#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
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
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
