Tag: Adam Smith
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Confirmed: Industry Self-regulation is a Myth
In October of 2008, the chairman of the Federal Reserve, Alan Greenspan, admitted to Congress and the viewing public that free markets cannot regulate themselves. This is imporanat because I think it may have been missed by the great majority. Here we have an admission by one of the highest ranking members of our society…
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Conservative Laura Ingraham on the Importance of Adam Smith and the Federalist Papers
Hi, On August 8, 2018: Laura Ingraham spoke on her show denouncing Democrats, immigration, etc. etc. I wanted to bring your attention to the following line toward the end of her speech: This is exactly what socialists like Ocasio-Cortez want: eventually diluting and overwhelming your vote with the votes of others who aren’t, let’s face…
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The Economic Theory Based Entirely on Sentimental Hope – Smith vs. Ricardo
Is it strange that classical English economists Adam Smith and David Ricardo based a lot of their economic theory on sentimental hope? That the capitalists of their time would make economic decisions based on their sense of patriotism? Adam Smith considered the possibility that the merchants and manufacturers in England might decide to do their…
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Adam Smith’s Division of Labor – “stupid and ignorant as it is possible for a human creature to become”
Hi, Karl Marx wrote the Communist Manifesto in 1848. I just finished a quick analysis of the document for anyone interested. I argue that Marx’s ideas were nothing new. If you wanted to know about the dangers of Capitalism, all you have to do is read from the father of Capitalism himself. Let’s take a…
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Will the Real Adam Smith Please Stand Up!
Excerpted from Class Warfare, 1995, pp. 31-36 DAVID BARSAMIAN: One of the heroes of the current right-wing revival… is Adam Smith. You’ve done some pretty impressive research on Smith that has excavated… a lot of information that’s not coming out. You’ve often quoted him describing the “vile maxim of the masters of mankind: all for…