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View Diary: What did Adam Smith really have to say... (105 comments)

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  •  Adam Smith, Michael Hudson (1+ / 0-)
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    Andrew C White

    From the article,
    None of this classical free market theory is to be found in the Bowles-Simpson commission. It advocates a continued shift of the tax burden off property and the wealthiest layer of the population onto labor, and a fiscal giveaway to the vested interests. This is not what the classical economists meant by a free market. Their idea was to free markets from rent and interest, not to dismantle government power to tax and regulate prices to keep them in line with socially necessary costs of production.
    http://michael-hudson.com/...

    American Heart Association: Diet Soda can cause type 2 Diabetes. "Circulation" July 23, 2007. Read it for yourself.

    by jeffrey789 on Fri Mar 04, 2011 at 08:29:14 AM PST

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