#adam-smith — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #adam-smith, aggregated by home.social.
-
Socialism's critics use the term as a catch‑all scare word, but modern socialists in the U.S. and EU mostly pursue redistribution and expanded welfare rather than the radical, utopianism found in some DSA proposals https://www.japantimes.co.jp/commentary/2026/09/07/world/american-socialism-surge/?utm_medium=Social&utm_source=mastodon #commentary #worldnews #dsa #democraticsocialistsofamerica #zohranmamdani #alexandriaocasiocortez #britishlabourparty #tonyblair #margaretthatcher #maga #adamsmith
-
Socialism's critics use the term as a catch‑all scare word, but modern socialists in the U.S. and EU mostly pursue redistribution and expanded welfare rather than the radical utopianism found in some DSA proposals https://www.japantimes.co.jp/commentary/2026/09/04/world/american-socialism-surge/?utm_medium=Social&utm_source=mastodon #commentary #worldnews #dsa #harrytruman #zohranmamdani #alexandriaocasiocortez #labour #tonyblair #margaretthatcher #adamsmith
-
Hans Stegeman has published a short essay on Smith, and how – unmoored from their moral foundations as outlined in "Theory of moral sentiments" – markets turn from coordinating value creation to peddling value extraction. In capitalism growth is an imperative: "When real productive growth is insufficient – [...] the machine turns to the next best thing: commodification of nature, rising debt, financial engineering, deregulation."
https://hansstegeman.substack.com/p/when-price-becomes-belief-markets
#economics
#bubbles
#AdamSmith1/2
-
Paul Atkins Misreads Adam Smith and the American Founding
Comments: https://news.ycombinator.com/item?id=49395040
#HackerNews #PaulAtkins #AdamSmith #AmericanFounding #Misinterpretation #EconomicsDiscussion
-
In a better world, I am #reading a focused route thru the political thought immediately preceding #AdamSmith in Wealth of Nations:
1. Aristotle, Politics
2. Machiavelli, Discourses on Livy
3. Hobbes, Leviathan
4. Locke, Second Treatise of Government
5. Montesquieu, The Spirit of the Laws
6. Hume, Political Discourses
7. Cantillon, Essay on the Nature of Commerce in General
8. Quesnay, Tableau économique -
Growing up, I was always told to mock #socialism as a form of utopianism, as if that was a bad thing. #Utopianism was never a belief that something would happen, or that anything would be perfect. It was a thought experiment to consider what a perfect outcome would look like, so we could implement the ideas and get as close as possible. Meanwhile, #capitalism , #conservatism , #liberalism , and #libertarianism are just as #utopian in their dreams. Capitalism and libertarianism believe that if we JUST get government out of the way, we could have the #freemarkets work the way they are supposed to and lead to prosperity for all, never mind that corporations only exist because of #bankruptcy laws and standards created by Congress. Modern conservatism believes that if we just went back to a specific, unspecified time point when religion ruled, we would have prosperity again, never mind that America was never like that, even when we were at our most religious. #Liberals believe that if freedom, equality, and equity are guaranteed, but with a true free market that does require governments to regulate it, we would have true prosperity. The only difference is that #Marx , using arguments by #AdamSmith himself, poked holes in all of these ideas at their core. That the structure itself needed an overhaul of who holds power, or at least patched with a strong welfare state, and to work toward that utopian dream where the people held the power instead of the lords or #oligarchs and everyone was a lawmaker with direct democracy, there was a return of #thecommons that was just the norm for most of human history, and #personalproperty was something you physically used, erned and worked instead of from trading, hoarding and wasting while people starved aka #privateproperty . The day the lords stole the commons from the people was the day that socialism started to exist, with the Diggers and the Levelers attempting to take on the power of the lords and realizing they already ran their own villages, or communes and affairs in their areas, and the lords were just a middleman that contributed little to nothing. Hence the term #communism , which is a return to the natural commons people like #John Locke and #Voltaire and other #Enlightenment thinkers idealized, but capitalism has brainwashed people to ignore, forget, or never know in the first place they believed this while we were told to look up to them. Utopianism gives us the power to dream, to coalesce our ideas and our ideals. When we were told not to dream of our ideal world but were told to dream of their ideal, that's when the dream died and we just all became doomers. -
Sorry that Kshama Sawant lost her election yesterday, and the war mongering genocide denying Adam Smith will get another term in office. I'm really glad she ran though, we need more candidates talking directly about the working class, and forcing candidates and the media to talk about these issues.
