WHO WAS ADAM SMITH?

From
The Drug War as a
 Socialist Enterprise

by

Milton Friedman

 

 You all know Adam Smith's famous invisible hand, in which people who intend to promote their own interest are led by an invisible hand to promote a public interest which it was no part of their intention to promote. I have for many years argued that an inversion of that maxim is also true: People who intend only to pursue the public interest are led by an invisible hand to promote private interests which it was no part of their intention to pursue. That is the case regarding drugs.

http://www.druglibrary.org/special/friedman/socialist.htm

Milton Friedman, Free Markets Theorist, Dies at 94

By HOLCOMB B. NOBLE

In Professor Friedmanís view, government had the ... obligation: to keep its hands off the economy, to let the free market do its work. He was a spiritual heir to Adam Smith, the 18th-century founder of the science of economics and proponent of laissez-faire: that government governs best which governs least.

http://www.nytimes.com/2006/11/16/business/17friedmancnd.html
ex=1321333200&en=c6bb7a3df4adbd5a&ei=5088

 

 

 

 

 

 

 

 

 

 

 

 

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