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Adam Smith died in 1790, a time when the world had little experience with free markets. He was a pioneer in economic thought, but that doesn't automatically mea
by WalterBright 2y ago
Adam Smith died in 1790, a time when the world had little experience with free markets. He was a pioneer in economic thought, but that doesn't automatically mean all of his prognostications about the future are correct.
- PaulDavisThe1st 2y agoHis prognostications were not necessarily considered by him to be "about the future". Smith believed that most of what he was writing was about things that were true for all time. He may (or may not) have been wrong about that, just as he may have been wrong about any of the specific things he wrote. But he was generally not predicting the future in any real sense.
- mmooss 2y ago> Smith believed that most of what he was writing was about things that were true for all time. Theory is incredible - when it's right, it's right everywhere for all time. I don't know why people disparage it (other than to signal their anti-intellecutallism).