What Republicans get wrong about capitalism - Great Recession | Economic Recession, Economic Crisis - Salon.com: "Smith would be highly skeptical of such claims. In the final edition of the 'Theory of Moral Sentiments,' written over a decade after 'The Wealth of Nations,' he added a chapter in which he describes the 'disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition.' This disposition, Smith says, colors the way we view the world, leading us to conflate wealth and greatness with virtue and poverty and weakness with vice.
It also leads to confusion in thought. Who makes capitalism work? is a very different question from For whom has capitalism worked best? We should guard against presuming the answers are necessarily one and the same.
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Monday, August 8, 2011
What Republicans get wrong about capitalism - Great Recession | Economic Recession, Economic Crisis - Salon.com
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