There is no art which one government sooner learns of another than that of draining money from the pockets of the people. - Adam Smith
While food that exceeded its sell-by date is still good for a short time, most of it is unfortunately thrown away. So Adam Smith, a chef from Leeds, opened a cafe that dishes out deliciously healthy yet 'expired' meals. Called P.A.Y.F ('Pay As You Feel')
Alex Garland Protesters outside the Northwest Detention Center. In an interview yesterday with The Stranger, Representative Adam Smith (D-9) said conditions at the Northwest Detention Center in Tacoma—where hundreds of jailed immigrants...Show More Summary
Few things are more for the global economy than world trade. Ever since Adam Smith laid out the economics of comparative advantage in his magnum opus, The Wealth of Nations, countries have understood the importance of specialization and trade. Show More Summary
(March 12, 2014 03:29 PM, by David Henderson) It is a mistake to say that Adam Smith unambiguously favored retaliatory tariffs. Russ Roberts called my attention to a mistake in my bio of Adam Smith in The Concise Encyclopedia of Economics. I had bought the conventional wisdom on... (0 COMMENTS)
Chris Edwards One of my favorite Adam Smith passages is: The man of system … seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. Show More Summary
It's been a big travel month, speaking in Phoenix at GreenBiz--where oxymoronic ideas like "Sustainable Beef" took the stage; in Evanston, IL to drill down on who's really in charge here? --a provocative exchange of views at the Kellogg...Show More Summary
In a review of Andrew Cayton's Love in the Time of Revolution: Transatlantic Literary Radicalism and Historical Change, 1793-1818 ("Emotions in the Balance," TLS, 1/17/14), Rachel Hewitt quotes from Adam Smith's The Theory of Moral Sentiments...Show More Summary
Economists Maxim Pinkovskiy of he Federal Reserve Bank of New York and Xavier Sala-i-Martin of Columbia University have written a paper on a new way to assess the state of global poverty. Over at the Adam Smith Institute’s blog Tim Worstall...Show More Summary
By Dividends & Income Daily: You likely associate the year 1776 with the birth of our nation. Yet it's also the year that Adam Smith, who is considered by many to be the father of modern economics, published An Inquiry into the Nature and Causes of the Wealth of Nations. Show More Summary
When Adam Smith and a group of Scottish colleagues began using "liberal" in a political sense, it referred to free markets in labor and goods—a far cry from the way it's often used today.
When Adam Smith and friends began using the term in a political sense, they were referring to free markets in labor and goods—a far cry from the way it's often used today.
Principles Principles Introduction Daily Reading Moral Philosophy Markets and Hierarchies Essential Principles Commercial for Adam Smith Economics Some Intellectual History Advantages of Markets Scarcity and Choice [SupplyShow More Summary
Jean-Baptiste Say, an 18th-century economist and follower of Adam Smith, recognized one of the most fundamental laws in all economics: the entirely common-sense observation that consumption requires production. This axiom is called Say's Law of Markets. However, this axiom is...
Dugald Stewart: Account of the Life and Writings of Adam Smith: >Adam Smith, author of the Inquiry into the Nature and Causes of the Wealth of Nations, was the son of Adam Smith, comptroller of the customs at Kirkaldy, and of Margaret Douglas, daughter of Mr Douglas of Strathenry. Show More Summary
(January 26, 2014 09:09 PM, by David Henderson) The old doctrine that the slavery of the black, is essential to the freedom of the white race, can maintain itself only in the presence of slavery, where interest and prejudice are the controlling powers, but it stands condemned equally... (0 COMMENTS)
I like this as far as it goes, but why not make the point that there is a role for government in solving the market failures that lead to the lack of job insurance for vulnerable workers (and perhaps for...
Weekly Memo Question: Feb 19: Adam Smith confidently asserted that slavery was uneconomic--that in commercial society, manumission was the road to higher productivity because the carrot of working for yourself is much more efficient than the stick of being whipped by others. Show More Summary
We will miss the scribe and commentator Adam Smith, aka George J. W. Goodman, a modern-day wordsmith with far more Jewish wit and ironic wisdom than any other writer on finance today. No offense to Michael Lewis. “This a modern classic,” Paul Samuelson, the first American Nobel Prize Winner in, wrote across the jacket [...]