Friday, May 20, 2005

Only in America: Idiocy of the Month!

America is famous for the widespread notion that Adam Smith proclaimed the “invisible hand” as the driving force of capitalism. At Lost Legacy we try to combat this distortion of his views – he never knew capitalism nor did he invoke the invisible hand metaphor into a maxim for markets.

However, there is no end to the extremes in everything that America cannot visit. Denise Cray, of (!) has managed to link the experience of a young woman in a failed relationship arranged by a dating agency to Adam Smith’s “Wealth of Nations” and the invisible hand!

I know it is nuts but it shows how far we have to go to rescue Adam Smith’s Lost Legacy from those who have purloined it. Take a look at what Denise writes (

“Case in point, an excerpt from an unforgettable true story we received on 09/01/2004. “I subscribed to in September of 2003. I was, like many other men and women, looking for a suitable spouse. Less than a year ago I met and married a man in Texas through [a US dating agency] and proceeded to 'fall in love for all the right reasons' which I just wanted a good husband. He has damaged my home, and severely jeopardized my financial stability, which was my inheritance as I have been left flat with nothing. I have not heard from him in over a month and I do not know where he is. I am also humiliated.”

Adam Smith (writes Denise) would have agreed that passion is the invisible hand. Adam Smith’s historical quote “he (man) intends only his own gain, and he is in this, as in other cases, led by an invisible hand to promote an end which was no part of his intentions”. No scientific method can take the credit for building successful relationships.”

No, I did not make it up.


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