#AdamSmith, #WealthOfNations, and #CornLaws!
What more could you possibly want on a Saturday morning? (IV.v.b) #WealthOfTweets #SmithTweets
They’re bad. (IV.v.b.1) #WealthOfTweets #SmithTweets
1) Inland traders
2) Importers
3) Exporters
4) Transporters (IV.v.b.2) #WealthOfTweets #SmithTweets
That's bad. (IV.v.b.3) #WealthOfTweets #SmithTweets
That's bad. (IV.v.b.3) #WealthOfTweets #SmithTweets
It's the #InvisibleHand at work. That's good! (IV.v.b.3) #WealthOfTweets #SmithTweets
You get dearth from war and bad weather.
You get famine from government interference. (IV.v.b.5–6) #WealthOfTweets #SmithTweets
People don't like it, but free trade is the only solution. (IV.v.b.7) #WealthOfTweets #SmithTweets
They seem, to Smith, to be the most hated of all merchants in history. (IV.v.b.8–10) #WealthOfTweets #SmithTweets
We, the SmithTweeters, regret to fill you in about the prejudices of your descendants, Dr. Smith. (IV.v.b.11) #WealthOfTweets #SmithTweets
Manufactures were forbidden to sell their wares directly. Farmers were required to. (IV.v.b.12–14) #WealthOfTweets #SmithTweets
That makes corn more expensive, which was the opposite of what the laws intended! Oooooops. (IV.v.b.17) #WealthOfTweets #SmithTweets
American SmithTweeters agree! (IV.v.b.23–26) #WealthOfTweets #SmithTweets
Then he says, “I have no great faith in political arithmetic.”
Moving on. (IV.v.b.27–30) #WealthOfTweets #SmithTweets
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
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
(You should see our international SmithTweeting rates!) (IV.v.b.38) #WealthOfTweets #SmithTweets
https://t.co/dc9Y96eoj0
That's bad.
A country that serves as a storehouse will never starve! (IV.v.b.41–42) #WealthOfTweets #SmithTweets
More from @AdamSmithWorks
Book II of #WealthOfNations! It's all about stock! Not the kind you fill with chicken and noodles, but the kind that (according to #AdamSmith) makes commercial society go 'round. (II.intro)
https://t.co/FlxQLGdjbW
#WealthOfTweets #SmithTweets
First! A quick review: without division of labor, every person must provide everything they need. No one accumulates or stores up stock. You do what you can with what you have when you have it. (II.intro.1) #WealthOfTweets #SmithTweets
But once the division of labor develops (remember, it’s the secret sauce!) we have so many wants that we can’t provide for them all ourselves. Most of them are provided for by others, and we purchase their labor with our own. (II.intro.2) #WealthOfTweets #SmithTweets
Here's why this all matters when we think about stock: we can’t purchase other people’s labor until we have completed (and been paid for) our own. So we need a stock of supplies to sustain us until we can finish our work and get paid. (II.intro.2) #WealthOfTweets #SmithTweets
Obviously, we need that BEFORE we start working in this way. So to get the division of labor you need the accumulation of stock. It’s an ingredient of the secret sauce. (All the best sauces are made with stock!) (II.intro.3)
https://t.co/wi1HtrmBPb
#WealthOfTweets #SmithTweets
https://t.co/FlxQLGdjbW
#WealthOfTweets #SmithTweets
First! A quick review: without division of labor, every person must provide everything they need. No one accumulates or stores up stock. You do what you can with what you have when you have it. (II.intro.1) #WealthOfTweets #SmithTweets
But once the division of labor develops (remember, it’s the secret sauce!) we have so many wants that we can’t provide for them all ourselves. Most of them are provided for by others, and we purchase their labor with our own. (II.intro.2) #WealthOfTweets #SmithTweets
Here's why this all matters when we think about stock: we can’t purchase other people’s labor until we have completed (and been paid for) our own. So we need a stock of supplies to sustain us until we can finish our work and get paid. (II.intro.2) #WealthOfTweets #SmithTweets
Obviously, we need that BEFORE we start working in this way. So to get the division of labor you need the accumulation of stock. It’s an ingredient of the secret sauce. (All the best sauces are made with stock!) (II.intro.3)
https://t.co/wi1HtrmBPb
#WealthOfTweets #SmithTweets
OK. Chapter 7 of Book 4 of #WealthOfNations is tough going. It's long. It's serious. It's all about colonies.
