Adam Smith News
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The U.S. House passed a defense policy bill for the 2014 fiscal year that would authorize $638 billion in discretionary, mandatory and war spending by the Defense Department and related agencies.
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Effective or not, bailouts somehow seem unjust. Why use taxpayer money to save the companies that actually caused the meltdown, the banks that made the reckless loans, and insurance companies that wrote too many credit- default swaps? More broadly, why save the state and local governments that offered overly generous pensions? Or auto companies too fat and lazy to match foreign competitors? They deserve to suffer the consequences of their behavior.
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Economists rave about the power of the market to deploy productive resources better than any central planner possibly could. A mysterious process, which Adam Smith called the “invisible hand,” guides countless individuals with conflicting aims to somehow coordinate into a remarkably effective economic organization. Usually.
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More than a century and a half after it was published, Alexis de Tocqueville’s “The Old Regime and the Revolution” has become an unlikely best-seller in China.
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After two women trying to inoculate Pakistani children against polio were shot this week, some news accounts were quick to place blame: “Anti-polio workers started being attacked after a Pakistani doctor, Shakeel Afridi, ran a fake polio campaign in the city of Abbottabad to help the United States track down Osama bin Laden,” reported NBC News. The World Health Organization, which employed the women -- one of whom died -- reports that 18 of its workers or their bodyguards have been slain since last July.
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Galleon Group LLC made money when company revenue figures differed from the Wall Street consensus by using insider tips as an “edge,” a former portfolio manager testified at his ex-boss’s trial.
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An interview with John Mackey, co-CEO of Whole Foods Market and coauthor of Conscious Capitalism: Liberating the Heroic Spirit of Business. Download this podcast...
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Adam Smith , the Scottish academic who fathered the dismal science, is a biographer’s nightmare.
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The storm that’s slowly rolling toward Indianapolis quietly gained strength this week with the filing of several devastating documents in a federal court in California. If it stays on course, it’s going to hit with biblical force, reducing the National Collegiate Athletic Association to a heap of rubble.
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The 18th-century founder of modern capitalism was Adam Smith, not the Marquis de Sade.
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