[PsyOp]

Talk to the hand!

[PsyOp]

Another day, another post.

P.S. Does anyone know the code for making an indent after a break, or for inserting an extra space between characters? Please let me know.

[weikel]

Bump for good economics.

[Thane_Banquo]

?No external force, no coercion, no violation of freedom is necessary to produce cooperation among individuals all of whom can benefit. That is why, as Adam Smith put it, an individual who ?intends only his own gain? is led by an invisible hand to promote an end which was no part of his intention.? - Milton and Rose Friedman

Bump for Milton Friedman, greatest economist of the 20th century.

[rbmillerjr]

You da man Psyops........put me on your Ping list

[AmericaUnited]

Wherever there is great property there is great inequality. For one very rich man there must be at least five-hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions. - Adam Smith, The Wealth of Nations, 1776.

This sounds like socialist/communist crap! In a small "c" capitolist system, every wins! All boats get lifted, just some more than others.

[mykej]

Here are a few more snippets from Smith you may like:

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"Those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments."

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"Our merchants and master manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad. They say nothing concerning the bad effects of high profits."

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"Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all."

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" Such regulations [banking regulations] may, no doubt, be considered as in some respect a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments; of the most free, as well as of the most despotical. The obligation of building party walls, in order to prevent the communcation of fire, is a violation of natural liberty, exactly of the same kind with the regulations of the banking trade which are here proposed."

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"Whenever the legislature attempts to regulate the differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters."

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"The capricious ambition of kings and ministers has not, during the present and the preceding century, been more fatal to the repose of Europe, than the impertinent jealousy of merchants and manufacturers. The violence and injustice of the rulers of mankind is an ancient evil, for which, I am afraid, the nature of human affairs can scarce admit of a remedy. But the mean rapacity, the monopolizing spirit of merchants and manufacturers, who neither are, nor ought to be, the rulers of mankind, though it cannot perhaps be corrected, may very easily be prevented from disturbing the tranquillity of any body but themselves."

[Starrgaizr]

The Laws of Supply and Demand

Most people do not understand

It isn't a myth!

I wrote it! said Smith

I used my invisible hand!

--Ronald Coase (Nobel '91)

[serinde]

More great quotes! Thanks.

[boris]

Oh, thank goodness. I thought for a minute it was the ghost of Senor Wences...

[JZoback]

Bookmarked

Thanks

[P.O.E.]

BTTT

These quotes will come in handy :)

[Dr.Deth]

Bookmark