In yesterday’s discussion of colonies, #AdamSmith was really good on a lot of issues—particularly on condemning murdering Indigenous people, despoiling colonies in search of gold that ain't there, and then pretending you're doing it all for God. #WealthOfTweets #SmithTweets
That phrase “give place to” cloaks a lot of horrors. (IV.vii.b.1) #WealthOfTweets #SmithTweets
Workers + land + money ➡ kids!
And more people ➡ prosperity. (IV.vii.b.2–3) #WealthOfTweets #SmithTweets
Other European colonies were less immediately splendid. Being less immediately splendid helped with the independence. (IV.vii.b.7) #WealthOfTweets #SmithTweets
https://t.co/7l6vzHdlm5
Like. Sure. But MAN. He couldn't have said that about the triangular trade?! Especially since he compares these restrictions to slavery. (IV.vii.b.44) #WealthOfTweets #SmithTweets
Politically, they're independent: local legislatures, representative government, non-tyrannical executives. (IV.vii.b.50–51) #WealthOfTweets #SmithTweets
Smith does not like slavery. He’s opposed for moral and economic reasons.
But he does need to analyze it. (IV.vii.b.54) #WealthOfTweets #SmithTweets
English planters, having more liberty, used it to be awful. (IV.vii.b.54) #WealthOfTweets #SmithTweets
On both counts, this is where the focus on freedom in the English colonies is a bad thing. (IV.vii.b.54–55) #WealthOfTweets #SmithTweets
They were begun in folly and injustice and led to the destruction of harmless peoples. (IV.vii.b.58–59) #WealthOfTweets #SmithTweets
No points awarded for war and persecution. #Good (IV.vii.b.61–62) #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
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
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
More from Society
1/ One year of destroyed economies, social isolation & deep social splits calls for an anniversary ⬇️thread ⬇️ to celebrate the RT-qPCR manuscript by Christian Drosten (@c_drosten) & Victor Corman (@vmcorman), submitted on 21st Jan 2020 to @Eurosurveillanc. #UnbiasedScience
2/ Before this very publication, virologists were neither treated like superstars, nor were they considered icons or half-gods. In 2009, Drosten almost succeeded in installing the false premise virology could supersede holistic medical sciences as discussed in this thread.
3/ Drosten is a virologist. He neither has any background in epidemiology, nor has he ever worked in the civil service. He also doesn’t have a background in public health. Yet he and his colleagues affect our daily lives to the level of whom to meet up or how to flush the toilet.
4/ Before January 2020, Drosten and Corman were common virologists at Charité Berlin, whenever they were not involved in economic implications (https://t.co/UTDwG8U7Du). Other than that, they looked at coronaviruses in dromedary calves in the Middle East or Africa. 😍 #cute
5/ Finally in Jan 2020, the published paper laid the theoretical grounds for the current pandemic, the RT-qPCR mass testing-religion, for which he was awarded his second German Federal Cross of Merit (he received the first one in 2005 for developing the SARS-CoV PCR test).
2/ Before this very publication, virologists were neither treated like superstars, nor were they considered icons or half-gods. In 2009, Drosten almost succeeded in installing the false premise virology could supersede holistic medical sciences as discussed in this thread.
3/ Drosten is a virologist. He neither has any background in epidemiology, nor has he ever worked in the civil service. He also doesn’t have a background in public health. Yet he and his colleagues affect our daily lives to the level of whom to meet up or how to flush the toilet.
4/ Before January 2020, Drosten and Corman were common virologists at Charité Berlin, whenever they were not involved in economic implications (https://t.co/UTDwG8U7Du). Other than that, they looked at coronaviruses in dromedary calves in the Middle East or Africa. 😍 #cute
5/ Finally in Jan 2020, the published paper laid the theoretical grounds for the current pandemic, the RT-qPCR mass testing-religion, for which he was awarded his second German Federal Cross of Merit (he received the first one in 2005 for developing the SARS-CoV PCR test).