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There are similar whiplash moments in The Wealth of Nations. The dominant theme running through the book is that self-interest and free, competitive markets can be powerful forces for prosperity and for good. But Smith also calls for regulation of interest rates and laws to protect workers from their employers. He argues that the corporation, the dominant form of economic organization in today's world, is an abomination...

Author: /time Magazine | Title: What Would Adam Smith Say? | 3/25/2010 | See Source »

...point here isn't that Smith was right in every last one of his prescriptions and proscriptions. He was an 18th century Scottish scholar, not an all-knowing being. Many of his apparent self-contradictions are just that - contradictions that don't make a lot of sense. (See the best business deals...

Author: /time Magazine | Title: What Would Adam Smith Say? | 3/25/2010 | See Source »

...view, this is admirable behavior that demonstrates restraint and self-moderation. Why does he insist on characterizing it as insincere? Would he rather that they rent stretch-Hummers and spray Dom and Henny on us poor plebs as they drive by? Would this be in the true nature of rich Harvard students, as Mr. McAuley sees them...

Author: By Nick Nehamas | Title: Friends with Money, and Principles | 3/25/2010 | See Source »

...impenetrable unknowability, is recipe for disaster. Difference exists, but in situations in which its danger can be minimized without any costs—like adhering to social norms of modesty—there is no excuse to perpetuate it. Not even out of some misplaced sense of self-righteousness...

Author: By William Rafey | Title: At Least They’re Our Friends | 3/25/2010 | See Source »

...save money so the military can pay for the F-35. "The Air Force, in order to be able to afford the modernization, is going to have to retire some older aircraft," he said. "That's just a fact of life." Others in the Pentagon call it a self-licking ice cream cone: the U.S is now in an arms race with itself...

Author: /time Magazine | Title: The Costly F-35: The Saga of America's Next Fighter Jet | 3/25/2010 | See Source »

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