Thursday Feb 29, 2024

The Lightning Podcast S1 E20: The Benevolence of Self-Interest

“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.” - Adam Smith

This week join Cyrus Palizban, Nico Sarian, and Zohar Atkins as we delve into the fundamental principles of the economic systems we live in through the lens of Adam Smith's quote from 'Wealth of Nations'. We discuss the power of individual self-interest in driving societal organization and productivity, and navigate through perspectives offered by Charles Fourier and Nassim Taleb. A major discussion point brought up is Franz Kafka's 'A Hunger Artist', using it to highlight possible inefficiencies in the career choices made by artists. The discussion evolves to touching upon Taleb's concepts of 'Mediocristan' and 'Extremistan', assessing risk-taking and job stability. By the end, the conversation ponders on the contrast between perceived and actual self-interest.

00:00 Introduction to The Lightning Podcast

00:22 Discussing Adam Smith's Quote from Wealth of Nations

01:02 Exploring the Concept of Self-Interest

01:49 Debating Benevolence vs Self-Interest

03:01 Understanding the Role of Market in Coordinating Values

07:44 Interpreting Adam Smith's Quote in Different Contexts

10:03 Relating Adam Smith's Quote to Kafka's The Hunger Artist

20:16 Reflecting on the Role of Artists in Society

26:47 The Hunger Artist: A Discussion on Value and Society

27:37 The Social Circles of Communism, Socialism, and Libertarianism

28:29 The Evolution of Exchange and the Impact of Atomization

29:05 The Calculus of Work: Enjoyment vs. Compensation