Tag Archives: history

DSA/D&S Movie Night

Democratic Socialists of America, Boston and the Dollars and Sense Collective present: 

The Wealth of Nations: A New Gospel

Date:   January 12, 2017
Place:  Encuentro 5, 9A Hamilton Place, Boston, MA 02108-4701 (Near Park St. T)
Time:  7 PM

Discussant:  Autumn Beaudoin of Dollars and Sense

Disconnecting Adam Smith the economist from Adam Smith the moral philosopher has led to tragic distortions that have profoundly shaped our global economic system, as well as a complete misrepresentation of what Smith meant by a “free market.”  

“The Wealth of Nations: A New Gospel”, part of documentary series on capitalism,  shows how a



misinterpretation of Adam Smith has led to distortions that have tragically shaped our global economic system.  The underpinnings of contemporary capitalism lie in an ideology born in the 19th century; one which privileges greed over other equally deep-seated human drives.   Smith did not favor a completely unregulated free market – in fact, he thought it would be disastrous.

The film features interviews with Noam Chomsky, economist Ha-Joon Chang, and Smith biographer Nicholas Phillipson, as well as archival footage of free market ideologues such as Ayn Rand and Milton Friedman.

Autumn Beaudoin believes that educating individuals about their personal finances is the first step in creating awareness around the ways in which the current capitalist financial industry is exploitative of the individual. In their role on the Dollars and Sense collective, Autumn directly engages in creating awareness of the necessity to change our current political and economic systems of oppression.

Film courtesy of Icarus Films.

Isocrates and us or “plus ça change, plus c’est la même chose”

Bust of Isocrates


 “When I was a boy, being rich was considered so secure and honorable that almost everyone pretended he owned more property than he actually did possess, because he wanted to enjoy the prestige it gave.  Now, on the other hand, one has to defend oneself against being rich as if it were the worst of crimes… for it has become far more dangerous to give the impression of being well-to-do than to commit open crime; criminals are let off altogether or given trivial punishments, but the rich are ruined utterly.  More men have been deprived of their property than have paid the penalty of their misdeeds.”

This was the Greek, Isocrates, writing I guess in the early 4th Century BC.  The thing is, if de Ste. Croix is correct in his analysis in The Class Struggle in the Ancient Greek World,  Isocrates wrote these words during a time when, in fact, economic inequality was growing in much of the Greek world.  The demos was on the defensive; the oligarchic sector was (correctly) realizing that their interests were better served by supporting outside imperialists like Phillip II of Macedon (and his successors), who would permit them free reign to squeeze the local peasantry, as long as they eschewed outright political ambition beyond the local level, but would be very suspicious of the potential for a popular uprising by hoi polloi.  And, in fact, under, first, the Macedonian kings, and later the Romans, the last vestiges of democracy were stamped out, opening the world to more and more vicious exploitation of the poor and middling by the uber-rich, until finally the Emperors Diocletian and others basically enserfed the entire population below the economic and political elite.  Economic, and political, inequality in the late Roman Empire reached a level that we, in our still relatively open societies, can barely conceive.

The thing that bothers me about the Isocrates quote I opened with is that it seems so modern.  We again find ourselves subject to “poor me” complaints from the rich, fuming, for example, that they pay the lion’s share of income taxes (but taking as a natural right their claim to an even more disproportionate share of the fruits of economic production), and decrying the slender benefits allotted to the “undeserving” poor; calling for us to be tough on crime (while we imprison, in the U.S. more of our population than any other country in the world, and more black men than were slaves  before the Civil War), and for tax cuts for the “creators” of (mostly non-existent) Mac-jobs.  So, while financial markets soar post-depression, we cut unemployment benefits and food stamps in time for Christmas, and produce movies in which criticism of the excesses of the corrupt ruling class is so muted that members of that class can cheer at screenings, while critics on the left complain, in effect, that the director is praising with faint “damns”.

And I think:  It’s been 2400 years.  Why are we still fighting the same fight?

— also blogged on Persistent Wondering