Monday, July 09, 2007

What's wrong with most 'pro-capitalist' thinkers

I think I realized how to explain what's wrong with most so-called "pro-capitalist" thinkers. They think they've figured out how the market works, and then they, performing the same act of hubris that "anti-capitalist" thinkers do, wish to engineer this mechanism themselves.
They want to second-guess the collective consciousness. But humanity as a whole, in its market order, even if most of the individuals in it were as stupid as you think they are, is way, way smarter than you (or any committee) could ever be. Because it has calculated (in the meta-mathematical sense) the revealed preferences of everyone.
Adem's on a fine roll. His language
is precise and compact, a rarity
these days.

Check out his blog.