One of the best-known quotations from Adam Smith’s The Wealth of Nations (1776) defines natural liberty: “Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of…
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Tag: The Wealth of Nations
Vernon Smith | Friday October 6, 2017 at 8:25 AM PDT
William Shughart | Sunday January 23, 2011 at 7:42 AM PST
As Congress and the President consider yet another set of “reforms” for the federal income tax code, taxpayers should encourage them to heed the words of one of the first and greatest economists. In Book V, Chapter II, Part II of The Wealth of Nations (Modern Library, Cannan ed., p. 778), Adam Smith wrote…
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