-
Interesting election today, Kshama Sawant challenges Adam Smith in Washington primary. It'll be difficult to defeat Adams, but he's clearly nervous and I hope they manage it.
https://ballotpedia.org/Washington%27s_9th_Congressional_District_election,_2026
-
It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner, but from their regard to their own interest.
-- Adam Smith -
Science is the great antidote to the poison of enthusiasm and superstition.
-- Adam Smith⬆ #Wisdom #Quotes #AdamSmith #Religion #Science #Superstition
-
"Just 'align the incentives' and let markets do the rest.
This is an area where there's broad overlap between the left and the right. Chapter one of The Communist Manifesto is Marx and Engels' love letter to the incredible power of markets to improve everyone's material conditions by increasing production while lowering costs.
Meanwhile, over in Wealth of Nations, Adam Smith comes to the same conclusion."
#CoryDoctorow, 2026
https://pluralistic.net/2026/07/16/lucky-orifices/#invisible-hands
-
#AIPACAsshole #11: #AdamSmith
https://m.youtube.com/shorts/ww8YUyZYC7E
9th Congressional District #WA
#WashingtonState#VoteForKshamaSawant who has a long consistent #history of working to make #Seattle and the world better and diesn't take AIPAC
-
If you are not familiar with one of my favorite Seattle politicians socialist Kshama Sawant, check out Chris Hedges' substack interview with our three time elected city council member who is now challenging moribund military industrial supporter (never saw a weapon he didn't like) Adam Smith who's been in Congress for nearly 30 years.
#KshamaSawant #Congress #Seattle #AdamSmith #DeadbeatDems -
US-Iran talks in Switzerland delayed, White House says Vance remains ready to go
Plans for US Vice-President J.D. Vance to travel to Switzerland for a new round of talks with Iran…
#NewsBeep #News #BreakingNews #AbbasAraghchi #AdamSmith #AyatollahAliKhamenei #BillCassidy #breakingnews #DonaldTrump #EmmanuelMacron #Geneva #GregoryMeeks #Iran #Israel #J.D.Vance #JimHimes #MasoudPezeshkian #MohammadBagherGhalibaf #Pakistan
https://www.newsbeep.com/599970/ -
“It is not very unreasonable that the rich should contribute to the publick expence, not only in proportion to their revenue, but something more than in that proportion”
—Adam Smith, An Inquiry into the Nature & Causes of the Wealth of Nations, vol. III (1776)
Adam Smith ſays tax the rich
3/3
#Scottish #literature #18thcentury #economics #AdamSmith #tax #taxation #tax_the_rich
-
“All writers have ideas for books they will never write. Mine is ADAM SMITH’S GUIDE TO PARENTING, an attempt to de-throne mummy & re-anoint society as the prime mover in child development”
—As we confront how time spent in digital spaces impacts socialisation & child development, Allyson Stack looks at Adam Smith’s THEORY OF MORAL SENTIMENTS for inspiration
2/3
https://www.imaginedspaces.org/new-writing/adam-smith-guide-to-parenting
#Scottish #literature #18thcentury #AdamSmith #parenting #socialmediaban
-
“not only is there no invocation of the free market […] Smith does not believe in a capitalist marketplace wholly free from restriction or regulation”
—Adam Smith (1723–1790) was baptised #OTD, 16 June (NS). Evan Gottlieb examines Smith’s “Invisible Hand”. Evan Gottlieb examines Smith’s “Invisible Hand”
1/3
-
#OnThisDay 5. Juni:
1723 - Adam Smith wird geboren.
