“I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill.”

“Karl Marx and Adam Smith both subscribed to this view. They both saw successful growth as dependent on the development of efficient property rights. Their followers appear in the main to have forgotten this.”

“What private property does is connect effort to reward,
creating an incentive for people to produce more.
Then, if there's a free market,
people will trade their surpluses to each other for the things they lack.
Mutual exchange for mutual benefit makes the community richer.”

“If the existence of bullshit jobs seems to defy the logic of capitalism, one possible reason for their proliferation might be that the existing system isn’t capitalism—or at least, isn’t any sort of capitalism that would be recognizable from the works of Adam Smith, Karl Marx, or, for that matter, Ludwig von Mises or Milton Friedman.”

“[Roger B. Smith] identified the following skills and mental processes required of today’s managers as those acquired and sharpened in the study of the liberal arts.”

“Adam Smith is, of course, justly lauded for his advocacy of free markets and limited government. Particularly famous is his idea that each person’s pursuit of self-interest leads, as if by an invisible hand, to socially efficient outcomes.”

“I'm totally aware of how lucky I am. I have health, family, children. I do work that gives me total joy and allows me to make a living, and maybe, if I'm lucky enough, I'll feel I've fulfilled a little bit of service to society because I brought other people some laughter.”

“The entire thrust of neoclassical thought is to argue that the free market economy is an efficient system that will optimize utility for all mankind, if only government will get out of the way. It therefore departs from classical economists such as Adam Smith, who recognized the importance of governments for regulating markets and preventing monopolies.”

“The free market punishes irresponsibility. Government rewards it.”

“Smith was being realistic-if you give people something before they are ready [for it] they are going to mess it up. And that has happened. If he had had the opportunity to work with the people [and] help bring them up, Zimbabwe would be a better place now. Smith did make it better during his government. There is no reason why he could not do that if he had been allowed to go on.”