Scene on Radio S7 E4: Invisible Hand Guy?
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Jul 10, 2024 Discover the historical roots of capitalism through Enlightenment thinkers like Spinoza and Smith. Explore the shift in mindset towards wealth accumulation, liberalism, and democracy. Unveil Adam Smith's complex philosophy beyond the 'invisible hand,' advocating for fair markets and government intervention. Dive into the evolution of capitalism through firms and the dual nature of innovation and inequality.
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Justification for Exploitation
- Thinkers like Bacon, Descartes, and Locke provided justification for exploitative wealth-building.
- This new "permission structure" mirrored the racial hierarchy used to justify slavery and colonization.
Protestant Reformation and Wealth
- The Protestant Reformation, particularly John Calvin's ideas, shifted views on wealth accumulation.
- Calvin's "Protestant work ethic" suggested that wealth could be a sign of salvation, softening the stance against usury.
Capitalism and the Enlightenment
- Scholars often want to link capitalism to the Enlightenment's positive aspects like rationality and human rights.
- However, the Enlightenment also had a dark side entangled with slavery and oppression.