Friday, January 29, 2010

Friday Philosophy

Stuart Chase (1888-1985) was an American engineer and economist most famous for his commitment to the ideals of technocracy. Here's something he wrote back in 1932 that, I believe, remains a largely accurate summary of the motives of capitalists:

"It is assumed, in a left-handed way, that in accumulating
the power, or in playing the game, we contrive somehow to
grease the wheels of industry and serve a social purpose.
Occasionally such is indeed the case, but normally this
reasoning is pure rationalization. What man, starting in
business, asks himself with any care whether the work he
proposes to do will strengthen or weaken the economic
system; whether it will serve a social function; whether
it will increase or decrease the evil effects of the business
cycle; whether it will choke or expand the flow of
purchasing
power? Such questions are normally
undreamed of, and are
displaced by others:
is there money in the venture? or, is

there fun in it?"

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