Wednesday, July 4, 2012

1776: Birth of a More Important Idea: Adam Smith's Free, COMPETITIVE & JUST Markets




Adam Smith's Wealth of Nations was based on three extraordinary ideas:

  1. Freedom: Individuals have the right to produce and exchange products, capital and labor as they see fit.
  2. Competition: Individuals have the right to compete in the exchange of goods & services.
  3. Justice: The actions of individuals must be just and honest according to the rules of society.

"Every man, as long as he does not violate the laws of Justice, is left perfectly Free to pursue his own interest in his own way, and to bring both his industry and capital into Competition with those of any other man or order of men." Adam Smith
I assert this three legged stool has only one leg left: "Freedom," as in the highly espoused Ayn Randian, "Free Market" absolutist mentality which is really just government backed mercantilism 2.0.  This is evidenced by our broken world economies where the most powerful use the "free" market to kick the other two legs of Competition and Justice out from the rest of us.
Time to regain some moral vigor and force another revolution to reinstall competition and justice to our political-economic system. 

Sincerely,
Lawrence Feriozzi


Declaration of Independence

 Read & Repeat to Protect Against Tyranny

In CONGRESS, July 4, 1776
The unanimous Declaration of the Thirteen United States of AMERICA.
WHEN, in the Course of human Events, it becomes necessary for one People to dissolve the Political Bands which have connected them with another;


No comments:

Post a Comment