Adam Smiths Mistake

Download or read book Adam Smith's Mistake written by Kenneth Lux and published by Shambhala Publications. This book was released on 1990 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith saw self-interest as the driving motivation of human affairs. Lux traces the failure of societies based on self-interest, from the misery of Charles Dicken's England, through the Great Depression, to the culture of narcissism of the past decade. He shows how Smith, and the economists who followed him, made a fundamental mistake: self-interest by itself leads to social strife, ecological damage, and the abuse of power. By recognizing Smith's mistake, we as a society can move forward to a time when benevalence rather than greed becomes the economic motivation of our society.