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Adam Smith, the father of economics and Capitalism warned that a true laissez-faire economy would quickly become a conspiracy of businesses and industry against consumers, with the former scheming to influence politics and legislation. Smith states that the interest of manufacturers and merchants "...in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public...The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention.
If Adam Smith were alive today undoubtably, he would be called a socialist or communist by rwnjs.
As Sam Barrow said, Adam Smith's concern was crony capitalism and things like price fixing. IOW the same kinds of things Sarah Palin has often warned about and decried. If Adam Smith were alive today undoubtedly he would be called a dumb, unqualified bimbo by lwnjs. If he had had a daughter they would be posting about her sexual proclivities.
Adam Smith, the father of economics and Capitalism warned that a true laissez-faire economy would quickly become a conspiracy of businesses and industry against consumers, with the former scheming to influence politics and legislation. Smith states that the interest of manufacturers and merchants "...in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public...The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention.
As Sam Barrow said, Adam Smith's concern was crony capitalism and things like price fixing. IOW the same kinds of things Sarah Palin has often warned about and decried. If Adam Smith were alive today undoubtedly he would be called a dumb, unqualified bimbo by lwnjs. If he had had a daughter they would be posting about her sexual proclivities.
Your authority is Sam Barrow and Sarah Palin. hmmm. it was not just about crony capitalism and price fixing. It was also about a hands off approach by govt. would be a bad thing. Govt. intervention is good when it is for the publics good, and govt. intervention is bad when it is because of crony capitalism. There made it more simple.
As Sam Barrow said, Adam Smith's concern was crony capitalism and things like price fixing. IOW the same kinds of things Sarah Palin has often warned about and decried. If Adam Smith were alive today undoubtedly he would be called a dumb, unqualified bimbo by lwnjs. If he had had a daughter they would be posting about her sexual proclivities.
Sarah Palin who greedily sucked off the teat of big oil and increased Alaska's tax revenue by $6 billion through increased taxes on that industry? That Sarah Palin?
Your authority is Sam Barrow and Sarah Palin. hmmm. it was not just about crony capitalism and price fixing. It was also about a hands off approach by govt. would be a bad thing. Govt. intervention is good when it is for the publics good, and govt. intervention is bad when it is because of crony capitalism. There made it more simple.
What is the public good; Green Energy & Jamie Dimon's bank account?
Quote:
Originally Posted by hotair2
Govt. intervention is good when it is for the publics good, and govt. intervention is bad when it is because of crony capitalism. There made it more simple.
Oh most definitely! He also believed in progressive taxation. What a stalinist
Absolutely, the father of capitalism would be called a communist by rwnjs today. For example, his statement. "The rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
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