Desire, self-love and sympathy: The irony of discovering Adam Smith in post-capitalist economics

Abstract

In this article it will be argued that post-capitalism operates from a reductionist understanding of capitalism as a market-driven ideology with the private ownership of the means of productions as core value. Post-capitalism envisions that contemporary socio-economic issues will be addressed with the implosion of capitalism under the forces of the market itself. However, this implosion envisioned by post-capitalism has been undermined because capitalism has the ability to transform and adapt to changing circumstances. The work of Deleuze and Guattari has shown how capitalism functions as the commodification of desire – a socio-economic system or machine that has the ability to de-territorialise under the guise of liberty. Deleuze and Guattari trace this back to Adam Smith, who de-territorialises the notion of wealth as object associated with the Middle Ages to the private ownership of the means of production. This is re-territorialised and commoditised as capital and exchanged for profit with self-love as the framework in which commerce takes place. Self-love is a natural value system that operates in conjunction with sympathy that is conditioned by societal approbation to avoid excess and narcissism in order to benefit society. Hence, private means of production for Smith does not equate to private distribution and consumption. The work of Deleuze and Guattari provides a perspective on the failure of post-capitalism to bring about change because of the ability of capitalism to re-territorialise. The functioning of self-interest and sympathy in conjunction highlights the role of values and society as the socio-ethical framework in which commerce is embedded, which may provide alternative views regarding post-capitalism that are able to address socio-economic issues like poverty, unemployment and inequality.