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The  Follies  of  Adam  Smith  are: 

I. Faith in Nature, faith in human nature--men are naturally good--and faith in an  imaginary  system  of  natural  liberty  which can dispense with economic morality: 

Smith believed in the Harmonious  Natural  Universe of the old pagan Stoics.  His first big book,  The Theory of Moral Sentiments, was an attempt to produce a natural--Non Christian--system of morality.  His economic theory is based on metaphysics, not science, as he and his followers claimed.  He was no more a scientist than Karl Marx, the founder of scientific socialism.

Smith was a closet anti Christian, like the other 18th century intellectuals, many  of them secret Freemasons, who launched the American Revolution and the French Revolution.  They not only worked to undermine the Church establishment, they worked to liberate society--especially themselves--from the irksome restrictions of Christian morality.  They believed in natural liberty:  they were secret worshipers of Isis, the goddess of Liberty, who encourages sexual liberation, including especially the homosexual liberation which is a necessity for the graduates of the English public school system.  Faith in Liberty pushed Smith to his basic humanist economic dogma that  human nature can be trusted.   It will all work out.  No need for chaperones at dances, laws against buggery, or morality in the economy.  Which is contrary to the basic  Christian doctrine that human nature is fallen, men are naturally prone to evil, and  morality  is  necessary  in regard to both money and sex. 

II.  A dogmatic blindess to the real  system of artificial coercion--the militarism of the British army and the British navy--which created Great Britain by the occupation of Ireland and Scotland and which was the foundation of the british empire. 

Smith blandly assumes that the Dukes owning the land and doing no work, while those who do the work own no land, is somehow natural.  The distribution of land after the Norman Conquest was natural.  His career depended upon the patronage of the Dukes and upon his  conformity to the English conquest of Scotland which created The United Kingdom.  The last Scottish rebellion was crushed in 1745 while Smith was at Oxford, learning how to be a proper Englishman with a proper English accent.  He was a conformist, not a rebel.  In his economic writing he ignores and glosses over what was done to the economy of Scotland and Ireland by the English conquest.  He was also blind to the military foundations of the economy of the British Empire.  As if Nature had produced the sugar plantations of the West Indies and the tea plantations of Ceylon.  As if Thomas Jefferson had acquired his 10,000 acre tobacco plantation and his 200 slaves via the  system  of  natural  liberty  and  the natural division of labor in which Mr. Smith believed.  We still have the same "system."  It was militarism--World War II--not free enterprise--that finally rescued the American economy from the Great Depression.  The economy is still tied to a permanent military establishment.   

III.  The bland assumption, arrived at by deduction,  not observation, that laborers are paid enough to support families:     [ See Adam Smith and Family Wage ]  

Smith claimed to be a scientist but he didn't bother to walk out the door to find out whether in fact laborers were receiving a family wage.  They weren't.  They received a servant wage at best, enough to allow a single person to survive--so long as he didn't get sick. 

IV.  The faith that Members of Parliament would some day cease to take bribes and stop passing laws that insure the profits of the merchants and manufacturers--what Smith called TheMercantile System.  In 200 years it still hasn't happened.   The lobbyists still surround the legislature and get what they want from it.   [ see Christian Economy ]

 

 
 
 
 
 


for more about Adam Smith, click on: 

 XCONOMY.DOC


 
  
 
 
 
 
 
 
 
 
Terry Sullivan 
1526 East 35th Avenue
Denver Colorado 80205
303 295 6891