restraint of tradeNOUN1. action tending to interrupt the free flow of goods and services, as by price fixing and other practices that have the effect of reducing competition. (Source: Dictionary.com; italic emphasis added.) Here’s an offer from amazon.com to ship cross-border—USA to Canada—though undoubtedly, the FREE Shipping will need to be adjusted. Here’s the adjustment! […]
Restraint of Trade ? Read More »
AWAKE !!to the price-tag ofdelusion. Once upon a time, Adam Smith said: People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. (The Wealth of Nations, p. 148—I.X.I) Once upon a (more recent) time, foreigners
Has Anyone Noticed ? Read More »
(*Adam Smith, that is) “LABOUR, it must always be remembered, and NOT any particular commodity or set of commodities, IS the real measure of the value both of silver and of all other commodities” [The Wealth of Nations, Bk 1, Ch. XI, Part III, p. 214; capital and bold emphasis added]. So why do we:
~Adam Smith’s invisible hand (in its present, contorted multinational condition): By preferring the support of [global] to that of [domestic] industry, [the multinational] intends only [its] own security; and by directing that industry in such a manner as its produce [and branding] may be of the greatest value, [it] intends only [its] own gain, and
Which Hand? — Invisible? or Learned? Read More »
~Why 1601? Because those were the good old dogma days when “truth” had no obligation to conform to observed reality and measurement! Those were the days before the enlightenments of Galileo, Bacon, Locke, Newton, etc. Those were the days when the Church (or King or Baron or local aristocrat) spoke and “truth” reigned. Now, in
Back to Square 1601 Read More »
~ ————/Note 1: Because symbols and pictures can sometimes be more direct than words, I have undertaken to sketch some thoughts and observations of the current state of dire affairs between Big Business, big government, small politics, and the beleaguered citizen (formerly “a person with equal rights”). Hopefully over time my rough art will improve.
ECON 001 ~ The (In)Visible Hand($) Read More »