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Zeitgeist: Moving Forward - The Free Market (Snippet)

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[The Market] You get it started with John Locke. And John Locke introduces property. He has three provisos for just private right and property. And the three provisos are: There must be enough left over for others and that you must not let it spoil and that you, most of all, must mix your labor with it. It seems justified- you mix your labor with the world then you are entitled to the product. And as long as there's enough left over for others and as long as it doesn't spoil and you don't allow anything to go to waste then that's okay. He spends a long time on his famous Treatises of Government and it's since been the canonical text for economic and political and legal understanding. It is still the classic text that's studied. Well, ... after he gives the provisos and you're almost thinking at the time whether you are for private property or not- he has given a very good and plausible and powerful defense of private property here- Well, he drops them! He drops them like that. Right in one sentence. He says, 'Well, once the introduction of money came in by men's tacit consent... " then it became- and he doesn't say all the provisos are canceled or erased- but that's what happens. So, now we have not product and your property earned by your own labor- oh no- money buys labor now. There is no longer consideration whether there is enough left over for others; there is no longer consideration of whether it spoils- because he says money is like silver and gold and gold can't spoil- and therefore money can't be responsible for waste... which is ridiculous. We are not talking about money and silver, we are talking about what its effects are. It's one non sequitur after another. Just the most startling logical legerdemain that he gets away with here. But it fits the interests of capital owners. Then Adam Smith comes along and what he adds is the religion to this... Locke started with 'God made it all this way- this is God's right...' and now we get also with Smith saying 'it's not only God's...' well, he's not actually saying this but this is what's happening philosophically, in principle- he's saying that 'it is not only a question of private property...' That's all now 'presupposed'- It's Given! And that there's 'money investors that buy labor' – Given! There's no limit to how much they can buy of other men's labor, how much they can accumulate, how much 'inequality'- that's all given now. And so he comes along and what his big idea is- and again it's just introduced in parentheses, in passing... You know, when people put out goods for sale- ... the supply- and other people buy them- the demand and so forth, how do we have supply equaling demand or demand equaling supply? How can they come into equilibrium? And that is one of the central notions of economics, is how do they come into equilibrium. And he says: it's the “Invisible Hand of the Market” that brings them into equilibrium. So, now we have "God is actually imminent”. He just didn't give the rights to property and all its wherewithal and its "natural rights" regarding what Locke said... now we have the system itself AS "God". In fact, Smith says, when he talks and you'll never find this quote, and you have to read the whole of the Inquiry into the Wealth of Nations to find it. He says: 'the scantiness of subsistence sets limits to the reproduction of the poor and that nature can deal with this in no other way than elimination of their children.' So he anticipated evolutionary theory in the worst sense... this is well before Darwin. And so he called them the 'Race of Laborers'. So you can see: there was inherent racism built in here, there was an inherent life blindness to kill innumerable children. And he thought: 'That's the Invisible Hand making supply meet demand and demand meet supply.' So, see- how wise "God" is? So you can see a lot of the really virulent life destructive, eco-genocidal things that are going on now have, in a way, a 'thought gene' back in Smith too.

Video Details

Duration: 4 minutes and 34 seconds
Year: 2011
Country: United States
Language: English
Producer: Peter Joseph
Director: Peter Joseph
Views: 122
Posted by: tzmgermany on Apr 27, 2012

This video features a short segment of the movie Zeitgeist: Moving Forward, which you can watch here: More information on the zeitgeist movies can be found here: Repository-Location:

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