07 - -president regan and republicans-president cater and...

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9/20/07 Smith’s explanation for “market corrections” - “natural self-interest and rapacity” leads men to produce more; this drives down the price and makes everyone better off - then, even the poor can enjoy the fruits of the rich person’s selfishness - “without intending it, without knowing it, [the greedy] advance the interest of society” market theory as transubstantiation - how can negatives sum to a positive? Only by supernatural arithmetic - Smith’s theory of markets, “the invisible hand,” embraced by “economic science,” is theological, derived from Stoicism - Invisible hand of General Motors - Economic theory can be ideological Consequences of economic rationality - economic theory of markets: 1. Capitalists are morally upright and 2. Capitalist society can achieve moral perfection - hence, ethics defined by efficacy and structure of markets - “social being determines social consciousness” religion and political ideology - ascetic Protestantism and “civil religion”
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Unformatted text preview: -president regan and republicans-president cater and the democrats-fundamentalist Christians (biblical literalists tired to republican party) market ideology and politics-market (people) protection (i.e. health care) and the democrats-free market policies and republicans race and voting-African Americans most biblical literalist-For African American voters, racial ideology trumps religious and market ideology Market and religious ideological voting in US presidential elections Low education High education African American Not ideological Not ideological White Not ideological Ideological Voting and society-voting depicts how social ideology influences individual behavior: religion, market, ideology, and race-Christianity present during rise of capitalism, and still reverberates in US society-Race is also fundamental element of US ideology – it can trump religious influences-...
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07 - -president regan and republicans-president cater and...

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