"Economics amounts to a science of the relationship of the economic things amongst themselves; for the science of economic matter the unemployed represent an economic zero lacking both in productive contribution and effective demand. That is, for economic thought the essence of economics is not the satisfaction of individual human needs. Rather, the essence of economics is economic nature, which it presumes to be valid because of itself. Yet, it does not tell us what it is. Economics ascribes subjective power to economic things and argues that the movements of economic quantities express value preferences, which reveal a rationality of economic action that expresses itself by price movements, which manifest a dynamic of competition that ‘is supposed to keep the whole process alive and even cause it to progress, as if it were moved by an “invisible hand”’ (Adorno, 2000: 67). As if by magic, the invisible hand of the market is supposed to transform private vices into public virtues taking care of ‘both the beggar and the king’ (Adorno, 1990: 251). For the sake of economic insight into the social laws that govern the reproduction of society, it translates quantities of ‘capital’ into algebra and, on the condition of undistorted competition in undivided markets, assigns the power of economic regulation to some omnipotent invisible hand that tells the social individuals what to buy, where to invest, and how to achieve optimum factor efficiency of its human capital."
https://isr.press/Bonefeld_Negative_Dialectics/index.html
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