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Natural: How Faith in Nature's Goodness Leads to Harmful Fads, Unjust Laws, and Flawed Science

Book by Alan Levinovitz · 1 quotes · Adam Smith, Economics, Invisible Hand

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Natural: How Faith in Nature's Goodness Leads to Harmful Fads, Unjust Laws, and Flawed Science Quotes

“However appealing it may be in theory, the benevolent design of Nature rarely works out in practice, requiring intellectual acrobatics on the part of those who invoke it. [Adam] Smith recognizes that a healthy economic circulatory system depends on some government interference. Complete freedom leads to monopolies, giving manufacturers outsize power over prices and politicians, which works to the detriment of the body politic. How to account for monopolies while maintaining an ideal of naturalness? Just call them unnatural. Monopolists, writes Smith, are guilty of selling their commodities "much above the natural price." To regulate them is to force them into accordance with nature—even though monopolies themselves naturally emerge in unregulated economies.”

EconomicsNatural LawInvisible HandAdam Smith
Book:Natural: How Faith in Nature's Goodness Leads to Harmful Fads, Unjust Laws, and Flawed Science
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