“It is not from the benevolence of the butcher,
the brewer, or the baker, that we expect our dinner,
but from their regard to their own interest.
We address ourselves, not to their humanity
but to their self-love,
and never talk to them of our own necessities
but of their advantages.“
Adam Smith, The Wealth of NATIONS, 1776

I’m sure you already know that Adam Smith didn’t invent capitalism. As Marx invented communism and Lenin invented bolshevism.

Adam Smith had done nothing more and nothing less but described what was going on around him. How a bunch of people acting according to their ‘moral sentiment’ took care of business. How individual needs – for meat, beer and bread – were met and how the wealth of nations was built in the process.

“To some people, Gen Z may seem salary ‘obsessed’. In some cases, say experts, it may be hard for older generations to understand why young workers have such an intense focus on pay. “At Gen Z’s age, older people worked 40 hours a week, and made enough money to buy a house and have barbecues on the weekend,” says Corey Seemiller, an educator, researcher and TEDx speaker on Gen Z. “Gen Z works 50 hours a week at their jobs, and another 20 hours a week side hustling, yet still make barely enough to cover rent.””

Do you notice any need being fulfilled, in earnest, in this, new, situation?
OK, things were not that rosy in Smith’s times either. Most people had to work hard, a lot harder than today, to make ends meet. But since Smith and until some 40 years ago things went better. Year after year.
When Smith was writing his books, Regular Joe-s used to live in crowded shacks, usually rented out from their employers. Nowadays, most of those in their 50-ies and 60-ies own the house they live in. Which house has nothing in common with the afore mentioned shack.

So, is this the new kind of progress?
A looking back in anger kind of progress?
Are you even aware of the huge number of people pondering whether capitalism is not as good as advertised – by those who have already enjoyed its spoils? For the simple reason that in the current (no longer) free (enough) market so many people can no longer enjoy the kind of economic well being their grand parents took for granted…

As someone who had experienced both communism and capitalism, the situation is clear.