• Fried_out_Kombi@lemmy.world
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    1 year ago

    Honestly, Adam Smith gets a worse rap than he deserves because all the rich people abused his ideas to peddle unregulated, free-wheeling capitalism. Even Smith knew the inherent danger of privatization and monopolization of land and rampant rent-seeking.

    Kinda like how Nietzsche’s sister exploited and misrepresented his work after his death to further the Nazi cause.

    It seems to be a common thing with a lot of the classical economists that they all recognized (and wrote quite a bit about) these problems of monopolism and rent-seeking, but wealthy elites cherry-picked their books to serve their own economic agenda.