"Adam Smith's enormous authority resides, in the end, in the same property that we discover Marx: not in any ideology, but in an effort to see to the bottom of things." Robert L. Heilbroner commenting on An Inquiry into the Nature and Causes of the Wealth of Nations--
We are no Adam Smith, but we are putting forth "an effort to see to the bottom of things."
Monday, April 07, 2008
Einstein Quote Of The Day
"The health of society thus depends quite as much on the independence of the individuals composing it as on their close political cohesion. "
Russ Roberts made this exact point in a podcast with Deborah Gordon who studies emergence of order in ant colonies even though there is no central authority. The key is that each ant (person) has a role to play in the colony (economy) and that they only succeed when everyone does their part in an independent fashion.
Russ Roberts made this exact point in a podcast with Deborah Gordon who studies emergence of order in ant colonies even though there is no central authority. The key is that each ant (person) has a role to play in the colony (economy) and that they only succeed when everyone does their part in an independent fashion.
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