Galbraith Sr mentions that the state at the time was run by George III. That would be enough for me to think that total chaos might be better than a system run by him.
>"Some see the Invisible >Hand quote as applying to only international trade issues (the >specific topic) while others generalize it." > >Yes, Jim, I remember Rothschild making exactly that point, but I am >not quite following it. Thank you for making this point. > >Smith makes reference to the invisible hand in the course of a >critique of mercantilism? > >But then why would not that argument for freer trade apply more >generally? Or why would it have special force in the critique > >of mercantilism in particular? > >I do remember her suggesting that some of Smith's skepticism of state >intervention resulted from his suspicion that the state would most >likely intervene on the > >behalf of business monopolies! > >So is the point that freer trade can bolster the wealth of nations to >the extent that it undermines state control of the economy in the >service of established monopolies? > >OK I'll have to reread Rothschild. > > >LR > > _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
