Odds and Ends
Like a Shakespearean play
10 10, 7:04pm
I mean any large vested interests that gain too much power. I lived through the 1970's so I know that the unions then were over-powered. However what was needed was a re-balancing rather than an even worse imbalance in the opposite direction. Abortions like Amazon with its tax evasion and abuse of its staff would never have been allowed in the period 1945-79 and Britain would be better off without such scum. Ditto for many other such groups.
Smith didn't assume a fully rational man but he did state that full information of the facts is required, which is in some ways more difficult now than in his time. Its very easy for companies, even when not directly bribing politicians, to generate so much mis-information over what their doing to hide even basic facts. Good examples are the propaganda put out for so long to hide the impact of smoking on health or nowadays the old coal and oil industries to impede action on global warming and other environmental issues. Or how autocratic figures in many countries seek to deceive people on basic facts - Trump, Putin and Xi are recent examples. After all Smith himself mentioned the eagerness of merchants to defraud their markets. ;)
Being cynical to excuse your own behaviour is the lazy way of doing things. However allowing massive corruption and incompetence makes it pretty much certain to succeed and things worse for everybody, other than the scum who have risen to the top. I would rather fight and win some battles than never try and lose them all. Much better to live in a democracy, even if flawed than an autocratic system when power is owned by the few.