re: #168 Targetpractice

Too many of them think that Adam Smith was an advocate of an unregulated “free market,” when in reality he was anything but. He was actually a supporter of government regulation on the market, as he understood that left to its own devices the “free market” would cannibalize its customers in the pursuit of profit.

The one AS quote they ignore is that “Markets exist to serve the people, people do not exist to serve the markets.”

Markets are a means to balance supply and demand, and direct capital to where it is most beneficial. Profits are a means to an end, not an end in themselves.