Friday, February 02, 2007
Today's Ramble - 2/2/07
Adam Smith, the "father" of free market economics, stated the following :
"In what constitutes the real happiness of human life, the poor are in no respect inferior to those who would seem so much above them. In ease of body and peace of mind, all the different ranks of life are nearly upon a level, and the beggar, who suns himself by the side of the highway, possesses that security which kings are fighting for."
It's ironic, but Adam Smith understood that wealth does not preceed happiness. Even though he was a proponent of progress through free market capitalism, he understood that it was not necessarily a pathway to happiness. Perhaps what he did not understand was how humans would be convinced that their happiness was dependent upon their level of wealth.