Seattle (for Brad De Long)

Chuck Grimes cgrimes at tsoft.com
Wed Dec 1 08:29:40 PST 1999


Anti-capitalist, but pro-what?

Brad DeLong

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"It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinction in society will always exist under every just government. Equality of talents, of education, or of wealth can not be produced by human institutions ... but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and potent more powerful, the humble members of society--the farmers, mechanics, and laborers--who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. There are no necessary evils in government. its evils exist only in its abuses. If it would confine itself to equal protection, and as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me there seems to be a wide and unnecessary departure from these just principles ..."

Andrew Jackson's veto of the Bank Bill, July 10, 1832.

Not exactly my idea of an economic radical, and yet how far we have fallen from even Jackson's dismal tenets.



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