1947 - US-Außenminister Marshall gibt die Grundlagen seines Aufbauprogramms für Europa bekannt.
Was wollen wir feiern?
---
[Täglich Weltgeschichte mit Objekten aus unserem Portal im DDB-Kalenderblatt: https://www.deutsche-digitale-bibliothek.de/content/kalenderblatt]
#adamsmith #unsichtbarehand #marshallplan -
Adam Smith était-il un partisan du laissez-faire ?
https://www.contretemps.eu/adam-smith-etait-il-un-partisan-du-laissez-faire/
#Politique #Théorie #UnePrincipale #AdamSmith #Capitalisme #DivisionDuTravail #Economie #LibreÉchange #Marx #Protectionnisme -
The current #finance-bro fixation of #monetization of every angstrom of existence is creating a system where everyone is geared to try to make money without an actual commensurate creation of classic #AdamSmith-grade value. It's the performance of value by arbitrary assertion of a desired valuation, not by actual value added to anything. It's rentier capitalism instead of productive #capitalism.
And it is deeply stupid.
-
Singing the Wealth Of Nations
Part 1: https://www.iheart.com/podcast/900-freakonomics-radio-23562350/episode/673-what-is-money-332223861/
Part 2: https://freakonomics.com/podcast/how-does-a-composer-feel-after-the-world-premiere/
Freakonomics Radio reports on David Lang's oratorio celebrating Adam Smith.
-
@wauz ワウズ Das hat der #AdamSmith, wenn ich ihn richtig verstanden habe, anders gesehen. Weil es mein Profit ist, bringe ich sinnvolle und qualitativ hochwertige Produkte auf den Markt.
Mit der Landjugend habe ich vor 40 Jahren Ungarn besucht und auch einen landwirtschaftlichen Betrieb besichtigt.
Luzernetrocknung: Aufnahme und Verteiler waren NEUERO.
Schlepper Ursus, Ladewagen Mengele. -
"He is not saying that our self-interest, properly channelled through markets, incidentally produces good outcomes for others. He is saying that we are constitutively social creatures — that we are naturally concerned for others’ well-being independent of our own self-interest, and that a just society must be built on that recognition." #economics #canada #cdnpoli #adamsmith https://thetyee.ca/Opinion/2026/04/27/What-Pierre-Poilievre-Economic-Hero/
-
U.S. Congressman Adam Smith (Washington), top Democrat on the House Armed Services Committee, calmly laid out Hegseth’s and Trump’s failings with respect to #Iran, including Trump’s attacks on #NATO and allies and schoolgirls, and it is perfect. 10/10, no notes.
#Iran #AdamSmith
https://youtu.be/pE-dV4BtK6Q?si=eDfIXZBgKQXk9P-7 -
Hegseth defends Iran war, defense budget ask in House hearing
WASHINGTON (Gray DC) – Secretary of Defense Pete Hegseth defended the war in Iran and the president’s nearly…
#NewsBeep #News #BreakingNews #AdamSmith #breakingnews #DefenseBudgetRequest #FY27Budget #hasc #HegsethatHASC #housearmedservicescommittee #Iran #iranwar #OperationEpicFury #PeteHegseth #SecretaryofDefense #thepentagon #WarinIran
https://www.newsbeep.com/511479/ -
Iran War Has Cost $25 Billion So Far, Pentagon Says
Audio of this article is brought to you by the Air & Space Forces Association, honoring and supporting…
#NewsBeep #News #BreakingNews #2027budget #AdamSmith #breakingnews #CENTCOM #Gen.DanCaine #housearmedservicescommittee #Iran #Iranblockade #JayHurst #PeteHegseth #RoKhanna
https://www.newsbeep.com/511062/ -
Iran War Has Cost $25 Billion So Far, Pentagon Says
https://web.brid.gy/r/https://www.airandspaceforces.com/war-against-iran-cost-25-billion-pentagon/
-
Book Review: The Wealth of Nations by Adam Smith
Few books on money have had the lasting impact of The Wealth of Nations. First published in 1776, this classic by Adam Smith remains one of the most influential works in economics. While it is not a quick or easy read, it continues to shape how investors, policymakers, and everyday people think about markets, trade, and wealth creation.
