Reclaiming Adam Smith, the Zen Priest
Gustav Peebles
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Guest Introduction
My guest today is Gustav Peebles: professor of economic anthropology at The New School, and author of an explosive essay on Adam Smith and the "Social Origins of Scarcity", among others.
In our conversation, we explore:
- The forgotten "splenetic" philosophy of Adam Smith, and how his Theory of Moral Sentiments challenges the popular notion of his economic vision
- How the conflation of wealth with wisdom is bad for individuals, but great for society
- How Adam Smith and Karl Marx agreed on false consciousness, but disagreed on what to do about it
- Social dividends, public goods, UBI, and pencils as a great example of communism
Hope you enjoy!
Key Discussion Topics
- Smith's "splenetic" philosophy and how his Theory of Moral Sentiments differs from conventional economic readings
- The relationship between wealth, wisdom, and social consciousness
- Points of agreement and disagreement between Smith and Marx regarding false consciousness
- Economic models including social dividends, public goods, and UBI
- Alternative economic frameworks and their practical applications
Time Map
Timestamps range from 3:20 (discussing Smith's intellectual "hijacking") through 57:00 (considering contemporary economic implications). Notable segments cover aging and philosophical awakening, individual versus societal interests, Silvio Gesell's monetary theories, utopian visions in economics, and reframing redistribution as "social dividends" rather than transfer payments.