Political Extracts
Posts in The Copybook tagged ‘Political Extracts’
Adam Smith asks employers to pay the most generous wages their finances will allow.
Adam Smith would not have liked the so-called Living Wage. ‘Law can never regulate wages properly,’ he wrote, ‘though it has often pretended to do so.’ But he did like generous wages, out of hard-headed business sense - an argument much more likely actually to raise wages than merely cost jobs.
Adam Smith encourages employers to restrict working hours to reasonable limits, for humanity and for profit.
Adam Smith urges employers not to tempt their employees to overwork. It leads to burn-out and a loss of productivity; and in the worst case scenario, the grasping employer must invest wholly avoidable time and money in training up a replacement.
As a last, desperate throw of the dice in the Great War, the Germans detonated an unusual kind of weapon in St Petersburg.
At the height of the Great War, beleaguered Britain’s trusty ally Tsar Nicholas II of Russia was forced from his throne. Would the new Russian Government support the Allies? Some were naive enough to think so, but as Winston Churchill explained, the Germans had yet another deadly weapon in their arsenal.
A nation with its own laws and a strong sense of shared cultural identity makes good economic sense.
Adam Smith argues that preferring to live in a sovereign nation, with a strong sense of shared cultural identity and well-drafted, homemade laws, is not a matter of prejudice. It is a matter of sound economic reasoning, for every country of the world.
Adam Smith warns that politicians are the last people who should lecture the public about how to run their affairs.
Adam Smith, the pioneering Scottish economist, objected very strongly when politicians criticised the public for their spending habits. Private individuals alone actually create wealth, he said. By definition, Governments spend other people’s money and never make a penny in return.
J. S. Mill argues that free trade has done more to put an end to war than any political union or military alliance.
Many religions and political ideologies promise prosperity and an end to war, but on closer inspection there is a price to pay: all must submit, or be punished. But for Victorian philosopher J. S. Mill, great progress had already been made by sovereign nations sharing trade ungrudgingly – we need only to widen our horizons.