For instance: Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from these rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.
Chapter I, Part III, p. 820 "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." -- Adam Smith "It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion." Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people." -- Adam Smith, The Wealth of Nations: An Inquiry into the Nature & Causes of the Wealth of Nations "For one very rich man, there must be at least five-hundred poor, and the affluence of the few supposes the indigence of the many" (V.ii.2). "The liberal reward of labour, therefore, as it is the necessary effect, so it is the natural symptom of increasing national wealth. The scanty maintenance of the labouring poor, on the other hand, is the natural symptom that things are at a stand, and their starving condition, that they are going fast backwards" (I.viii). And one of my favourites "When the regulation...is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters" (I.x.2). On Fri, Mar 7, 2014 at 9:14 AM, Larry C. Lyons <[email protected]> wrote: > Just the way its slavishly worshiped. Adam Smith would not recognize > capitalism as its practiced today. > > On Fri, Mar 7, 2014 at 9:13 AM, GMoney <[email protected]> wrote: >> >> You think the idea of a free market is a "wingnut" idea? >> >> >> >> >> On Fri, Mar 7, 2014 at 8:10 AM, Larry C. Lyons <[email protected]>wrote: >> >>> >>> this paragraph should cause a few wingnut heads to explode: >>> >>> "The idea of a regulated market being more conducive to competition >>> may be alien to free market ideologues, but telecoms and internet is a >>> real world example of deregulation leading to monopolization instead >>> of competition in lots of markets." >>> >>> On Thu, Mar 6, 2014 at 11:25 PM, Andrew Grosset <[email protected]> >>> wrote: >>> > >>> > Why is American internet so slow? >>> > >>> > http://theweek.com/article/index/257404/why-is-american-internet-so-slow >>> > >>> > >>> >>> >> >> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:369534 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
