Adam Smith
Saturday 26 March 2011
The Free Market
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."
Adam Smith
Each person taking care of themselves, ensuring that they achieve the best possible outcome for themselves naturally creates the best outcome overall. Government intervention aims at helping people out, but in reality only "helps" them in the short run by delaying the problem, and screws them over in the long run. Government funded projects are inherently inefficient because, unlike in a private business, there is not enough risk taken on by the person in charge and not only that, but the reward is lacking if the person does a good job opposed to a mediocre one.
Adam Smith
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Good post mate, not sure I agree with it all though. Government has to provide some services that are essential for a functioning society, services such are police and fire fighters.
ReplyDeleteI don't think anyone wants to end up in a position were the poor, who can't afford the price, their home burn down while fire fighters stand by and waiting for it to spread to the home of someone who cant afford the price
Good idea to share this post, thanks for writing.
ReplyDelete@Danny, word...
ReplyDeletenice one !
ReplyDeletebtw. remove word check
Great blog, finally an article that doesn't talk about games lol
ReplyDeleteThank you for this.
I completely agree with you!
ReplyDeleteAnd in our society, there are so many people that give and give. Charities and non-profits make so much off of people just giving, that I'm sure so many government offices could be replaced with non-profit organizations.
This is so true. Keep up the good work
ReplyDeletei'm a big fan of adam smith
ReplyDelete