We can take comfort, though, in knowing that the chapter #AdamSmith says is about colonies is, in fact, about colonies. (IV.vii) #WealthOfTweets #SmithTweets
Colonies were a vexed subject when #AdamSmith was writing, and they’re even more complicated now. So, before we even get to the tweeting, here’s a link to that thread on Smith and “savage nations.” (IV.vii) #WealthOfTweets
The reason for the ancient Greeks and Romans to settle colonies was straightforward: they didn’t have enough space for their growing populations. Their colonies were treated as “emancipated children”—connected but independent. (IV.vii.a.2) #WealthOfTweets #SmithTweets
(Both these things are in contrast to the European colonies, as we'll see.) (IV.vii.a.2) #WealthOfTweets #SmithTweets
Ancient Greeks and Romans needed more space because the land was owned by an increasingly small number of citizens and farming and nearly all trades and arts were performed by slaves. It was hard for a poor freeman to improve his life. (IV.vii.a.3) #WealthOfTweets #SmithTweets
We can take comfort, though, in knowing that the chapter #AdamSmith says is about colonies is, in fact, about colonies. (IV.vii) #WealthOfTweets #SmithTweets
Colonies were a vexed subject when #AdamSmith was writing, and they’re even more complicated now. So, before we even get to the tweeting, here’s a link to that thread on Smith and “savage nations.” (IV.vii) #WealthOfTweets
We have to pause now, because we have to have a whole new tweet thread on #AdamSmith and \u201csavage nations,\u201d because he\u2019s going to keep using this kind of phrase, so we need to talk about it. #WealthOfTweets #SmithTweets
— @AdamSmithWorks (@adamsmithworks) January 4, 2021
The reason for the ancient Greeks and Romans to settle colonies was straightforward: they didn’t have enough space for their growing populations. Their colonies were treated as “emancipated children”—connected but independent. (IV.vii.a.2) #WealthOfTweets #SmithTweets
(Both these things are in contrast to the European colonies, as we'll see.) (IV.vii.a.2) #WealthOfTweets #SmithTweets
Ancient Greeks and Romans needed more space because the land was owned by an increasingly small number of citizens and farming and nearly all trades and arts were performed by slaves. It was hard for a poor freeman to improve his life. (IV.vii.a.3) #WealthOfTweets #SmithTweets
More from Law
A Call for Help!
1. we have a petition/open letter for the WHO
https://t.co/Bie8pUy7WJ
2. 372 people signed it but we want to boost it
3. I post link ascomment on related YT videos
Tks @KevinMcH3 for the tip
4. You can help by liking the comments
5. That will increase visibility!
6. Links for YT videos with comments are here
1. China curtails hunt for virus origins
https://t.co/NhcYdtsd2Y
2. China: nearly 500,000 may have been infected in Wuhan
https://t.co/KRUQ5hFrii
3. WHO becomes US-China battleground | DW Documentary
https://t.co/8ah8M8bpiB
4. Gravitas: The 'hidden hunt' for COVID-19 origins
https://t.co/hHhhUqgPYt
5. Seeking the invisible: hunt for origins of deadly Covid-19 coronavirus will take scientists to Wuhan
https://t.co/tCPQqjUZF3
6. WHO team to probe COVID-19 origins in
7. How forensic researchers track down origins of SARS-CoV2
https://t.co/r7A1lkr5li
8. Bats, roadblocks & the origins of coronavirus - BBC
https://t.co/Kh9jacC54t
9. New coronavirus strain is far more infectious and spreading among young - BBC
10. https://t.co/OcpAZ9nrl3
11. https://t.co/OcpAZ9nrl3
12. https://t.co/OcpAZ9nrl3
13. https://t.co/PhmoSfvbD8
14. https://t.co/TsvB7SYN2c
15. https://t.co/0o5YbmiUbJ
16. https://t.co/ir7QiwmlWt
17. https://t.co/PTT3KZDi8F
18.
