Monday, April 4, 2016

Adam Smith, anti-capitalist

Here's an interesting article called "Was Adam Smith anti-capitalist?" It explores several historians that dispute how Smith has been used to support the type of corporate global capitalism being espoused today. Recall that Chomsky calls is state capitalism and that it has no relation to Smith's ideological capitalism. For example:

"One study summarizing the findings of those who have read The Wealth of Nations concludes that Adam was actually opposed to official Smithian dogma in at least seven ways:
1. Adam was pro-labor and had a negative view of labor-masters
2. Adam distrusted and denounced the capitalist class
3. Adam argued against special corporate privilege and called for the dissolution of corporations
4. Adam argued for investment at the local or domestic level and decried globalization
5. Adam advocated taxing the rich to give to the poor
6. Adam observed that state power could be used to protect human rights
7. Adam looked to government-supported education to mitigate the effects of the division of labor

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