Monday, September 17, 2007

Somebody Called Larry Kudlow on Adam Smith

In the Nationalreviewonline, 17 September there is an article: 'how about Reagan and Thatcher' by Larry Kudlow here:

"But the real hero of the last couple of decades is undoubtedly the triumph of free-market capitalism around the world. Krishna Guha of the Financial Times is the only one to have picked this up. He captures this nicely in his book review of The Age of Turbulence. Give credit to Adam Smith’s “invisible hand” and Joseph Schumpeter’s “gales of creative destruction” for making Alan Greenspan’s Fed job a lot easier.

I am not sure who Larry Kudlow is or what he is about, but if he believes in the version of the ‘invisible hand’ represented here then he is not likely to know much about the Adam Smith who was born in Kirkcaldy in 1723.


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