Posts Tagged “Adam Smith”
Self-deceit, this fatal weakness of mankind, is the source of half the disorders of human life. If we saw ourselves in the light in which others see us . . . a reformation would generally be unavoidable. We cannot otherwise endure the sight. Adam Smith The Theory of Moral Sentiments, quoted in The Wisdom of [...]
I make books. I don’t make shoes. But if it would help me make better books, then maybe I should learn what goes into making a pair of shoes. The division of labor allows specialists to focus on their strengths in the marketplace. The idea is as good and useful today as it was when [...]
Despite their obvious differences, Das Kapital and The Wealth of Nations share at least one similarity: Nobody reads them. In the case of Karl Marx, this is no tragedy. Thanks to the colorful antics of history (many of them sticky and sanguinary), anyone can see that the bewhiskered dreamer was full of crap. Not so with [...]