Re: 20160413 Variations on a theme of Adam Smith
Posted: Mon Jan 16, 2017 3:34 am
2017/01/15 Knowledge Forum
Thread: Adam Smith “The Wealth of Nations”
Book 4 Chapter 5 “Bounties”
The full title of this section is:
Begin Quotation:
Digression on the Corn Trade
End Quotation.
Part 2 of this chapter on bounties paid upon export of certain commodities dives deeply into the history and current practice of various government policies regulating trade in corn, both within nations and between nations, with emphasis on Great Britain.
While I did not find this sentiment in this section, I was reminded of Smith's prior assertion that corn sets the value of money, and not the other way around.
There are several assertions by Mr. Smith that are worthy of recording for posterity in the present thread, here are two that I particularly like:
Begin Quotation: (Page 569)
But the law ought always to trust people with the care of their own interest,as in their local situations they must generally be able to judge better of it than the legislator can do.
End Quotation.
Begin Quotation: (Page 581)
The laws concerning corn may every where be compared to the laws concerning religion.
End Quotation.
My overall impression of this chapter is that Smith disapproves of almost all impediments to free trade. He does make an exception for protection of activities which relate to national defense, and the same reservation can be observed in the policies of the United States in 2017.
Where I hope to end up over the course of these weekly ruminations is with a conclusion that the economy of the planet Earth of 2016 can support a class of distant communities with digital communications reflecting the greater variety of capability of the larger population, while at the same time providing a large and ready market for digital communications from the smaller populations, who may yet offer insights or achievements not occurring elsewhere.
(th)
Thread: Adam Smith “The Wealth of Nations”
Book 4 Chapter 5 “Bounties”
The full title of this section is:
Begin Quotation:
Digression on the Corn Trade
End Quotation.
Part 2 of this chapter on bounties paid upon export of certain commodities dives deeply into the history and current practice of various government policies regulating trade in corn, both within nations and between nations, with emphasis on Great Britain.
While I did not find this sentiment in this section, I was reminded of Smith's prior assertion that corn sets the value of money, and not the other way around.
There are several assertions by Mr. Smith that are worthy of recording for posterity in the present thread, here are two that I particularly like:
Begin Quotation: (Page 569)
But the law ought always to trust people with the care of their own interest,as in their local situations they must generally be able to judge better of it than the legislator can do.
End Quotation.
Begin Quotation: (Page 581)
The laws concerning corn may every where be compared to the laws concerning religion.
End Quotation.
My overall impression of this chapter is that Smith disapproves of almost all impediments to free trade. He does make an exception for protection of activities which relate to national defense, and the same reservation can be observed in the policies of the United States in 2017.
Where I hope to end up over the course of these weekly ruminations is with a conclusion that the economy of the planet Earth of 2016 can support a class of distant communities with digital communications reflecting the greater variety of capability of the larger population, while at the same time providing a large and ready market for digital communications from the smaller populations, who may yet offer insights or achievements not occurring elsewhere.
(th)