A blupete Essay

The Market, Part 7 to blupete's Essay
"On The Nature Of Man"

"The propensity to truck, barter and exchange one thing for another," as Adam Smith wrote, "is common to all men, and to be found in no other race of animals." Because of this propensity men reap the benefit of an extended order of collaboration: the "market." The market is an egocentric mechanism which drives a complex of interacting individuals or groups of individuals, all working consciously to advance themselves, and by so working advance society, albeit unconsciously, as a whole. The market is a natural system bringing forward what men want, whether these wants, subjectively speaking, be "good," or "bad." The grand goal of efficient production and distribution is achieved by allowing each one within the whole of society to be the manager and judge of his own affairs. By allowing people to be free -- quite aside to being a constitutional goal, in itself -- people, without being directed, and with little or no rancour, go about feeding, clothing, housing and entertaining themselves.

As History will show the development of human life became wholly dependant on a regular market process. In the age of barter the market process was readily intelligible, but, in an age of abstract interpersonal processes and indirect exchange, the economic order is simply not understandable, even to the most enlightened individual perception. (For example, money and its institutions, which traditionally have so offended moralists, are subjects which bewilder specialists.)

The simple and timeless fact is, as described by Adam Smith in 1776, that, given the diversity of man's knowledge, only the individual through his own industriousness and ingenuity, is able, in a random way, of accessing (if one will forgive the computer lingo) the bit or bits of information required to advance his own particular need or want.


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Peter Landry

2011 (2019)