The Atlantic has an article named The Problem With Inequality, According to Adam Smith. One paragraph reads:Yet there remains a broad consensus, even among scholars of the period, that Smith was concerned by poverty but not by economic inequality itself. According to this view, Smith hoped to ensure that all members of society could satisfy their basic needs, but he was untroubled by relative differences in income and wealth. As long as everyone has food on their tables, clothes on their backs, and a roof over their heads, the thinking goes, it does not matter if some have far more than others. Indeed, it is often claimed that Smith saw economic inequality as a manifestly good thing.
I have pointed out in 2012 that the Prometheus edition of “The Wealth of Nations” is abridged and that a major quote from book 5, chapter 1 is missing:Civil government, so far as it is instituted for the security of property, is in reality instituted for the defence of the rich against the poor, or of those who have some property against those who have none at all.This is only one sentence from some longer paragraphs that Smith has on the the sovereign….
People who quote others should actually read them.
The Atlantic on Adam Smith and inequality miss major quote
Dirk Ehnts | Lecturer at Bard College Berlin