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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (795247)7/16/2014 6:51:47 PM
From: combjelly1 Recommendation

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tejek

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I really can't find any evidence that Jefferson differentiated between the "fruits of labor" and "lots of fruits of labor," which is what capital is

If nothing else, Jefferson was a fan of Adam Smith and Adam disliked rentiers, they are a drain on the market, and wealth concentrations because they skew markets and make it inefficient. Adam Smith's ideal was high wages and low profit margins, that being the most efficient arrangement in his view.

But, let TJ speak for himself.

In this respect England exhibits the most remarkable phaenomenon in the universe in the contrast between the profligacy of it’s government and the probity of it’s [44] citizens. And accordingly it is now exhibiting an example of the truth of the maxim that virtue & interest are inseparable. It ends, as might have been expected, in the ruin of it’s people, but this ruin will fall heaviest, as it ought to fall on that hereditary aristocracy which has for generations been preparing the catastrophe. I hope we shall take warning from the example and crush in it’s birth the aristocracy of our monied corporations which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country.

oll.libertyfund.org
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