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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
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22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
09 August 2017 | Pago Pago, American Samoa

A Man Ahead of His Time: Adam Smith

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
It is Adam Smith's birthday. He is clearly the founder of analytical economics in my view and he systematized the classical macroeconomic model, many parts of which we all still use today. His book, An Inquiry into the Wealth of Nations was published in 1776 and was a great success. The intellectual world was so small then, he was reluctant to speak about the contents of his book publically for fear it would cuts into its sales.

Like most well informed about the business world, Smith had a low opinion about the honesty and trustworthiness of businessmen.
Again and again, Smith warned of the collusive nature of business interests, which may form cabals or monopolies, fixing the highest price "which can be squeezed out of the buyers" Enter stage right the world of the antitrust laws which has largely been gutted by businessmen and politicians working together.

If that wasn't enough, Smith also warned that businessmen will also try to dominate their political systems and create a conspiracy of businesses and those in government that works against the interest of consumers, with the former scheming to influence politics and legislation. This is the birth of the corruption of crony capitalism, one of our major problems today.

Smith states that the interest of manufacturers and merchants "...in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public."

Rather prescient for someone writing before 1776, I think...
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Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