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To: Racehorse; CSM; 1rudeboy

Book Four, Chapter Two.

Not a surprise that PJB got it right, by the way...

Homework assignment, Rudeboy--you're still in grad school, right? OK. Disprove Smith. (Or Samuelson...)


161 posted on 04/18/2005 12:16:32 PM PDT by ninenot (Minister of Membership, TomasTorquemadaGentlemen'sClub)
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To: ninenot
Milton Friedman does a good job here.
257 posted on 04/19/2005 5:04:43 AM PDT by 1rudeboy
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To: ninenot; Racehorse; CSM; Toddsterpatriot
Book Four, Chapter Two.
Not a surprise that PJB got it right, by the way...
Homework assignment, Rudeboy--you're still in grad school, right? OK. Disprove Smith.

"Disprove" Smith? I embrace him, especially the following from Book Four, Chapter Two (say, isn't that what you claim to have read?):

It is the maxim of every prudent master of a family never to attempt to make at home what it will cost him more to make than to buy. . . .
What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage.

274 posted on 04/19/2005 9:01:00 AM PDT by 1rudeboy
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