The problem I see with utilitarianism, or any form of consequentialism, is not that it gets the wrong answers to moral questions. I think just about any moral theory, worked out intelligently, and applied with good judgment, would get just about the same results as any other.
Allen W. WoodCapitalism has not proven to be a transitional form, a gateway to a higher human future.
Allen W. WoodWe usually can't know how, and we probably should not even ask, how our lives contribute to a better world.
Allen W. WoodIn fact people do not know enough about themselves and what is good for them to form a sufficiently definite conception of the general happiness (or whatever the end is) to establish definite rules for its pursuit.
Allen W. WoodThose who see Smith as a defender of capitalism - as it existed in Marx's day, or as it exists today - show above all that they are not living in the real world. They are behaving as though the undeveloped form of capitalism Smith studied is still with us.
Allen W. WoodAdam Smith saw the greed of modern capitalism for what it was - a form of destructive ambition that may have favorable effects on the productive capacities of society, but which is of no direct benefit to anyone - not even to the greedy themselves, whose illusory chase after a will-o-the-wisp leaves them morally bankrupt and unhappy.
Allen W. Wood