"No regulation of commerce can increase the quantity of industry in any society beyond what its capital can maintain. It can only divert a part of it into a direction into which it might not otherwise have gone; and it is by no means certain that this artificial direction is likely to be more advantageous to the society than that into which it would have gone of its own accord."And yet, we just keep trying...
Political, philosophical, and theological reflections from a Christian idealist with libertarian leanings and a professional interest in science and mathematics.
Friday, July 9, 2010
Wisdom for Our Time
From Adam Smith's Wealth of Nations, Book IV, Chapter II:
Labels:
Adam Smith,
economics
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