Chris Dillow — Adam Smith’s two economies

Summary:
Adam Smith thought there were two economies – meritocratic for the poor and powerless and anti-meritocratic for the powerful. There is also a legal double-standard of justice reflecting this. Steal a hundred go to jail; steal a million, get promoted. Accountability is inversely proportional to status? Stumbling and MumblingAdam Smith's two economiesChris Dillow | Investors Chronicle

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Mike Norman considers the following as important: Adam Smith, double standard

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