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What is the most logically empty argument that supports capitalism? (lemmygrad.ml)

submitted 1 year ago by LeninZedong@lemmygrad.ml to c/asklemmy@lemmy.ml

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Specifically, what arguments fail (that support capitalism) due to faulty evidence, misunderstanding of capitalism, lack of knowledge regarding Marxism, etc.?

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[–] PeepinGoodArgs@reddthat.com 10 points 1 year ago

Oh, you about to give me started now.

Adam Smith had another book entirely about morality. The current use of Adam Smith is wrong. Personally, for me, modern economics is a theory of selfishness, but if you go back and read Adam Smith both of the Theory of Moral Sentiments and the Wealth of Nations. You know, he connects morality, educational economics there, they're connected.

Modern economics says nothing about morality (because it tries to supplant all alternatives entirely), thus justifying all sorts of social ills.