1. we have a petition/open letter for the WHO
https://t.co/Bie8pUy7WJ
2. 372 people signed it but we want to boost it
3. I post link ascomment on related YT videos
Tks @KevinMcH3 for the tip
4. You can help by liking the comments
5. That will increase visibility!
6. Links for YT videos with comments are here
1. China curtails hunt for virus origins
https://t.co/NhcYdtsd2Y
2. China: nearly 500,000 may have been infected in Wuhan
https://t.co/KRUQ5hFrii
3. WHO becomes US-China battleground | DW Documentary
https://t.co/8ah8M8bpiB
4. Gravitas: The 'hidden hunt' for COVID-19 origins
https://t.co/hHhhUqgPYt
5. Seeking the invisible: hunt for origins of deadly Covid-19 coronavirus will take scientists to Wuhan
https://t.co/tCPQqjUZF3
6. WHO team to probe COVID-19 origins in
7. How forensic researchers track down origins of SARS-CoV2
https://t.co/r7A1lkr5li
8. Bats, roadblocks & the origins of coronavirus - BBC
https://t.co/Kh9jacC54t
9. New coronavirus strain is far more infectious and spreading among young - BBC
10. https://t.co/OcpAZ9nrl3
11. https://t.co/OcpAZ9nrl3
12. https://t.co/OcpAZ9nrl3
13. https://t.co/PhmoSfvbD8
14. https://t.co/TsvB7SYN2c
15. https://t.co/0o5YbmiUbJ
16. https://t.co/ir7QiwmlWt
17. https://t.co/PTT3KZDi8F
18.
This issue was repeatedly highlighted bu Judge Totenberg:
Dominion’s system “does not produce a voter-verifiable paper ballot or a paper ballot marked with the voter’s choices in a format readable by the voter because the votes are tabulated solely from the unreadable QR code.”
Judge also found that Dominion's QR codes are NOT encrypted:
“Evidence plainly contradicts any contention that the QR codes or digital signatures are encrypted,”
This was “ultimately conceded by Mr. Cobb and expressly acknowledged later by Dr. Coomer during his testimony.”
Judge Totenberg said there was “demonstrable evidence” that the implementation of Dominion’s systems by Georgia placed voters at an “imminent risk of deprivation of their fundamental right to cast an effective vote,” which she defined as a “vote that is accurately counted.”
Judge Totenberg found that Dominion Systems inherently could not be audited.
She noted that auditors are severely limited and “can only determine whether the BMD printout was tabulated accurately, not whether the election outcome is correct.“
Totenberg stated in her ruling that a BMD printout “is not trustworthy” and the application of an Risk-Limiting audit (RLA) to an election that used BMD printouts “does not yield a true risk-limiting audit.”
Georgia used RLAs to claim no fraud...
Dominion’s system “does not produce a voter-verifiable paper ballot or a paper ballot marked with the voter’s choices in a format readable by the voter because the votes are tabulated solely from the unreadable QR code.”
Witness explaining that on electronic ballots (QR code ballots), it's impossible to determine voter intent. The machine decides the intent, whereas, with paper ballots, a human can double-check the ballot. https://t.co/kkhamio2Je
— The Election Wizard (@Wizard_Predicts) December 30, 2020
Judge also found that Dominion's QR codes are NOT encrypted:
“Evidence plainly contradicts any contention that the QR codes or digital signatures are encrypted,”
This was “ultimately conceded by Mr. Cobb and expressly acknowledged later by Dr. Coomer during his testimony.”
Judge Totenberg said there was “demonstrable evidence” that the implementation of Dominion’s systems by Georgia placed voters at an “imminent risk of deprivation of their fundamental right to cast an effective vote,” which she defined as a “vote that is accurately counted.”
Judge Totenberg found that Dominion Systems inherently could not be audited.
She noted that auditors are severely limited and “can only determine whether the BMD printout was tabulated accurately, not whether the election outcome is correct.“
Totenberg stated in her ruling that a BMD printout “is not trustworthy” and the application of an Risk-Limiting audit (RLA) to an election that used BMD printouts “does not yield a true risk-limiting audit.”
Georgia used RLAs to claim no fraud...
