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| Name: |
MartiniMan
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| Subject: |
Adam Smith knows Obama
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Date:
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1/16/2010 9:28:23 AM
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"The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted to no counsel or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it." - Adam Smith
As we understand from history, there is nothing new with Obama. It has been tried and failed over and over again with not one example of success. Those who do not learn from history are doomed to repeat it.
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| Name: |
GoneFishin
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| Subject: |
Adam Smith Supports Obama
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Date:
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1/16/2010 10:16:24 PM
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While Adam S,ith was a strong supporter of free markets, he would have supported Obama's tarrif on tires from China as he favored retaliatory tariffs.
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| Name: |
MartiniMan
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| Subject: |
Basis for saying this?
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Date:
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1/17/2010 9:28:19 AM
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GF, no offense but just cause you say it doesn't make it so. I believe you are obligated to back that up with quotes taken in proper context.
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| Name: |
GoneFishin
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| Subject: |
Basis for saying this?
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Date:
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1/17/2010 12:40:33 PM
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Adam Smith being the father of the free market was, indeed, against tarrifs. However, he did support a short term retalitory tarrif.
"There may be good policy in retaliations of this kind, when there is a probability that they will procure the repeal of the high duties or prohibitions complained of. The recovery of a great foreign market will generally more than compensate the transitory inconveniency of paying dearer during a short time for some sorts of goods. To judge whether such retaliations are likely to produce such an effect, does not, perhaps, belong so much to the science of a legislator, whose deliberations ought to be governed by general principles which are always the same, as to the skill of that insidious and crafty animal, vulgarly called a statesman or politician, whose councils are directed by the momentary fluctuations of affairs. When there is no probability that any such repeal can be procured, it seems a bad method of compensating the injury done to certain classes of our people, to do another injury ourselves, not only to those classes, but to almost all the other classes of them."
Adam Smith
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| Name: |
MartiniMan
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| Subject: |
Retaliatory tariffs?
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Date:
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1/18/2010 8:41:12 AM
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No doubt Adam Smith at time espoused the threat of retaliatory tariffs but quite frankly almost every President uses them. Your much detested GW Bush used tariffs against Chinese steel because of dumping. So I would rather put it that on one very miniscule issue Obama agrees with Adam Smith and not that Adam Smith would be anything but horrified at the anti-competitive, violating the rule of law actions and outright hostility of the Messiah toward businesses both large and small. Nice try though......
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