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[...] Sometimes when I’ve having an extremely boring phone call, I try to calculate how many centuries I’d have to live in order to read the urgent books if I were to read twenty-four hours a day, seven days a week at some speed reading pace. It’s pretty depressing. So the answer to your question i…

The other part of the story is the development of corporations, which is an interesting story in itself. Adam Smith didn’t say much about them, but he did criticize the early stages of them. Jefferson lived long enough to see the beginnings, and he was very strongly opposed to them. But the develop…

[...] He’s pre-capitalist, a figure of the Enlightenment. What we would call capitalism he despised. People read snippets of Adam Smith, the few phrases they teach in school. Everybody reads the first paragraph of The Wealth of Nations where he talks about how wonderful the division of labor is. Bu…

[...] none of these people believe in a free market or anything remotely like it. They want a powerful welfare state, directing resources and protection to them. So on the one hand you have a powerful welfare state for a small sector of the population. For the rest, those who you need to do the dir…

[...] The Gingrich program has several aspects to it. He wants to focus on what he calls “cultural issues.” That makes sense, because when you’re going to rob people blind you don’t want to have them focus their attention on economic issues. The second is the actual programs, robbing people blind a…