DO WE LIVE IN AN ORDERLY WORLD?

Adam Smith was absolutely brilliant in his time. Some of his prescriptions continue to inform capitalism’s best practices. Others however do not. Orderliness heads this list.

For an enabling world view, Smith borrowed from the great physical scientist Isaac Newton who was enamored with orderliness, for instance in the orderly way planets in our solar system revolve around the sun. For Smith and other classical economists, Newton’s world view was manifested in presumed equality between household saving and business investment. No leakage out of saving was permitted in the classical intellectual system.

~ Jim Sawyer