Skip to content

Adam Smith Joke

by on April 20, 2013

In 1780, Adam Smith, a psychopath, and an economist from the future had drinks together.

Economist: “Division of labour rocks, Adam, here’s to you!”

Adam Smith: “But if it get’s too monotonous, people could burn out; the state must intervene.”

So the psychopath steals the time machine and becomes Reagan’s economics advisor.



Explanation: market fundamentalists are well-trained to “worship Adam Smith, but not read him” (Chomsky).
“Liberally paid by the piece, [workers] are very apt to overwork themselves, and to ruin their health and constitution in a few years.
(Adam Smith)


The way out (seriously):

1. make sure that…

socioeconomic human rights: “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.

…are not just a letter to Santa Claus!


3. just say NO

…if a job is unpleasant. The price will go up. (And remember: after point 1, you can afford to say No.)

Also say No if it’s something you love, but the conditions are bad.

This would create a genuine free market for labour.
Wages and value would match up.

Hint: there’s a name for withholding labour in order to help wages adjust to its real value: STRIKE!

From → Jokes

One Comment

Trackbacks & Pingbacks

  1. Too big to scale | Banks need Boundaries

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: