Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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-The Hindu&lt;br /&gt;
&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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-The Hindu

The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Hindu&lt;br /&gt;&lt;br /&gt;The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;&lt;br /&gt;Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;&lt;br /&gt;Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;&lt;br /&gt;The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot; title=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The..."/>
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                <div align="justify">-The Hindu<br /><br />The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.<br /><br /><em>Favouring liberal capitalism<br /></em><br />Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.<br /><br />Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &ldquo;for promoting the instruction of the people&rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &ldquo;for protecting society from the violence and invasion of other independent societies&rdquo;.<br /><br />The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.<br /><br />Modern appropriators of Smith also make abundant use of the &ldquo;invisible hand&rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.<br /><br />The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &ldquo;All the members of human society stand in need of each other&rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true">click here</a> to read more. <br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f0a9ec2811c-trace').style.display = (document.getElementById('cakeErr67f0a9ec2811c-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f0a9ec2811c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f0a9ec2811c-code').style.display = (document.getElementById('cakeErr67f0a9ec2811c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f0a9ec2811c-context').style.display = (document.getElementById('cakeErr67f0a9ec2811c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f0a9ec2811c-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-The Hindu&lt;br /&gt;
&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Hindu&lt;br /&gt;&lt;br /&gt;The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;&lt;br /&gt;Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;&lt;br /&gt;Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;&lt;br /&gt;The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot; title=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-The Hindu&lt;br /&gt;
&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;
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-The Hindu

The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The..."/>
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                <strong>Why Adam Smith favoured public education -Alex M Thomas</strong></h1>
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                <div align="justify">-The Hindu<br /><br />The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.<br /><br /><em>Favouring liberal capitalism<br /></em><br />Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.<br /><br />Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &ldquo;for promoting the instruction of the people&rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &ldquo;for protecting society from the violence and invasion of other independent societies&rdquo;.<br /><br />The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.<br /><br />Modern appropriators of Smith also make abundant use of the &ldquo;invisible hand&rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.<br /><br />The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &ldquo;All the members of human society stand in need of each other&rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true">click here</a> to read more. <br /></div>               </font>
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-The Hindu&lt;br /&gt;
&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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		&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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-The Hindu

The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Hindu&lt;br /&gt;&lt;br /&gt;The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;&lt;br /&gt;Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;&lt;br /&gt;Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;&lt;br /&gt;The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot; title=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-The Hindu&lt;br /&gt;
&lt;br /&gt;
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;
&lt;br /&gt;
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;
&lt;br /&gt;
Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;
&lt;br /&gt;
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;-The Hindu, 10 January, 2019, https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&#039;,
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-The Hindu

The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Hindu&lt;br /&gt;&lt;br /&gt;The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&amp;rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Favouring liberal capitalism&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.&lt;br /&gt;&lt;br /&gt;Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &amp;ldquo;for promoting the instruction of the people&amp;rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &amp;ldquo;for protecting society from the violence and invasion of other independent societies&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.&lt;br /&gt;&lt;br /&gt;Modern appropriators of Smith also make abundant use of the &amp;ldquo;invisible hand&amp;rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.&lt;br /&gt;&lt;br /&gt;The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &amp;ldquo;All the members of human society stand in need of each other&amp;rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&amp;rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot; title=&quot;https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The..."/>
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                <strong>Why Adam Smith favoured public education -Alex M Thomas</strong></h1>
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                <div align="justify">-The Hindu<br /><br />The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.<br /><br /><em>Favouring liberal capitalism<br /></em><br />Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.<br /><br />Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &ldquo;for promoting the instruction of the people&rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &ldquo;for protecting society from the violence and invasion of other independent societies&rdquo;.<br /><br />The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.<br /><br />Modern appropriators of Smith also make abundant use of the &ldquo;invisible hand&rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.<br /><br />The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &ldquo;All the members of human society stand in need of each other&rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true">click here</a> to read more. <br /></div>               </font>
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-The Hindu<br />
<br />
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.<br />
<br />
<em>Favouring liberal capitalism<br />
</em><br />
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.<br />
<br />
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &ldquo;for promoting the instruction of the people&rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &ldquo;for protecting society from the violence and invasion of other independent societies&rdquo;.<br />
<br />
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.<br />
<br />
Modern appropriators of Smith also make abundant use of the &ldquo;invisible hand&rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.<br />
<br />
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &ldquo;All the members of human society stand in need of each other&rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.<br />
<br />
Please <a href="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true">click here</a> to read more. <br />
</div>',
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The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The...',
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-The Hindu<br />
<br />
The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist.<br />
<br />
<em>Favouring liberal capitalism<br />
</em><br />
Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce.<br />
<br />
Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions &ldquo;for promoting the instruction of the people&rdquo; is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility &ldquo;for protecting society from the violence and invasion of other independent societies&rdquo;.<br />
<br />
The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks.<br />
<br />
Modern appropriators of Smith also make abundant use of the &ldquo;invisible hand&rdquo; metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts.<br />
<br />
The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: &ldquo;All the members of human society stand in need of each other&rsquo;s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.&rdquo; Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts.<br />
<br />
Please <a href="https://www.thehindu.com/opinion/op-ed/why-adam-smith-favoured-public-education/article25952878.ece?homepage=true">click here</a> to read more. <br />
</div>',
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-The Hindu

The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith&rsquo;s The...'
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Why Adam Smith favoured public education -Alex M Thomas

-The Hindu The authority of Adam Smith is frequently invoked by supporters of the free market, who argue for extending the market forces to all conceivable goods and services and eliminating any kind of government intervention in markets. However, Smith’s The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations make it clear that he was not a laissez faire or free market capitalism apologist. Favouring liberal capitalism Smith favoured liberal capitalism over the extant socio-economic arrangement (elements of feudalism and mercantilism). While feudalism was characterised by the rule of the nobility/landowners, mercantilism was characterised by state monopoly over trade. The East India Company was an example of the latter. It is in this historical context that Smith called for the state to withdraw its monopolistic interventions in both external and internal commerce. Contrary to public opinion, Smith presupposed the government provision of legal infrastructure, defence, transport infrastructure and education for the proper functioning of liberal capitalism. For him, the responsibility of providing institutions “for promoting the instruction of the people” is one of the chief duties of the state. The state, he said, must undertake this responsibility just as it accepts responsibility “for protecting society from the violence and invasion of other independent societies”. The appropriators of Smith also forget his telling commentary on the role of power in society. One aspect of this relates to the power employers have over workers. The second aspect relates to the inequality of power, expressed in the form of status and ranks. Modern appropriators of Smith also make abundant use of the “invisible hand” metaphor. But Smith used this metaphor only once in Wealth of Nations, and twice in his other writings in different contexts. The self-interested individual in the Wealth of Nations is embedded, as it were, in the society Smith described in The Theory of Moral Sentiments, which is characterised by good moral sentiments: “All the members of human society stand in need of each other’s assistance, and are likewise exposed to mutual injuries. Where the necessary assistance is reciprocally afforded from love, from gratitude, from friendship, and esteem, the society flourishes and is happy.” Indeed, the Wealth of Nations and The Theory of Moral Sentiments are complementary texts. Please click here to read more.