Posts tagged Adam Smith
Tapped: The Psychic Cost of Contemporary Work

You see, the libertarian model – which is based largely on the work of Adam Smith – is that employees sell their labor to employers. Lacking capital, this is the only means by which many of them can avoid homelessness and starvation. It is, in short, a buyer/seller relationship, the way that we might conceive of the sale of a commodity or the purchase of necessary supplies. The logic goes that employing a waiter is the same kind of deal as buying a bottle of floor cleaner for that same waiter to use after close to mop up after the day’s business.

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What Actually Is Capitalism?

One thing I noticed during the course of this conversation is a confusion of terms, though. We didn’t agree on what capitalism actually is. I’ve been turning this idea over and over in my head and that’s what I’m going to do today: provide a working definition of the problem.

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