As with everything from an intellictual, the Republicans took Smith and held it up to a fun house mirror when selecting the parts they liked. Reagan was the real inflection point for them on economic theory. They called Raegons economic platform “voodoo economics” in the primaries. It never made any sense, never had any grounding in reality. Yet now is their accepted platform.
Smith is supposedly their north star and they contradict his theory continually and ignore all the parts they don’t like. In college reading Smith I was shocked at how much I agreed with him. There are so many things in his theories that would make free market capitalism more practical that we don’t employ.
As with everything from an intellictual, the Republicans took Smith and held it up to a fun house mirror when selecting the parts they liked. Reagan was the real inflection point for them on economic theory. They called Raegons economic platform “voodoo economics” in the primaries. It never made any sense, never had any grounding in reality. Yet now is their accepted platform.
Smith is supposedly their north star and they contradict his theory continually and ignore all the parts they don’t like. In college reading Smith I was shocked at how much I agreed with him. There are so many things in his theories that would make free market capitalism more practical that we don’t employ.