Comments on: The Myth Versus the Reality of Adam Smith’s Political Economy http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/ The Pen Is Mightier Than Thy Wench Sun, 21 Mar 2010 02:30:35 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Epistemology « Thor's Web http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-88047 Epistemology « Thor's Web Thu, 21 Jan 2010 07:33:06 +0000 http://www.prosebeforehos.com/?p=4203#comment-88047 [...] The Myth Versus the Reality … [...] [...] The Myth Versus the Reality … [...]

]]> By: Anonymous http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87647 Anonymous Thu, 29 Oct 2009 22:28:47 +0000 http://www.prosebeforehos.com/?p=4203#comment-87647 The quote chosen is one of the better points made in the book, but it is taken completely out of context. Smith was discussing guilds, which were similar to the labor unions we have now. A blacksmith's guild would ensure that new blacksmiths had apprenticed under a master blacksmith (guild member) before going to work. They would also petition the government to obtain monopolies in certain geographic areas. If anything, in the above quote, Smith was arguing AGAINST government-created monopolies on certain professions, not in favor of government regulation. The quote chosen is one of the better points made in the book, but it is taken completely out of context. Smith was discussing guilds, which were similar to the labor unions we have now. A blacksmith’s guild would ensure that new blacksmiths had apprenticed under a master blacksmith (guild member) before going to work. They would also petition the government to obtain monopolies in certain geographic areas. If anything, in the above quote, Smith was arguing AGAINST government-created monopolies on certain professions, not in favor of government regulation.

]]> By: Anonymous http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87642 Anonymous Thu, 29 Oct 2009 21:01:52 +0000 http://www.prosebeforehos.com/?p=4203#comment-87642 but what happened? but what happened?

]]> By: alec http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87635 alec Thu, 29 Oct 2009 17:54:32 +0000 http://www.prosebeforehos.com/?p=4203#comment-87635 The comments are right here? The comments are right here?

]]> By: Bob http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87633 Bob Thu, 29 Oct 2009 17:49:28 +0000 http://www.prosebeforehos.com/?p=4203#comment-87633 Hello? Where have the comments all gone? Hello? Where have the comments all gone?

]]> By: Hugh http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87632 Hugh Thu, 29 Oct 2009 17:45:47 +0000 http://www.prosebeforehos.com/?p=4203#comment-87632 So Smith was against the government giving special favors to corporations. That makes him a "free market ideologue" by most definitions. So Smith was against the government giving special favors to corporations. That makes him a “free market ideologue” by most definitions.

]]> By: Bob http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87629 Bob Thu, 29 Oct 2009 17:03:28 +0000 http://www.prosebeforehos.com/?p=4203#comment-87629 Smith also believed that either globalization or free markets had a limited life span of around 200 years before the market went to hell. There are some essays on this online but I'm too rushed to go look for them. Smith also believed that either globalization or free markets had a limited life span of around 200 years before the market went to hell. There are some essays on this online but I’m too rushed to go look for them.

]]> By: Bob http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87627 Bob Thu, 29 Oct 2009 16:50:30 +0000 http://www.prosebeforehos.com/?p=4203#comment-87627 Missing word: The Wealth of Nations serves as an of his time reaction Missing word: The Wealth of Nations serves as an of his time reaction

]]> By: stryga http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87625 stryga Thu, 29 Oct 2009 16:14:20 +0000 http://www.prosebeforehos.com/?p=4203#comment-87625 It appears the author of this article has not spent much time with "Wealth of Nations." Smith's argument was the exact opposite of "heavy-handed government regulation;" he believed that only through a divestment of government and the market could a market serve the needs of the people. Smith recognized that when government is in a position to regulate an economy it is in a position to dispense economic favors. The very passage that the author quotes is a discussion on how government should neither hinder nor facilitate when it comes to the market. This is why people point to Smith as a champion of free-market economics. It appears the author of this article has not spent much time with “Wealth of Nations.” Smith’s argument was the exact opposite of “heavy-handed government regulation;” he believed that only through a divestment of government and the market could a market serve the needs of the people.

Smith recognized that when government is in a position to regulate an economy it is in a position to dispense economic favors. The very passage that the author quotes is a discussion on how government should neither hinder nor facilitate when it comes to the market. This is why people point to Smith as a champion of free-market economics.

]]> By: YeahRight http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-87624 YeahRight Thu, 29 Oct 2009 15:55:17 +0000 http://www.prosebeforehos.com/?p=4203#comment-87624 Did you read it? Do you understand the free market? Smith makes a lot of sense and he is completely for a free market. A free market doesn't mean no government regulation. It means the government and the corporations are separate. It means the government doesn't distort the market through things like subsidies. It also means that the government very strongly intervenes in protecting the rights of the individuals. The type of regulation is key here. Nice try, but this article is just silly. Did you read it? Do you understand the free market? Smith makes a lot of sense and he is completely for a free market. A free market doesn’t mean no government regulation. It means the government and the corporations are separate. It means the government doesn’t distort the market through things like subsidies. It also means that the government very strongly intervenes in protecting the rights of the individuals. The type of regulation is key here. Nice try, but this article is just silly.

]]> By: Noam Chomsky on Adam Smith and the Wealth of Nations | Prose Before Hos http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-86921 Noam Chomsky on Adam Smith and the Wealth of Nations | Prose Before Hos Fri, 17 Jul 2009 00:46:32 +0000 http://www.prosebeforehos.com/?p=4203#comment-86921 [...] Also: The Myth Versus the Reality of Adam Smith’s Political Economy, The Immorality of High Taxes, and Dead Ideas [...] [...] Also: The Myth Versus the Reality of Adam Smith’s Political Economy, The Immorality of High Taxes, and Dead Ideas [...]

]]> By: the nutshell paragraph » Blog Archive » Adam Smith and Karl Marx: Separated at birth? http://www.prosebeforehos.com/progressive-economics/07/13/the-myth-versus-the-reality-of-adam-smiths-political-economy/comment-page-1/#comment-86919 the nutshell paragraph » Blog Archive » Adam Smith and Karl Marx: Separated at birth? Thu, 16 Jul 2009 22:09:10 +0000 http://www.prosebeforehos.com/?p=4203#comment-86919 [...] And ProseBeforeHos offers this: [...] [...] And ProseBeforeHos offers this: [...]

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