May 28, 2011

For Capitalism to Work Government Must Umpire!

Capitalism 4.0 is really Adam Smith capitalism with government playing its role of umpire as envisioned by Adam Smith and Milton Friedman.

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‘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.’ (Adam Smith, The Wealth of Nations, 1776).

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