Tag: Adam Smith

From The Wealth of Nations: The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and…

Conservatives don’t know much about history.  We’ve seen hilarity ensue when Sarah Palin or Michele Bachmann attempt to tell stories about the history of America.  But what’s more subtle is that they don’t know about the process of knowledge in the context of history.  That’s hardly surprising to a political…

Adam Smith is usually claimed by conservatives since his economic principles, detailed in his masterpiece The Wealth of Nations underpin the ideas of modern “free market” fetishists.  Never mind that what Smith said has been perverted, twisted and distorted out of all recognizability by libertarian economists… I digress. What many…