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#AdamSmith, #WealthOfNations, and #CornLaws!
What more could you possibly want on a Saturday morning? (IV.v.b) #WealthOfTweets #SmithTweets

 Yes, it’s the Digression Concerning the Corn Trade and Corn Laws! We can barely contain ourselves long enough to remind you that “corn” doesn’t mean 🌽 It means the principal cereal crop of a nation. (We keep saying so because we keep forgetting.) #WealthOfTweets #SmithTweets
#TLDR on #AdamSmith’s thoughts on the Corn Laws:

They’re bad. (IV.v.b.1) #WealthOfTweets #SmithTweets
Corn merchants can be broken down into four groups. Smith loves to break things down into groups.
1) Inland traders
2) Importers
3) Exporters
4) Transporters (IV.v.b.2) #WealthOfTweets #SmithTweets
If inland traders raise their prices higher than supply and demand will allow, they’ll discourage consumption beyond “thrift and good management.” People will go hungry and crops will rot.

That's bad. (IV.v.b.3) #WealthOfTweets #SmithTweets
If inland traders don’t raise prices high enough, people will overbuy, traders will lose profits, and the food will run out before the end of the season and people will go hungry.

That's bad. (IV.v.b.3) #WealthOfTweets #SmithTweets
Careful attention to supply and demand and sensible pricing means that inland traders get the best profit and the people don’t starve.

It's the #InvisibleHand at work. That's good! (IV.v.b.3) #WealthOfTweets #SmithTweets
If it were possible to have a monopoly on corn, a merchant might destroy crops to raise prices. But it’s too hard to do this with corn—too many merchants, too much corn. (IV.v.b.4) #WealthOfTweets #SmithTweets
You don’t get dearth and famine from inland merchants colluding over prices.

You get dearth from war and bad weather.

You get famine from government interference. (IV.v.b.5–6) #WealthOfTweets #SmithTweets
When the government sets prices for corn, they either keep corn off the market ➡ early famine, OR encourage people to buy too much too soon ➡ end-of-season famine.

People don't like it, but free trade is the only solution. (IV.v.b.7) #WealthOfTweets #SmithTweets
When the govt interferes and famine results, everyone blames the corn merchants, not the government.

They seem, to Smith, to be the most hated of all merchants in history. (IV.v.b.8–10) #WealthOfTweets #SmithTweets
"Our ancestors seem to have imagined" they could save money by cutting out the middleman.

We, the SmithTweeters, regret to fill you in about the prejudices of your descendants, Dr. Smith. (IV.v.b.11) #WealthOfTweets #SmithTweets
Middlemen have always seemed to consumers like they make money by doing nothing but increasing the cost of goods they buy before reselling them. (Just ask @mungowitz!) But what middlemen do is bring resources to where they are more valued. (IV.v.b.11) #WealthOfTweets #SmithTweets
Where resources are most valued might be another time or another place. Middlemen know they can make a profit by carrying corn to where it's needed or holding corn until it's needed, and then charging more because it's needed more. (IV.v.b.11–21) #WealthOfTweets #SmithTweets
The prejudice against middlemen resulted in regulating agriculture very differently than manufacturing:
Manufactures were forbidden to sell their wares directly. Farmers were required to. (IV.v.b.12–14) #WealthOfTweets #SmithTweets
These regulations prevented not only the division of labor but the development of land.

That makes corn more expensive, which was the opposite of what the laws intended! Oooooops. (IV.v.b.17) #WealthOfTweets #SmithTweets
Treating corn merchants like any other wholesale dealers would help ensure we use our land, our corn, our money, and our time better. We'd all be better off! (IV.v.b.18–21) #WealthOfTweets #SmithTweets
Adam Smith thinks George III gets some things wrong in the corn laws.

American SmithTweeters agree! (IV.v.b.23–26) #WealthOfTweets #SmithTweets
The corn laws are like laws against witchcraft. They’re irrational and they blame people for bad things that they are not causing. The rational thing is free trade. (IV.v.b.26) #WealthOfTweets #SmithTweets
#AdamSmith discusses the mathematics of politics for three paragraphs.
Then he says, “I have no great faith in political arithmetic.”
Moving on. (IV.v.b.27–30) #WealthOfTweets #SmithTweets
Importers of foreign corn increase supply and lower prices.

That’s good!

Corn farmers and merchants disagree for reasons Smith has been explaining for some time now, but high import duties lead to want and scarcity. (IV.v.b.32–35) #WealthOfTweets #SmithTweets
Counterintuitively, exporters help keep supplies up at home.

