Andylusion
Platinum Member
Adam Smith did say what you quoted, but he was talking about a mercantile system, that he opposed. Not capitalism which he promoted. If you had actually read the book, you would know that.
Are you really going to argue that we live under the capitalist system Adam Smith promoted? Because, if not, then you cannot argue for the goodness of our current system by arguing for the goodness of Adam Smith's vision of capitalism.
Further, do you really think Adam Smith left no room for the government to take on the cause of the poor?
Try reading Book 5.
No system is absolutely pure to any vision. That's just the reality of human nature.
Yes, Adam Smith most certainly did support some amount of intervention by government, and he was wrong.
There is no sage of divine wisdom. Adam Smith was a man. He was a smart man, but a man nonetheless. As with any human wisdom, you glean what you can that's good, and reject what you find is bad.
Adam Smith is no different. There are some aspects, that are absolutely true, and should be considered. Others... not so much.
I'm also an avid fan of Milton Friedman. Yet there are aspects I disagree with that he said.
Like I said. There is no sage of divine wisdom. Friedman was correct on many things, and wrong on others.
Pointing out the stuff Adam Smith was wrong about, doesn't disprove all the things he was right about. Nor does pointing out what he was right about, prove correct all the things he was wrong about.