Adam Smith On Conceit, Central Planning, And Disorderly Society

Sunday, July 22, 2012
By Paul Martin

by Tyler Durden

Perhaps it is worth a reminder that, while every effort by the Central-Banker-In-Chief and his political play-things to proclaim free-market omnipotence in stark contrast to the wholesale manipulation of any and every market and macro-economic lever possible, Adam Smith some 250 years ago pointed out the inevitable unintended consequences of such grand conceit. As the [central planner] seems to “imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board”, the end result is that “society must be at all times in the highest degree of disorder.”

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