Unless farmers are allowed to export, they’ll be too cautious about planting more than they can sell. Failed crops, etc. will lead to an undersupply. (IV.v.b.36) #WealthOfTweets #SmithTweets
We’ve always been nicer to exporters than importers or inland merchants. Maybe because it’s fun to charge high prices to foreigners?
(You should see our international SmithTweeting rates!) (IV.v.b.38) #WealthOfTweets #SmithTweets
In case you're not sure, Smith still thinks free trade is the answer. Forbidding farmers from selling goods to the best market (home or overseas) is unjust as well as unproductive. (IV.v.b.39) #WealthOfTweets #SmithTweets
Why keep regulating? As with religion, we think our own interest is so great the government should push people around to protect it. We build bad laws and worse systems and do dumb things like persecuting "witches". (IV.v.b.40) #WealthOfTweets #SmithTweets
https://t.co/dc9Y96eoj0
[That’s some epic #SmithSnark. We bet #DavidHume drew little hearts in the margin by that paragraph.] (IV.v.b.40) #WealthOfTweets #SmithTweets
Merchants who import grain in order to export it somewhere else are basically banned in England.

That's bad.

A country that serves as a storehouse will never starve! (IV.v.b.41–42) #WealthOfTweets #SmithTweets
Another #TLDR: Stop praising the corn laws and start treating agriculture more like manufacturing. (IV.v.b.43–53) #WealthOfTweets #SmithTweets
One more time. Corn Laws Bad. Free Trade Good!

Good Digression. Good job, everyone. See you tomorrow! #WealthOfTweets #SmithTweets

More from @AdamSmithWorks

@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today, in #WealthOfTweets, more rude produce, #AdamSmith's opinions about Scottish Cheese, and, to be perfectly honest, an irresponsible amount of poop. #WealthOfTweets #SmithTweets

The second kind of rude produce is the kind humans can produce more of in response to demand. This includes stuff like sheep, 🐄🐄, and fruits & veg that farm well.(I.xi.l.1) #WealthOfTweets #SmithTweets

We don’t bother to cultivate this stuff until we reach a certain level of wealth because it reproduces well on its own. But as we get wealthier, we want more stuff and can pay for it, so it’s profitable to herd and farm these things. (I.xi.l.1) #WealthOfTweets #SmithTweets

But unlike the wild and rare stuff, there’s a limit on the price of this kind of produce, because when the price goes higher, we make more of it, which brings the price back down.(I.xi.l.1) #WealthOfTweets #SmithTweets

(We also find more profitable uses for, say, the wild grazing land, crowd the sheep out, and then *need* to cultivate them.) (I.xi.l.2) #WealthOfTweets #SmithTweet
FOR LATER READ
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
The great thing about #AdamSmith is that when he's about to go off on a 65 page tangent, he warns you. Humans, we bring you the DIGRESSIONS ON SILVER! #OhLawdHeComin #WealthOfTweets

Oh King Edward III, it’s adorable that you think you can just decree that servants and laborers become permanently content with wages fixed at the rate they were at five years ago. https://t.co/NtOmttquJ3 (I.xi.e.2) #WealthOfTweets #SmithTweets


He’s already digressing, and he can’t take a minute to share the menu from that famously magnificent feast with us? (I.xi.e.4–5) #WealthOfTweets #SmithTweets

Super Important 18thC Vocab Geekery: When Smith says the price of the quarter of wheat wasn't “supposed to be < 4 oz silver” he doesn’t mean “shouldn't be.” He means “wasn't thought to be.” He’s not approving of fixed prices. (I.xi.e.7) #WealthOfTweets #SmithTweets

So. Many. Wheat. Prices. (But really, Smith is talking about how much wheat it takes to buy a quantity of silver, NOT how much silver it takes to buy a quantity of wheat.) (I.xi.e.1–14) #WealthOfTweets #SmithTweets
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@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
It's been a whole day since we tweeted Part 2 of this chapter, so let us remind you: #AdamSmith just said that the colonies got nothing that helped them succeed from the mother country. (IV.vii.c) #WealthOfTweets #SmithTweets

So these two opening sentences are pretty heckin’ sarcastic:
Now we've seen the great advantages the colonies got (they got nothing!) (IV.vii.c.1)
So what have been the great advantages to Europe! (IV.vii.c.2)

Seems like there’s a...tone there. #WealthOfTweets #SmithTweets


Europeans buy goods from America, and Americans buy European goods as well. Even countries that don’t trade directly with America have benefited. (IV.vii.c.3–8) #WealthOfTweets #SmithTweets

The mother countries restrict colonial trade (esp the exclusive right to buy from or sell to their colonies). That's a dead weight on the increase of the wealth of nations. Everything is more expensive, everyone enjoys less of it. (IV.vii.c.9) #WealthOfTweets #SmithTweets

Maybe European countries get added security? In ancient times, empires expected military support and revenue from their colonies, and they got it.
18thC colonies? Not so much. (IV.vii.c.11–13) #WealthOfTweets #SmithTweets
SOCIETY
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
We have to pause now, because we have to have a whole new tweet thread on #AdamSmith and “savage nations,” because he’s going to keep using this kind of phrase, so we need to talk about it. #WealthOfTweets #SmithTweets

Please know that your friendly SmithTweeters give heavy side-eye to Smith’s use of phrases like “savage nations” and “naked savages” and so on. They are obviously shocking to the modern ear, and they should be. #WealthOfTweets #SmithTweets