For readers looking to deepen their financial education, this book offers a long-term perspective that complements modern strategies like budgeting, index fund investing, and building financial independence.
Buy The Wealth of Nations on Amazon
Brief Summary
The Wealth of Nations is a deep exploration of how economies function. Smith examines how individuals pursuing their own interests can unintentionally benefit society as a whole. This idea, often summarized as the “invisible hand,” is one of the most widely discussed concepts in economic thought.
The book covers topics such as division of labor, productivity, free markets, taxation, and international trade. While written in the 18th century, many of its ideas still apply to modern capitalism and investing.
Who Is Adam Smith?
Adam Smith was a Scottish economist and philosopher, often referred to as the father of modern economics. He lived during the Enlightenment, a time when thinkers were challenging traditional ideas about government and society.
Smith was not just focused on money. He was deeply interested in human behavior, ethics, and how societies organize themselves. His earlier work, The Theory of Moral Sentiments, explored the psychological side of decision-making, something that remains highly relevant to personal finance today.
Lessons Readers Can Take Away
The Power of Specialization
Smith’s concept of the division of labor explains how productivity increases when people focus on specific tasks. This idea is visible everywhere today, from global supply chains to corporate structures.
For individuals, this reinforces the value of focusing on your strengths and earning power. Increasing income through specialization can be just as important as cutting expenses.
Markets Tend to Self-Regulate
The idea of the invisible hand suggests that free markets, when left largely alone, tend to allocate resources efficiently. While not perfect, this principle underpins modern investing strategies like buying the S&P 500 and letting the market work over time.
For long-term investors, this supports a passive approach rather than trying to outsmart the market.
Wealth Comes From Productivity, Not Just Money
Smith emphasized that a nation’s wealth is based on its ability to produce goods and services, not just accumulate gold or currency.
This aligns with modern investing. Real wealth is built through owning productive assets like businesses, which is exactly what index fund investing provides.
The Role of Government Should Be Limited but Important
Smith was not anti-government. He believed in roles such as national defense, justice systems, and public works. However, he warned against excessive intervention that distorts markets.
For readers, this highlights the importance of understanding how policy decisions, taxes, and regulations can affect investments and personal finances.
Buy The Wealth of Nations on Amazon
Criticisms of the Book
It Is Dense and Difficult to Read
One of the biggest challenges is simply getting through it. The writing style is outdated, and the book is long and repetitive at times.
For beginners looking to learn budgeting or basic financial literacy, this may not be the most practical starting point.
Some Ideas Are Over-Simplified
While the invisible hand is powerful, real-world markets are more complex. Issues like monopolies, inequality, and externalities are not fully addressed in ways that match today’s economy.
Modern readers should balance Smith’s ideas with newer perspectives.
Not a Personal Finance Guide
This is not a book about budgeting, saving, or choosing a financial advisor. It is a macro-level look at economies. Readers looking for actionable steps may find it lacking in practical advice.
Should You Buy This Book?
It depends on your goals.
If you are looking for:
- A deeper understanding of how money and markets work
- A historical foundation for modern investing ideas
- One of the most important books on money ever written
Then The Wealth of Nations is worth owning, even if you read it slowly over time.
If you are looking for:
- Simple budgeting strategies
- Step-by-step investing guidance
- Quick financial wins
You are better off starting with more modern, practical books before tackling this one.
Final Thoughts
The Wealth of Nations is not a casual read, but it is a foundational one. It explains why markets work the way they do and why long-term investing strategies, like owning the S&P 500, make sense.
For readers serious about financial independence and understanding money at a deeper level, this book provides context that modern finance books often assume but rarely explain.
It will not tell you how to build a budget or pick a savings account, but it will change how you think about wealth itself.
Buy The Wealth of Nations on Amazon
#AdamSmith #BookReviews #Books #Business #Economics #Investing #TheWealthOfNations