Re:What America looked like before the EPA, in photos
by da_chicken on Friday March 16, 2018 @08:27AM
(#16600147)
That second one is a bit... unclear. I think it's the 18th century grammar and its propensity for a dozen clauses. However, it seems to contradict the generally held belief that the poor have a much higher marginal propensity to consume than the rich do.
Re:What America looked like before the EPA, in photos
by ianai on Friday March 16, 2018 @09:02AM
(#16600337)
No, he’s saying exactly that they (the non-rich) have both a higher marginal propensity to consume and thus the wealth of a nation grows much faster with their income growth. But undoubtedly, he nestled it in crazy grammar.
Re:What America looked like before the EPA, in photos
by da_chicken on Friday March 16, 2018 @04:15PM
(#16603694)
I'll take your word for it. I keep getting turned around in the middle!
Re:What America looked like before the EPA, in photos
by ianai on Friday March 16, 2018 @04:33PM
(#16603834)
He’s using the word “they” confusingly there. It’s clear from the rest of the book that he means the wealth of nations follows the wealth of the non-rich.
Re:What America looked like before the EPA, in photos
by da_chicken on Friday March 16, 2018 @08:19PM
(#16604928)
Right, that's why I was so confused. I know the jist of Smith's work and this kept tripping me up.
Quote:”What improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”
And:“[The rich] consume little more than the poor, and in spite of their natural selfishness and rapacity…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.”
https://www.adamsmith.org/adam-smith-quotes/