The Financial Times is running a big feature on the Future of Capitalism <http://www.ft.com/indepth/capitalism-future>
One of the best features is on Adam Smith because the author has actually read Adam Smith. Amartya Sen is a serious thinker in his own right and understands that Smith opposed protectionism, not regulation in general. <http://www.ft.com/cms/s/0/8f2829fa-0daf-11de-8ea3-0000779fd2ac,dwp_uuid=ae1104cc-f82e-11dd-aae8-000077b07658.html > "Smith never used the term capitalism (at least, so far as I have been able to trace), and it would also be hard to carve out from his works any theory of the sufficiency of the market economy, or of the need to accept the dominance of capital." and "Smith explained why this kind of trust does not always exist. Even though the champions of the baker-brewer-butcher reading of Smith enshrined in many economics books may be at a loss to understand the present crisis (people still have very good reason to seek more trade, only less opportunity), the far-reaching consequences of mistrust and lack of confidence in others, which have contributed to generating this crisis and are making a recovery so very difficult, would not have puzzled him." -- And those who were seen dancing were thought to be insane by those who could not hear the music. -Friedrich Wilhelm Nietzsche, philosopher (1844-1900) _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
