Tagged: Adam Smith

Stranger than kindness

By the time Prince George becomes King of England, he’ll be a grandfather.

When the The Wealth of Nations was published, capitalism as described by Adam Smith didn’t even exist. The Wealth of Nations was a speculative text, like much of modern macroeconomic theory. Really existing capitalism exhibits neither the “universal opulence” envisioned by the radical Mr Smith nor Pareto optimality.

In the Nevada “range war,” Cliven Bundy has played the George Armstrong Custer (or David Koresh) role. The renegade cattlemen (read tax cheats) are flashing automatic weapons as if they were Black Panthers.

I wonder if Senator Rand Paul offered to serve as a human shield for Mr Bundy.

The Bundy Ranch is a distraction from Benghazi.