From an economic perspective, what we are all experiencing is as simple as it is painful: what we are experiencing is the voluntary and forced breaking down of the relationships we rely on to flourish as social creatures.
Morality can never have as its aim anything besides what is right in its own right regardless of the incentives or consequences.
In the first volume of Capital, Marx writes: ‘Englishmen, always well up in the Bible, knew well enough that man, unless by elective grace a capitalist, or landlord, or sinecurist, is commanded to eat his bread in the sweat of his brow, but they did not know that he had to eat daily in his bread a certain quantity of human perspiration mixed with the discharge of abscesses, cobwebs, dead black-beetles, and putrid German yeast, without counting alum, sand, and other agreeable mineral ingredients’.
Adam Smith’s skill was as a storyteller of the first order. It takes one a while to realize where his appeal lies. As many have noted, his Wealth of Nations is rambling, polemical, and rather cavalier with evidence. All this sits rather strangely with the popularity of his writing, both then and now. How to understand that appeal? We suggest it may be found not in any skill at constructing careful and detailed argument, but in his ability to tell stories.