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Stephen A. Cullum's avatar

I have read Adam Smith's " The Wealth of Nations". It is a very large book. While centuries old it is still relevant. It refutes a lot of economic thinking that is today falsely called conservative. He was labeling the move from feudalism to market driven economics now called capitalism. What a lot not all of the donor class want is a move back to feudalism. A system where a few own everything and everyone else. Thanks but no thanks. If you actually read what Smith said, you know real capitalism is joined at the hip to a strong government and it's regulations. For trust for exchanges to happen you need the government to guarantee property rights and enforcements of agreements. You also need a currency that is stable which only a strong central bank can do. To keep markets open you need regulations and a government strong enough to enforce them. As Smith explain markets tend to monopiles . The seeds of destruction are inherited in capitalism. In my view the culture war is to distract the masses while the system is gigger more and more to feudalism.

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Mike S's avatar

“Innocent until proven guilty” is such a cheap, cynical deflection.

Of course that’s the case in a court of law.

Applied to politics, it implies that only convictions can be used to judge someone’s character and fitness for office (i.e. by a voter), or to hold an elected official accountable for misbehavior.

Trumpist Corollary - anything short of a criminal conviction is “exoneration”.

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