Theory of Moral Sentimen Adam Smith Essay - 808 Words

Unfortunately, the vast majority of human trades do not require imagination - they do not even require intelligence. Why employ a doctor with 8+ years of schooling, if his job could be automated? The problem with this premise is that innovation generally requires an affluent background. First off education is a must. The person who could cure cancer has probably been born many times over already - but most likely in the inner city somewhere, and will never be given the education for his/her intelligence and skills to bear fruition. Secondly, innovation requires leasure time. Bill Gates tinkered in his parents garage on their dime - its unlikely he would have founded Microsoft if he was working 12 hours a day in a coal mine. And†¦show more content†¦The problem with most Marxist theories is they treat capitalism as some kind of entity that has a devious underlying purpose. Capitalism is no more than the chosen actions of individuals, more a verb than a noun in this context. Individuals make the decisions of whether or not to trade one good for another because they feel the good they receive has more benefit than the one they provide as compensation. If human innovation sits on the sidelines, it does so of our own choosing, the robots are just an excuse we use to become complacent. Now it is very possible and probable that people who own businesses seek a means to drive down the costs of labor, labor is expensive after all. But so what? All of those big nasty profits these companies get instead dont just sit in some Scrooge McDuck vault somewhere never again to see the light of day, they are typically reinvested elsewhere. These things that get reinvested into also provide sources of employment, and more hiring competition, placing checks and balances on the cost of labor. Marxist theories might work great if humanity brought them to their logical conclusion and abolished all notions of individual personal property, until we can convince or coerce every single individual to give up any notion of ownership it remains a pipe dream with very little grounding in reality and generally