The Betrayal of Adam Smith


	The Betrayal of Adam Smith

Kauaiguy

1-26-2008 6:13 PM

98 views

tags:

economy, politics, markets, corruption

Kauaiguy says:

A good expose on how corporate libertarians are at odds with their supposed hero.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c205894f-1571-4403-ab58-a691b86303c5/CF3CAE2C-B7C2-4F9D-9A9F-EB3479ACC55F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.pcdf.org/corprule/betrayal.htm" href="http://www.pcdf.org/corprule/betrayal.htm" style="font-size: 11px;">www.pcdf.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.pcdf.org/corprule/betrayal.htm"><P align="justify"><FONT face="Arial, Helvetica"><FONT size="3">Smith strongly disliked both governments and
corporations. He viewed government primarily as an instrument for extracting
taxes to subsidize elites and intervening in the market to protect corporate
monopolies. In his words, "Civil government, so far as it is instituted for
the security of property, is in reality instituted for the defense of the rich
against the poor, or of those who have some property against those who have none
at all.<SUP>'' </SUP>Smith never suggested that government should not intervene
to set and enforce minimum social, health, worker safety, and environmental
standards in the common interest or to protect the poor and nature from the
rich. Given that most governments of his day were monarchies, the possibility
probably never occurred to him.</FONT></FONT></P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CF3CAE2C-B7C2-4F9D-9A9F-EB3479ACC55F/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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