Friday, December 02, 2011

Comment on "job creators"

I posted the following as a comment to the Coffee Party's Facebook posting of "7 Ways to Support the Real Job Creators".
I highly recommend slogging through the 1000+ pages of 18th Century English that are Adam Smith's "Wealth of Nations".

Would you believe that he is more sympathetic to the workmen than the masters? That he thinks banks should be regulated? That taxes are necessary? That we have to co-operate with and assist one another? That talents come from our experiences? That he doesn't believe in giving 110% to employers? That the rich get rich at the expense of the poor? That governments are needed to enforce contract law? That merchants complain that high wages affect the economy but say nothing of how high profits affect the economy? That honorable professions are underpaid? That regulations are needed to prevent abuse? That he doesn't think much of corporations controlling government? That corporations are not concerned with the public interest? That although he complained it was illegal for workers to unite to raise wages but legal for masters to unite to keep wages down, he didn't think much of labor unions? But that regulations in favor of workers were just but those in favor of the masters were unjust?

Those are only some of the comments with which I annotated the first 150 pages of my Project Gutenberg copy of "Wealth of Nations".