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To: DWW1990
As an econ grad student, I have to read TWoN and remember it laying the ground work for a capitalistic system. Another equally important work is Charles Beard's An Economic Interpretation of the Constitution, which lays down what the economic responsibilities of gov't are based on the tenets stated in the Constitution. Essentially, the role of the gov't is twofold: 1) the policing of property rights (e.g., a legal system), and 2) provision of social overhead capital (e.g., those things society needs, but aren't provided in private markets, like national defense, public roads, etc.)

After reading his work, look at the idiotic programs that have been created by politicians to buy votes. Free cell phones for deadbeats? WTF.

6 posted on 11/20/2015 7:30:58 AM PST by econjack (I'm not bossy...I just know what you should be doing.)
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To: econjack

The Wealth of Nations is more of a philosophy, than a prescription. That is why it is not liked today. It requires thinking.

The thought of an uncontrollable “Invisible Hand” is an anathema to modern thinking. Heck, we can control the climate now.


8 posted on 11/20/2015 7:54:15 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: econjack

Thanks for that about Beard’s book. I’ll check it out.


10 posted on 11/20/2015 8:08:48 AM PST by DWW1990
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