On Fri, January 17, 2014 3:05 pm, Rohan McLeod wrote:
Me nether; problem is following Adam Smith, I think this was generalised to the notion that 'a competitive free-market' was 'the' panacea for all social economic problems; certainly by the dries. Mind you the expectation that in a competitive free-market of rational consumers and rational producer/ retailers; I wouldn't expect it to be too hard, to demonstrate mathematically that price will follow demand.
I suspect that you actually haven't read "An Inquiry into the Nature and Causes of the Wealth of Nations". You seem to attribute claims to Adam Smith as if he was some sort of bogey-man which, from my recollection, he didn't make at all. If you *have* actually read the relevant text, please point out to me where he actually says that a competitive free market is the panacea for all social and economic problems? -- Lev Lafayette, BA (Hons), GradCertTerAdEd (Murdoch), GradCertPM, MBA (Tech Mngmnt) (Chifley) mobile: 0432 255 208 RFC 1855 Netiquette Guidelines http://www.ietf.org/rfc/rfc1855.txt