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Commerce and manufactures can seldom flourish long in any state which does not enjoy a regular administration of justice, in which the people do not feel themselves secure in the possession of their property, in which the faith of contracts is not supported by law, and in which the authority of the state is not supposed to be regularly employed in enforcing the payment of debts from all those who are able to pay. Commerce and manufactures, in short, can seldom flourish in any state in which there is not a certain degree of confidence in the justice of government. Adam Smith, the Wealth of Nations, Book V
The exclusive privileges of corporations, statutes of apprenticeship, and all those laws which restrain, in particular employments, the competition to a smaller number than might otherwise go into them, have the same tendency, though in a less degree. They are a sort of enlarged monopolies, and may frequently, for ages together, and in whole classes of employments, keep up the market price of particular commodities above the natural price, and maintain both the wages of the labour and the profits of the stock employed about them somewhat above their natural rate. Adam Smith, The Wealth of Nations, Book I
People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary. Adam Smith, The Wealth of Nations, Book I
The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers. To widen the market may frequently be agreeable enough to the interest of the public; but to narrow the competition must always be against it, and can serve only to enable the dealers, by raising their profits above what they naturally would be, to levy, for their own benefit, an absurd tax upon the rest of their fellow-citizens. The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it. Adam Smith, The Wealth of Nations, Book I
originally posted by: OrphanApology
a reply to: onequestion
We're not in a system of capitalism. We never have been. EVER.
Traditional capitalism is a system of private ownership where owners try and use free market to make profit(in other words, no government control/ownership).
The current system we are in is in no way capitalism. Corporatism definitely.
But lets just call corporations what they really are...which are appendages of the government that exist only because of laws that disrupt private ownership and the forces of the free market.
There is no "private" ownership anywhere in the world. There is no "free-market"...save maybe Bitcoin as being a close contender.
Edit 9:07 cst:
Also capitalism does promote proper behavior because it promotes mutual best interest. The trade of self-interests is the only type of business that works in the long run. When government starts being used as a tool to violently steal from one group and give to another, all morality is out the window. Those systems are also not based on private ownership but rather government ownership(as is the case in the United States. No individual "owns" anything)
Again, there has never been a truly capitalistic system. It is the same as anarchy, which again has never existed.
That is all.
originally posted by: LittleByLittle
a reply to: NoRulesAllowed
Can you give me an example on a class less communistic country that did not have an implemented power pyramid system both politically and economically?
Cuba is a bit on the socialistic side but it is not classless, China had their party and Russia had Ukraine as the place where the important "some people are more equal then others" could have fun as tourists.