Monday, October 25, 2010

Adam Smith: Pro-Tax

"The rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

Adam Gopnik's recent article in The New Yorker demonstrates that Smith, the father of capitalism, was far more concerned with the ability of producers to band together and promote unfair prices for consumers than he was about government interference in the market.  Indeed, he welcomed government interference insofar as it necessary to promote competition and protect consumers from wealthy businesses.

The interest of manufacturers and merchants "in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public.  To widen the market and to narrow the competition, is always the interest of the dealers... and can serve only to enable the dealers, by raising their profits, above what they naturally would be, to levy, or their own benefit, an absurd tax upon the rest of their fellow-citizens."


oakleyses said...

pandora charms, moncler, canada goose, louis vuitton, converse outlet, barbour jackets, supra shoes, pandora jewelry, swarovski, ugg,ugg australia,ugg italia, barbour, louis vuitton, juicy couture outlet, wedding dresses, lancel, canada goose, pandora jewelry, moncler, moncler outlet, montre pas cher, doke gabbana outlet, pandora charms, swarovski crystal, bottes ugg, canada goose outlet, coach outlet, thomas sabo, replica watches, doudoune canada goose, moncler, sac louis vuitton pas cher, ugg,uggs,uggs canada, louis vuitton, ugg boots uk, canada goose, canada goose uk, toms shoes, ugg pas cher, moncler, canada goose outlet, louis vuitton, links of london, moncler, canada goose, moncler, moncler, marc jacobs, hollister, karen millen, juicy couture outlet
ninest123 16.02

Unknown said...

replica watches
chiefs jersey
michael kors handbags
longchamp outlet
jordan 8
mbt shoes
ralph lauren polo
coach outlet online
new york jets jerseys
gucci outlet

Unknown said...

louis vuitton
fred perry polo
los angeles lakers
air max uk
ralph lauren polo
nike outlet store online
coach outlet store online
mulberry handbags
cheap nhl jerseys
pandora jewelry

chenmeinv0 said...

michael kors outlet
true religion runway
nike huarache ultra
michael kors handbags
christian louboutin sale
polo ralph lauren
polo ralph lauren outlet
christian louboutin heels
under armour outlet
ralph lauren outlet

Unknown said...

air max
fitflops sale clearance
sac longchamp
coach factory outlet online
texans jerseys
pandora charms
michael kors bags
adidas yeezy boost
ray ban sale

adidas nmd said...

ugg boots
nike huarache
seattle seahawks jerseys
baltimore ravens jerseys
rolex replica
nike tn pas cher
toms shoes
armani exchange
michael kors handbags sale
coach outlet online

Unknown said...

mlb jerseys
cheap oakley sunglasses
michael kors outlet clearance
ray ban sunglasses
oakley sunglasses wholesale
nike air max
coach factory outlet
louis vuitton handbags
ralph lauren polo
michael kors outlet online

Unknown said...

oakley sunglasses
christian louboutin outlet
coach outlet
polo ralph lauren outlet
birkenstock sandals
louis vuitton outlet
oakley sunglasses
michael kors bags
ed hardy clothing
coach outlet

艾丰 said...

new balance shoes
longchamp handbags
longchamp outlet
true religion jeans
reebok trainers
pandora jewelry
polo shirts
burberry outlet
nike roshe run
fred perry polo shirts