Thursday, October 11, 2018

Chris Dillow — Adam Smith's two economies

Adam Smith thought there were two economies – meritocratic for the poor and powerless and anti-meritocratic for the powerful.
There is also a legal double-standard of justice reflecting this. Steal a hundred go to jail; steal a million, get promoted.

Accountability is inversely proportional to status?

Stumbling and Mumbling
Adam Smith's two economies
Chris Dillow | Investors Chronicle

No comments: