Do conservatives still believe in that "invisible hand" baloney?

Question

Adam Smith didn't trust businessmen;

"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." - Wealth of Nations

"The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who belive themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back."
-- John Maynard Keynes

Who said I was arguing about the welfare state? Jeeesh, talk about out of context.

Answer 1

HUH? What hand is that? Is it the left on or the right? I don't trust the left one lol

Answer 2

Yes, Smith did not like the concept of corporations and felt that monopolies should be prevented. That being said, he did believe the free market system was in the best interest of society. You have to understand that the alternative to the "invisible hand" he was arguing against was mercantilism/monopoly capitalism, not the modern welfare state. "The Wealth of Nations" is a very good book, but please don't take things out of context-those who argue that Smith would reject the welfare state out of hand are making the same mistake.

Answer 3

In some way or the other, no matter how small, the invisible hand does guide our actions; whether we want to acknowledge it or not.

Answer 4

Ok Mr. Progressive. Look in your driveway and appreciate the SUV you have; Reagan did that.