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What strikes me about the Smith anniversary coverage is how thoroughly we've abandoned the part of his argument that made free markets work — genuine competition and genuine mobility. A worker who can't leave a job because they'd lose their family's healthcare isn't participating in a free market. They're a captive. A small business competing against a corporation with a team of tax attorneys isn't experiencing the level playing field Smith described. The current system isn't capitalism as Smith defined it. It's mercantilism with better branding. The policy question isn't whether to honor Smith — it's whether we're willing to build what he actually described. I've been working on a framework that tries to do exactly that: burnedatbothends.org

Mar 11
at
11:32 PM
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