Modern Capitalism is a “fallacy.” Smith said (I paraphrase): “If you are “good” to society (if what you produce is wanted by society), you can make a profit, the Invisible Hand of the Market will see that it is fair.”

Now, capitalists legitimize themselves by saying, following Nobel Prize-winner Friedman “My only motive as a capitalist is to make profits, no matter what! That’s what we need to do for capitalism to function.”

The reason why they get away with it is that the “Invisible Hand” doesn’t work in a global Market Economy because, to work, it has to function “locally,” where consumers can compare price and quality.

In Smith times, the “market” (le marché) is a place where consumers “walk” to meet all the merchants whom they can compare and take decisions, ultimately making the Invisible Hand works.

Not anymore. Because of the pervasive monopolistic tendencies of modern Capitalism, consumers don’t have any choice, and thus cannot be parts of an Invisible Hand anymore.

I am a 74-year-old generalist, with two general BA and one unspecialized MA in ZooAnthropoSociology all undertaken to find out what’s wrong with humanity.

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