Theory of Moral Sentiments, published 1759, revealed how market rewards encourage virtues such as hard work, what he called industry, and trustworthy behavior. In the chapter called Of the influence and authority of the general Rules of Morality, and that they are justly regarded as the Laws of the Deity, he asked What is the reward most proper for encouraging industry, prudence, and circumspections? Success in every sort of business. The Theory of Moral Sentiments by Adam Smith 3
a. So, capitalism is not only the best economic system, but it is the best way to encourage people to engage in hard work, and to be honest in their dealings.
3. Marxism rested on the assumption that the condition of the working classes would grow ever worse under capitalism, that there would be but two classes: one small and rich, the other vast and increasingly impoverished, and revolution would be the anodyne that would result in the common good. But by the early 20th century, it was clear that this assumption was completely wrong! Under capitalism, the standard of living of all was improving: prices falling, incomes rising, health and sanitation improving, lengthening of life spans, diets becoming more varied, the new jobs created in industry paid more than most could make in agriculture, housing improved, and middle class industrialists and business owners displaced nobility and gentry as heroes. https://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2007&month=05
4. A couple of years ago, Amanda Hocking needed to raise a few hundred dollars .. We find Hocking sitting in her tiny, sparsely furnished apartment in Austin, Minnesota. She is penniless and frustrated, having spent years fruitlessly trying to interest traditional publishers in her work . she is more than willing to drive eight hours but has no money for petrol, let alone a hotel for the night. What is she to do? Then it comes to her. She can take one of the many novels she has written over the previous nine years, all of which have been rejected by umpteen book agents and publishing houses, and slap them up on Amazon and other digital ebook sites. Surely, she can sell a few copies to her family and friends? All she needs for the journey to Chicago is $300 Over the past 20 months Hocking has sold 1.5m books and made $2.5m. All by her lonesome self. Not a single book agent or publishing house or sales force or marketing manager or bookshop anywhere in sight. Amanda Hocking, the writer who made millions by self-publishing online | Books | The Guardian
From chapter 12 of "Cowards," by Beck and Balfe.
