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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Aubie Baltin
July 29, 2009
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Self-Interest is the most misunderstood, misinterpreted, concept relating to capitalism and is all to often used as a synonym , for Greed and Avarice , When in reality self-interest in relation to capitalism may actually amount to self restraint, or at least RATIONAL TEMPERING of the most common, if irrational, of all human impulses “self-interest“. ADAM SMITH referred to this as ‘informed self-interest’ while 200 years later AYN RAND labeled it as “enlightened self-interest“. The link of self-interest to the mutual concern for others expressed by a sales clerk “Can I help you?” or “Have a nice day” is most often overlooked or even scorned except by those who have had experience with any other economic systems, such as Fascism, Communism or experienced it in their dealings with a government agency. Yet the assumption that “each individual will always act in his own best self-interest “ is one of the cornerstones of all economic thought.

It is in the Enlightened, Informed, intelligent pursuit of self-interest that Smith’s “Invisible Hands” comes into play. Whereby the individual in his pursuit of his own self-interest can’t help but benefit society even though that is the farthest thing from his mind at the time. Once the informed individual realizes that the best way to satisfy his own greed is to produce a better product, perform a better service, do a better job etc. and sell it at a better price, all of society can’t help but benefit.

Secondly, Once we take into account that monetary rewards are not the only form of remuneration that the individuals desire, then we can plainly see that the benefits to society are linked directly to the pursuit of self-interest by observing the plaques on the walls in every hospital, JCC or Andrew Carnegie Library etc. Upon examination we can see the even Ayn Rand was wrong when she stated that capitalism and altruism don’t mix.