Adam Smith's Lost Legacy (Free subscription) | yesterday
David Smith writes in Economics UK.com HERE : and adds a most interesting postscript to an article: “ Don’t expect too much blood from Darling’s Axe” “Sometimes I feel obliged to defend the family name. On the Today programme, my former colleague John Cassidy, interviewed about his book How Markets Fail (Penguin, £25), blamed the free-market economics of Adam Smith,...
Tim Worstall (Free subscription) | 16 hours ago
Please, go read your Adam Smith again. Since free trade replaced mercantilism, liberals have recognised that capitalism can do good even if that is not its first objective. The benign force Adam Smith called the “invisible hand” was instrumental in the creation of modern journalism. As Gavin Kennedy indefatigably continues to point out, the one reference to [...]
Blawg Review (Free subscription) | 15 hours ago
When the ABA Journal selected the inaugural Blawg 100 , they faced a challenge. There were then between 2,000 and 3,000 legal blogs, or blawgs. Mistakes were made. Among the top 100, the ABA Journal included Blawg Review -- a participatory law blog “carnival” that takes submissions and compiles a weekly list of the best ones. While we appreciated the recognition, those involved with this...
Buyer Behaviour (Free subscription) | 16 hours ago
'Without the West’s ‘irresponsible’ consumption habits, developing countries would be a lot worse off. Without the soulless global corporations sucking at the pool of cheap labour, many ‘exploited’ workers would have no job at all. Workers wages help them to feed and clothe their family, and boost the income of those around them. Also, those in developing countries acquire...
Causa Liberal (Free subscription) | 16 hours ago
Murray N. Rothbard[This article is excerpted from An Austrian Perspective on the History of Economic Thought, vol. 1, Economic Thought Before Adam Smith.]The causes of the great depression of western Europe can be summed up in one stark phrase: the newly imposed domination of the State. During the medieval synthesis of the High Middle Ages there was a balance between the power of Church and State
Culture Industry (Free subscription) | yesterday
One of those days. Massive grading all day, broken only by a little undirected reading. A FB comment by Ben Friedlander sent me to my Library of America stacks to haul down Poe's Poetry and Tales & re-read the Dupin stories. "Murders in the Rue Morgue" just as good as when I read it at 14 or 15; "The Mystery of Marie Rogêt" just as I recalled it – a total snooze....
homegame (Free subscription) | yesterday
The more hypocritical sports commentators have explained their prurient interest in Tiger Woods' automobile accident by saying they wonder how all the sordid speculation surrounding his violent encounter with a fire hydrant will affect Woods' business empire. That is, will it cost Woods endorsement money if it turns out he was fooling around and his wife tried to smack him one? Journalistically speaking,...
Sterling Performance (Free subscription) | yesterday
Modern management has been a child of the Enlightenment. Blame it on the apple which fell on Isaac Newton’s head. That led to him formulating the laws of physics which seemed to unwrap the mysteries of the world. Suddenly, the hunt was on for the laws of everything. Charles Darwin did it for biology. Adam Smith [...]
The Guardian (Free subscription) | yesterday
Johnston Press is starting to charge for certain online content. It's time to admit that giving away value undermines democracy Since free trade replaced mercantilism, liberals have recognised that capitalism can do good even if that is not its first objective. The benign force Adam Smith called the "invisible hand" was instrumental in the creation of modern journalism. After stamp duty...
EconLog (Free subscription) | 11/30/2009
Lately my colleague Dan Klein has presented new evidence that the "invisible hand" was more central to Adam Smith's thought that most scholars now believe. Perhaps that's why this passage from Will and Ariel Durant jumped out at me. It's a discussion of the ultramontanist philosopher de Maistre: "War is divine, since it is a law of the world" - permitted by God through all history....
Adam Smith's Lost Legacy (Free subscription) | 11/29/2009
Packing my library of Adam Smith books today I came across a number of “treasures” related to my interrupted preparations for a new paper on the “invisible hand” controversy, of which my response to Daniel Klein’s most interesting discovery (great detective work! of an apparent intentional location of Smith’s use of the metaphor in both Moral Sentiments and Wealth...
Martin Kelly (Free subscription) | 11/29/2009
Will Hutton has written a very nice wee piece on the necessity of Cadburys remaining in British hands . Glad to see someone agrees with me . As is only to be expected, some of the more predictably Pavlovian type of freemarketoids are having a go at him in the Comments. No group of potential slaves ever embraced slavery so warmly as economic liberals. One would weep, if one were not laughing. The way...
Laglagan (Free subscription) | 11/29/2009
"'Children's development is the wealth of nations.' The expression, borrowed from Adam Smith, has a strange resonance when children's development is ever less a priority for our rulers whose policies call into question the fundamentals of solidarity that have enabled our collective wealth, our development in the broader sense, understood as the evolution of psycho-motor behaviors, language, intelligence,...
EFFin' Unsound (Free subscription) | 11/29/2009
post by Carl Thurston Pundits says fuck the rule of law. Thanks Brian Baird and Adam Smith for your great representation of districts full of military families. The rest of the post doesn’t mention Baird or Smith. Divining, I’d say they are awful because they are Democrats so no need to go beyond that. I liked it better when [...]
Adam Smith's Lost Legacy (Free subscription) | 11/28/2009
Mark Perry , professor of economics and finance at University of Michigan (Flint) writes a seasonal piece for (US) “Thanksgiving” ( HERE ): quoting an example from in Boston Globe in 2003. “ Giving Thanks for Capitalism, The Invisible Hand, the Miracle of the Free Market and No Turkey Czars ” “ Like in previous years, you probably didn't call your local supermarket ahead...
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abonty123 | 08/26/2009
English Carling Cup [Round 2] Time:19:45 UK Stadium :Keepmoat Doncaster Rovers vs Tottenham Hotspur Tottenham Hotspur playmaker Luka Modric claims he has not entertained the prospect of joining Manchester United despite reports linking him with a move to the Premier League champions Date Player In Team Fee Aug 6 Sebastien Bassong Newcastle United Undisclosed Story Date Player Out Team Fee Aug 19 Yuri
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obi jo | 07/08/2009
http://realhealthreform.wordpress.com/2009/07/09/senate-mulls-taxing-alcohol-sugary-drinks-to-pay-for-healthcare/ “Sugar, rum and tobacco are commodities which are nowhere necessaries of life, which are become objects of almost universal consumption, and which are therefore extremely proper subjects of taxation.” — Adam Smith, The Wealth of Nations , 1776 Well, we can assume that since the father of
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