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by graemep 832 days ago
Adam Smith himself never claimed it was that simple. He also wrote on ethics (and regarded that book as more important IIRC). He also warned that those is the same trade would inevitably conspire against the public.
2 comments

Or as John Adams said, "Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other."

I think interpreting this in a modern context, "religious" can be translated as "ethical"

That is weird, people taking a body of work out of context to advance their agenda.
That’s basically all advocates of Adam Smith. I doubt that most of them have even read it — they’d be shocked by what he actually wrote.
His detractors do the same.
Quite likely, unfortunately. Having read both The Theory of Moral Sentiments and The Wealth of Nations I think he's insightful and had his head screwed on properly...and disagree with at least 90% of his fans.