Friday, June 16, 2017

ETHICS OF ATTRIBUTING FALSE IDEAS TO ADAM SMITH

WILLIAMS-M4 posts (14 June) in  Business Ethics HERE
This argues that instead of accounting for a living wage it would serve third world countries better if developed countries removed trade barriers and relaxed immigration restrictions. This improvement, according to Adam Smith, would come from the  the concept of the invisible hand mentioned in our book. “Each person’s individual and private pursuit of wealth results in the most beneficial overall organization and distribution of economic resources.” -Shaw. If developed countries allow this, you noticed reaped benefits on both sides and, given time, a decrease in the number of sweatshops in third world countries. First though, developed countries must allow third world countries to progress through developmental struggles so they can acquire capital and technology.”
COMMENT
It is not ethical to attribute an alleged inaccurate and untrue quotation to a named person which is in fact a complete fabrication.
Adam Smith NEVER said or wrote what is attributed to him by Williams-M4 above:
This improvement, according to Adam Smith, would come from the  the concept of the invisible hand mentioned in our book. “Each person’s individual and private pursuit of wealth results in the most beneficial overall organization and distribution of economic resources.” 
The words “invisible hand’” when used by Adam Smith (only once in Wealth of Nations (1776) and in all of its 5 editions to 1789) were a metaphor not a “concept”, nor were they a general statement as asserted by “Williams-M4” in a publication, laughingly called in this context: “Business Ethics”!
There is nothing ethical in purveying direct untruths, especially when easily verifiable, by consulting Adam Smith’s Works.

Shame on those reponsible for ‘Business Ethics’…

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