RE: Smith's non-laissez faire doctrine

["Michael Lebowitz" <mlebowit@xxxxxx>]

In Message Thu, 27 Jan 94 11:44:13 PST,
  Jim Devine <JNDF%LMUACAD.BITNET@xxxxxxxxxxxxxxxxxx> writes:

>Can anyone think of any good, juicy, quotes from Adam Smith's WEALTH OF
>NATIONS  or THEORY OF MORAL SENTIMENTS, that clearly states his  non-
>belief in laissez-faire, at least in the crudest possible kinds of
>laissez-faire? or clearly states his criticism of the market system or
>capitalism?

Well, there're lots of juicy criticisms of capitalists (which is not the
same as criticisms of capitalism). Eg.,:

"The interest of the dealers,however, in any particular branch of trade or
manufactures, is always in some respects different from, and even opposite
to, that of the public.... The proposal of any new law or regulation of
commerce which comes 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. not only with the most scrupulous, but with the most
suspicious attention. 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, and who accordingly have, upon many
occasions, both deceived and oppressed it."  (Conclusion of Bk. I, Ch. 11
on Rent of Land in the Wealth of Nations)
    See also the end of Bk I, Ch. 9.
Mike Lebowitz, Economics Dept.,Simon Fraser University
              Burnaby,B.C., Canada V5A 1S6
    Office: (604) 291-3508 or 291-4669
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