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<DIV>It is difficult to find much purpose in blogs associated with news columns.
Nobody who read them all could ever find time to act on any high purpose to be
found there. Its mostly a way for the chattering classes to feel good about
hanging their two cents worth out in public. But, this one caught my eye, mostly
because of the insights into the often mis-used analysis of <FONT
color=#ff0000>Adam Smith</FONT>. Following the link is an abridged version of
the best parts.</DIV>
<DIV> </DIV>
<DIV>Siarlys</DIV>
<DIV> </DIV>
<DIV><A
href="http://community.nytimes.com/article/comments/2008/09/23/opinion/23brooks.html?permid=476#comment476">http://community.nytimes.com/article/comments/2008/09/23/opinion/23brooks.html?permid=476#comment476</A></DIV>
<DIV> </DIV>
<DIV><FONT color=#00ffff>Going into debt between meager paychecks while prices
keep going up. The people who brought you the ARM, Payday Loans, Car Title loans
and the Lottery, now present, let me think, the sharecropper economy. More
efficient and socially acceptable than slavery and all run for your benefit.
Just bring your cotton to the gin and we'll give you a good price and sell you
your own seeds because it was our DNA after all.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#00ffff>I suggest we all take a little time and read <FONT
color=#ff0000>Adam Smith</FONT> and what he had to say about the employer class
when left to set regulations for themselves:</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#ff0000>"The proposal of any new law or regulation of commerce
which come from this order, ought always to be listened to with great
precaution, and ought never to be adopted till after having been long and
carefully examined..." "It comes from an order of men, whose interest is never
exactly the same with that of the public, who have generally an interest to
deceive and even to oppress the public..." (250)</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#ff0000>And then the part about what happen when the rate of
profit is too high.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#ff0000>"...the rate of profit does not like rent and wages,
rise with prosperity, and fall with declension, of the society. On the contrary,
it is naturally low in rich, and high in poor countries, and it is always
highest in the countries which are going fastest to ruin." (249-50) The Wealth
of Nations 1776,Modern Library Edition, 1937)</FONT></DIV></BODY></HTML>
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