Adam Smith in one sentenceMay 2, 2009 Tim WorstallEconomics2 Comments He describes meticulously that which is – and not so much that which should be. previousIn which I am reamed a new onenextSocialism in one sentence 2 thoughts on “Adam Smith in one sentence” Mark Wadsworth May 2, 2009 at 10:20 am Hurray! Any argument based on ‘should’ is usually deeply flawed, it is far better to look at what ‘is’ (whether you like it or not). John Fembup May 2, 2009 at 12:52 pm From Machiavelli’s The Prince ” . . .how we live is so different from how we ought to live that he who studies what ought to be done rather than what is done will learn the way to his downfall rather than to his preservation.” Or perhaps more simply but no less aptly, Mark Twain advice to “get the facts first – you can distort them later.” Either way – it’s first essential to know “what is” – not what one hopes or wishes to be true, or what one thinks “should” be true. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.