Smith's Perversion

Wednesday March 2, 2005 - 1:41AM EDT

I recently read an article about how some economist was supportive of Adam Smith's treatise Wealth of Nation and what it expouses. Ok, so it was just one article and it could have been skewed. But regardless, I don't know why Smith's work is still seen as the basis by which economics is governed. First off, the scenarios he presents seem to be devoid of any reality and I don't think they ever took into account that resources of the planet would be strained at some point. I should research more before speaking at length. This article here particularly makes me cringe. As it is more evidence of the sinister drive by some to make everything into a business. The idea that business "competition" is the answer to everything. If it was pure competition on level playing fields with goals to be the best it may work. But "competition" never is pure in today's business world. No one strives to be the best, they just strive to make the most money.

billions of dollars will exchange hands as companies buy and sell the right to pollute

That small excerpt from the article was a great selection by the author.