Source: EconLog
by Pierre Lemieux
“When he trades in the abstract locus that the market is, an individual aims at satisfying his preferences, whatever they are. He pursues his own ends, goals, or purpose, even when he claims he doesn’t. An individual’s possible purpose of charity, solidarity, or communality is what this individual subjectively considers such. He doesn’t pursue the ‘purpose of American politics,’ except perhaps if he has been infected by naive democratism or become, to quote Adam Smith, one of these ‘insidious and crafty animal[s], vulgarly called a statesman or politician, whose councils are directed by the momentary fluctuations of affairs’ (The Wealth of Nations, Book IV, Chapter 2).” (05/31/25)
https://www.econlib.org/the-free-market-is-not-a-tool-for-politicos/