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Will the real Kevin Rudd please stand up? : Comments
By Peter Costello, published 18/5/2007Is Kevin Rudd (in his words) an 'old-fashioned Christian socialist' or (also in his words) an 'economic conservative'?
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Pity it is only the fruitcake academics that have the knowledge to point out that it was Adam Smith, the father of Laizey-faire, or the modern free-market, who warned that though the business entrepreneurs need a free go, it still does not mean that governments can idle their time away.
1. The free go also does not mean that the dealers should keep all the profits.
2. Though the government does need a good share of the profits, it is the governments role not only to see that the whole proletariat gains by the process of Laizey-faire, but also the establishment.
What Adam Smith meant was that too much money put away like a miser, as the government only allows money for factories, like a farmer and his family living in hovels for the rest of their lives while making fortunes, the government istead must look to advancing the infrustructure not only for public and business benefit, but also in regard to national pride.
Sorry about old pap lessons from history, but the point is that Smith was also a philosopher as well as an economist.
It is also interesting that the above kind of history is used in a Uni' humanities course called The Changing Political Economy, which has been going now for a few years, keeping itself up to date, as the years roll on.
One wonders whether both Howard and Costello care much about it, the way we have neglected our infrustructure, including educational facilities, which desperately includes the knowledge needed to keep Australia productive when our colonial-style pitstocks run out.