What Would Adam Smith Say Now?

Kaufman, Henry
October 2001
Business Economics;Oct2001, Vol. 36 Issue 4, p7
Academic Journal
The breadth and depth of Adam Smith thought over 200 years ago still provide powerful lessons today. Were he present, he would applaud much of what has transpired in the organization of economic life, particularly in the U.S. economy and its thrust toward individual achievement and relatively free markets for goods and services, capital, and labor. However, he would also be deeply troubled by recent trends toward consolidation, particularly in the financial sector, and the emergence of "too-big-to-fail" as an argument for government to weaken the discipline of markets.


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