Is Nobody Ashamed?
“7 reasons Wall Street bankers’ brains act bizarre” Insatiable Gorilla, Invisible Hand and fear of death
“Our Insatiable Gorilla is actually a metaphor for something far more profound, that Gorilla is the all-almighty Invisible Hand of capitalism that Adam Smith deified in his works on “The Theory of Moral Sentiments” and “The Wealth of Nations.”
Yes, the Insatiable Gorilla we all know is the mysteriously cryptic Invisible Hand guiding capitalism in the new century:”
This particular piece of nonsense was destined for the next group of Loony Tunes to be posted, until I read further and found it referred to a speech by the President at a Morgan Stanley get together, where apparently the theme of the President’s speech was how “Working at Morgan Stanley” is like making love to a gorilla,” He was I assume only half joking.
The rest is too tiresome to repeat. What a state modern economics is in when it leads to such silly comments from a major banking institution, presumably in charge of billions of dollars of investment upon which millions of jobs rely. Let along the overall prosperity of US capitalism.
And this nonsense is laid at the door of Adam Smith, encouraged by my colleagues giving it intellectual respectability! Are none of them ashamed even just a little at what they have done since 1948 to spread this direct falsification of Adam Smith’s life work? And not just the neoclassical school is culpable, but also Hayek, et al, and assorted Austrians too. Even Heterodox economists join the consensus spread the nonsense as well.