Thursday, November 24, 2011

Weird Article of the Year

Shelby_H_Moore III (has published articles on FinancialSense.com, Gold-Eagle.com, SilverStockReport.com, LewRockwell.com. Is the sole or contributing programmer of numerous (some million+ user) commercial software applications, such as Corel Painter, Cool Page, WordUp, Art-O-Matic, etc.. Has an education in engineering and math) posts in The Market Oracle
HERE http://www.marketoracle.co.uk/Article31717.html

“Understand Everything Fundamentally, The entropic force is fundamental”

“Did Adam Smith know entropy?
Free market (i.e. anarchist) capitalism didn�t fail, rather the world has been doing collectivism, which leads to socialism as we now see occurring. Adam Smith was advocating collectivism when he wrote in the Wealth of Nations, that tax should be apportioned relative to income.
Perhaps Adam Smith was blind to the mechanism of his �invisible hand�. This fundamental concept is the entropic force, that 99.9% of the people in the world don�t grasp.”


Comment
You have to read the weird (and I mean weird) article to judge the remarks about Adam Smith and everything else. He seems to be punting gold investments.

Taxation according to income is not socialism, nor was Adam Smith “blind to the mechanism of his �invisible hand�”. There was no “mechanism” to be 'blind to', which is a modern invention, not found in Smith's texts. It was a metaphor, as misunderstood by Shelby Moore and by most modern economists, and still wrong for all that.

It only shows what happens when engineers and maths graduates let loose on something not amenable to their skills. Sad.

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2 Comments:

Blogger airth10 said...

I think I will enter the fray again.

I agree that Smith knew nothing of entropy. He was concerned with other matters. Entropy wasn't really connected to economics until Herbert Spencer first heard of the laws of thermodynamics.

Entropy doesn't only apply to physical matter. It also applies to ideas and politics. If people's ideas don't change and remain static about human governance, social systems atrophy and collapse. Communism collapse because it was a closed system. It didn't change, introduce or experiment with new concepts of governance like liberal democracy has.

Smith may not have known about entropy. But what he proposed, a system of governance where people would be allowed and encourage to pursue their own interests, was a system that would be self-perpetuating and a combatant against the inevitability of socioeconomic entropy.

3:49 p.m.  
Blogger Gavin Kennedy said...

airth
That depends on whether the pursuit of 'their own interests' added to or detracted from the pursuit by others of their self-interests.
Such conflicts can undermine a society. Smith knew that 'who or what governs the governed' is a fragile basis for whatever any society accepts as its 'system of governance'.
Gavin

8:49 a.m.  

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