WHO WAS ADAM SMITH?

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.''

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.

http://www.pcdf.org/corprule/betrayal.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

OK Economics was designed and it is maintained by Oldrich Kyn.
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