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A PoliSci professor just released a political theory book called "Marx's Inferno" (the thesis is that Marx structured Capital like Dante's journey through hell
by RodericDay 10y ago
A PoliSci professor just released a political theory book called "Marx's Inferno" (the thesis is that Marx structured Capital like Dante's journey through hell in The Divine Comedy). It's very coherent with the thoughts you're voicing here. It's also a re-visit of Marx's theories in general.
One of my interpretations: if the invisible hand of the market describes the powerful ability of markets to turn self-interested actors into producing general welfare improvements by competing: cutting costs, producing innovation, etc.
Then, the invisible hand of the market must obviously have the same impact on good outliers. If you are trying to do something evil beyond what the market will bear, you're out of luck. If you're trying to do something good beyond what the market will bear, though, you're just as out of luck.
He goes very in depth into the fact that expressing our desires via revealed preferences in exchange/commerce removes a lot of our ability to voice what is exactly what we want.