Thank goodness the “1 percent” have seen their wealth increase $21 trillion. It’s a logical signal of rising living standards for everyone, not rising poverty as left-wing commentators laughably conclude.
Smith’s first published book, The Theory of Moral Sentiments [1759], is a study on how we humans develop shared ideas of fairness and morality. Our morality is not derived from a divinely inspired moral sense. It is the result of a triangulation between an actor, an action, and a viewer.
FALC is a strong brew of technological determinism, sunny utopianism, and souped-up socialism: Let the robots do all the work, and let humans enjoy the fruits of their labor in equal measure. The idea has come into vogue over the past half-decade or so among progressive thinkers concerned about inequality and stagnation.
As a largely-forgotten economist with the name of Richard Cantillon pointed out, when new money is introduced into an economy, it enters at processes close to the central bank – and then trickles slowly through the rest of the economy. Thus, it is more beneficial for some, like big banks and hedge funds and their clients, than for others.
To quote Adam Smith again, “It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner, but from their regard to their own interest”. If they know what others need in order to feel more valuable, entrepreneurs can design and offer products and services to meet that need.
The decision is bad; it’s an extension of the city’s straw ban, plastic bag ban, and all the other Big Brother bans that make San Francisco more politically correct than liveable. Nothing is solved with these bans and quality of life is never improved any more than the earth is saved
Pollsters continuously report that the dominant modern political factions hate each other to an unprecedented degree, and their chosen standard bearers are seeking to act on that loathing. It’s enough to make you think government officials shouldn’t be trusted with the powerful tools of the state.
What makes our values right and theirs wrong? Why should our views and values prevail? Under our Constitution, many practices are protected — abortion, blasphemy, pornography, flag-burning, trashing religious beliefs — that other nations regard as symptoms of a disintegrating society.
Wages in May for nonsupervisory employees increased 3.4% year over year, the 10th consecutive month at or above 3%—after a stretch in which wage growth had been below 3% for every month since May 2009. The recent gains were even more significant for workers in traditional low-wage sectors.
The Progressive Left has a seminary, too — a finishing school where the ambitious and well schooled are polished to become “ministers” of their religion. It is the American university system.
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