“Well, it’s the 18th century, what do you expect?” just isn't a sufficient explanation. #WealthOfTweets #SmithTweets

The 21stC changed from talking about the First World/Third World to talking about developed/developing nations. That’s a good change and a respectful one. The terms we use for countries will continue to change. See:

Probably the best way to think about Smith’s use of the term “savage nations” is to think of it as its own developmental stage on its way to a better set of terms for talking about the differences among nations. https://t.co/2wr7yACEv5 #WealthOfTweets #SmithTweets
FOR LATER READ
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Here we go! Tweeting our way through #WealthOfNations! It’s a marathon, not a sprint, so be sure to stretch, stay hydrated, and keep a steady pace. #WealthOfTweets #SmithTweets

That’s one heck of a first sentence, Dr. Smith. No dithering here. The division of labor is the secret sauce that increases productivity. (I.i.1) #WealthOfTweets #SmithTweets

We always forget the pin factory comes this early and that Smith looks at it not because pins are important (though they are!) but because it’s a small industry that you can look at all at once.(I.i.3) #WealthOfTweets #SmithTweets

How many pins can the SmithTweeters make in a day? How bad do you want them to be? (I.i.3) #WealthOfTweets #SmithTweets

Do you think the pin guys were all “Dude, we let you observe our work, told you how many pins in a pound, showed you every step in the process...and you call us a ‘trifling manufacture’? Not cool, Smith!” (I.i.4) #WealthOfTweets #SmithTweets
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We're standing by in the virtual courtroom for @CraigMurrayOrg's trial to begin. Our tweets will be on this thread. More info on the case can be found at

Presiding are Lord Turnbull, Lord Menzies and Lady Dorian. Court its now in session.

#CraigMurray
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Tashny Sukumaran
Tashny Sukumaran
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Surendra Ananth @surendraananth, you violated my conditional consent. I assented to unprotected intimate relations with you on the STRICT condition that you tell me if you have relations with anyone else. You failed to do so, and I became ill as a direct consequence.

You refused to reveal your own STI results to me, but claimed to others they were negative and alleged I had multiple other partners, slut-shaming me. You gaslit me saying you had told me about your other partners.

You called up @justice_sisters and @SistersinIslam to tell them I was crazy, jilted. You rebuffed attempts to organise a community mediation so we could address matters. You said I was crazy for speaking to your boss and father in an attempt to keep other women safe.

You have a PATTERN OF BEHAVIOUR of misogyny, harassment and sheer disrespect for women. This was sent to a friend of mine who has never expressed interest in you and has a partner.


You think women are playthings, notches on the bedpost. You, @surendraananth, are no human rights advocate.
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Akiva Cohen
Akiva Cohen
@AkivaMCohen
Dear Texas: When your argument is that election procedures were adopted in violation of the Electors clause, the only evidence you need to "marshal" is "what election procedures were adopted and how"

You don't need weeks, a magnifying glass, and Melissa Carone


Also, why is there no other forum? You couldn't have sued in Federal court in Georgia or PA in advance of the election because ...?

Oh, right. No standing. That's still a problem


Also, Texas? I feel like you should take that up with ... Texas


I kind of feel like "look, what you meant by Purcell was let's just wait until after the election and then invalidate ALL the votes" isn't necessarily the *strongest* argument


Also, you don't just get to make up a new principle of constitutional and election law and just call it "a variant of" Purcell (or anything else).

You can tell it's made up by the total absence of any citation to ANY case, ANYWHERE, saying that
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A Thread: The Law of One


The Law of One comes from the Ra Material, a series of conversations between Don Elkins, a physicist, pilot, and UFO investigator, and Ra, a multidimensional being who spoke through Carla Rueckert, a psychic, medium, and Don Elkins’ life partner. It was channeled in the 1980s.
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Joshua Todd James
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Look, I get the reasoning behind not calling witnesses. But what gets lost is that yet another rich white elected criminal got away with it. We've had decades of this (GWB lying re WMDs) & Ds have never stopped it. Never. They just sigh & ask for our votes. We want accountability

They've never rid of of the EC, no Healthcare 4all & any gains we've gotten (NRA going bust, BLM showing us inequality) has been citizen advocacy. And citizens SHOULD do that. But we want our Dem reps to accomplish big things, too. We've given them all three branches twice.

So it's a bit difficult to ask us to swallow this "as a win" when a criminal isn't held accountable by the very means he's supposed to be held accountable.

I understand the challenges, I do. But these same naysayers also wrote off Stacy Adams in GA, and look what she did.

Political calculation is important, sure. But it's not the ONLY important thing, either. Sometimes one has to fight to the bitter end over a thing that matters, even if you lose the fight. I don't see that happened here. And it's part of a pattern. If Ds didn't have this pattern-

Maybe I'd be more forgiving, but I'm not. People got away with torture, they got away with illegally selling arms, working with a hostile foreign nation, killing our citizens via negligence, and thus far NO accountability for any of that, and little hope some will come.
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