...there are no two points of view more antithetical than classical liberalism and capitalism -- and that's why when the University of Chicago publishes a bicentennial edition of Smith, they have to distort the text (which they did): because as a true classical liberal, Smith was strongly opposed to all of the idiocy they now sprout in his name.
About this quote
- What does it mean?
- The author claims classical liberalism differs from capitalism and that Smith was opposed to modern corporate capitalism.
- In plain terms
- Adam Smith opposed capitalism, though universities publish distorted versions of his work.
- What can you take from it?
- Classical liberal texts may be misused to support modern capitalism.
Where it applies
Putting it to work
Questions to consider
- What did Smith really believe?
- How are texts used politically?
Another view
The interpretation of Smith is debated among scholars.
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