Posts Tagged ‘Adam Smith’

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    From Mill to Obama

    Apr 29, 10 • 283 Views • No Comments

    Yesterday, President Obama briefly said that some salaries on Wall Street were more than anyone should earn.  Approximately 160 years ago, John Stuart Mill responded by saying that he wanted to encourage work. Consequently, instead of limiting salaries...  [read more]

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    The Ties That Bind Us

    Apr 23, 10 • 206 Views • No Comments

    Although Nairobi and London are 4228 miles apart, they actually are closely connected. The NY Times described the tie that was cut by volcanic ash. Kenyans supply gourmet vegetables and cut flowers to European supermarkets. When planes were grounded, so too...  [read more]

  • Adam Smith and a Physician’s Pay

    Jan 6, 10 • 316 Views • No Comments

    Pondering healthcare reform again, I came across this comment from Adam Smith, 1776, WEALTH OF NATIONS: 22 We trust our health to the physician: our fortune and sometimes our life and reputation to the lawyer and attorney. Such confidence could not safely be...  [read more]

  • Adam Smith and Wine

    Dec 19, 09 • 271 Views • No Comments

    Known for his absentmindedness, Adam Smith seemed always to be pondering economic issues. According to The Economist, not always. In their December 17 issue, Smith is quoted in an article on the history of wine. He seemed to be alluding to...  [read more]

  • Are We All Keynesians?

    Dec 15, 09 • 299 Views • No Comments

    According to the Yardeni newsletter, in 1965, A Time Magazine cover story was titled, “The Economy, We Are All Keynesians Now”. Even Milton Friedman was quoted as saying, “We are all Keynesians now.” (which he later corrected as having...  [read more]