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The [[JC]]’s elaborate theory of how the entire [[free market]] system functions so effectively is this: It happens more or less ''by accident''. This is not original, by the way. This was Adam Smith’s original point, in 1737. | The [[JC]]’s elaborate theory of how the entire [[free market]] system functions so effectively is this: It happens more or less ''by accident''. This is not original, by the way. This was Adam Smith’s original point, in 1737. | ||
{{quote|“...Though the sole end which they propose from the labours of all the thousands whom they employ, be the gratification of their own vain and insatiable desires, they divide with the poor the produce of all their improvements...They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, ''and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species''”<ref> ''The Theory of Moral Sentiments'' (1759) Part IV, Chapter 1.</ref>}} | {{quote|“...Though the sole end which they propose from the labours of all the thousands whom they employ, be the gratification of their own vain and insatiable desires, they divide with the poor the produce of all their improvements...They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, ''and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species''”<ref> ''The Theory of Moral Sentiments'' (1759) Part IV, Chapter 1. (Emphasis added).</ref>}} | ||
{{sa}} | {{sa}} | ||
*[[Stakeholder capitalism]] | *[[Stakeholder capitalism]] | ||