Adam Smith Quotes
This disposition to admire, and almost to worship, the rich and powerful, and to despise or, at least, neglect persons of poor and mean conditions, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments.
Adam Smith, 1723-1790, Scottish Political Economist, The Theory of Moral Sentiments
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This was the prevailing view in Europe at the time; it was less so in the United States, where there were so many people who owned their own land and farmed it or developed manufacturing facilities and hence were the mind AND the limbs of the enterprises. However, the upper classes tended to agree with the European view. The difference between the American and European views was one of class mobility. In America “limbs” who demonstrated capacities of “mind” were much more able to advance in America. However, even into the 21st century here was a general feeling of the upper class that the “minds” made the critical and impactful decisions. This is one of the reasons that executive and CEO pay advanced so rapidly when compared with workers (the “linbs”).
The hymn was officially removed from the Anglican Hymnal in 1963. The hymn is a good example if how Christianity was used to reinforce the status quo of a riged English class system. God ordained the position of all men and onky he could change that. Hard work, education, personal qualities were all for naught. And no one should question the fairness of the status quo, as it was God’s will.
Describing the annual conference in Davos, Switzerland where the very wealthy of the world gather and discuss mutual concerns.
Adam Smith FRSA was a Scottish economist, philosopher as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ''The Father of Economics'' or ''The Father of Capitalism''. Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. In his work, Adam Smith introduced his theory of absolute advantage.
