Adam Smith vs. Crony Capitalism

The Scottish philosopher's suspicions about business people were well-founded.

I admit it: I like Adam Smith. His perceptiveness never fails to impress. True, he didn’t foresee the marginal revolution that Carl Menger would launch a century later (with, less significantly in my view, Jevons and Walras), but give the guy a break. The Wealth of Nations is a great piece of work.

One thing I find refreshing in Smith is his wariness of business people. This is something we ought to frequently remind market skeptics. Smith knew the difference between being sympathetic to the competitive economy—which he called the “system of natural liberty”—and being sympathetic to owners of capital (who might well have acquired it by less-than-kosher means, that is, through political privilege). He knew something about business lobbies.

This famous passage from book 1, chapter of Wealth is often quoted by opponents of the free market:

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.

The quote is used to justify antitrust law and other government intervention. But as has often been pointed out in response, Smith had no such policies in mind. We know this because he immediately follows with:

It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.

Prime Beneficiaries

Government should do nothing to encourage or enable attempts to limit competition. But of course government does that all the time at the behest of business and to the detriment of consumers and workers. Hampering competition raises prices for the former and weakens bargaining power—and therefore lowers wages—for the latter. Those groups would be the prime beneficiaries of freed markets.

That’s not the only time Smith expresses his anti-business sentiment. In the next chapter he discusses the division of income among landlords, workers, and owners of capital. Here Smith and the classicals suffered from their lack of marginal analysis, subjectivism, and thoroughgoing methodological individualism. As Professor Joseph Salerno has written,

Regarding the question concerning the determination of the incomes of the factors of production, the Classical analysis was almost completely worthless because, once again, it was conducted in terms of broad and homogeneous classes, such as “labor” “land” and “capital.” This diverted the Classical theorists from the important task of explaining the market value or actual prices of specific kinds of resources, instead favoring a chimerical search for the principles by which the aggregate income shares of the three classes of factor owners—laborers, landlords and capitalists—are governed. The Classical school’s theory of distribution was thus totally disconnected from its quasi-praxeological theory of price, and focused almost exclusively on the differing objective qualities of land, labor, and capital as the explanation for the division of aggregate income among them. Whereas the core of Classical price and production theory included a sophisticated theory of calculable action, Classical distribution theory crudely focused on the technical qualities of goods alone.

“Narrow the Competition”

Nevertheless, Smith’s chapter contains another perceptive skeptical reference to “those who live by profit.” He writes:

Merchants and master manufacturers are . . . the two classes of people who commonly employ the largest capitals, and who by their wealth draw to themselves the greatest share of the public consideration. As during their whole lives they are engaged in plans and projects, they have frequently more acuteness of understanding than the greater part of country gentlemen. As their thoughts, however, are commonly exercised rather about the interest of their own particular branch of business, than about that of the society, their judgment, even when given with the greatest candour (which it has not been upon every occasion) is much more to be depended upon with regard to the former of those two objects, than with regard to the latter. . . . The interest of the dealers . . . in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers. To widen the market may frequently be agreeable enough to the interest of the public; but to narrow the competition must always be against it, and can serve only to enable the dealers, by raising their profits above what they naturally would be, to levy, for their own benefit, an absurd tax upon the rest of their fellow-citizens. [Emphasis added.]

Smith harbored no romanticism about those who have long seen rent-seeking as the path to wealth not available in the freed market. In case we didn’t quite get his point, Smith goes on:

"The proposal of any new law or regulation of commerce which comes from this order [that is, 'those who live by profit'], ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it." [Emphasis added.]

Smith grew up under mercantilism and knew well of what he wrote. America grew up largely under mercantilism and its cousin, Hamiltonian-Lincolnian corporatism. In this respect advocates of the freed market should embrace Smith’s understanding of political economy: that a powerful force against freedom emanates from where they might least expect to find it.

Sheldon Richman is editor of The Freeman, where this article originally appeared.

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  • Paul||

    Sheldon Richman, is Smith’s wariness of business people.

    All libertarians should be extremely wary of business people. Especially if you've ever had the displeasure of working for a large corporation.

  • rather||

    So the free market is not your god?

  • ||

    Many if not most large corporations would not exist in a free market without government intervention.

    Economies of scale are fundamentally over rated and any advantages those economies do have can be easily gained by way of hiring contractors and/or franchising and in our modern economy are ever diminishing.

  • smartass||

    Economies of scale are fundamentally over rated...

    Not really true. Depends entirely on what segment of the economy you're talking about.

    What is true, is that maintaining proper management of the venture on gigantic scales, is really freaking hard and almost nobody does it well for very long.

    Nonetheless,

    Many if not most large corporations would not exist in a free market without government intervention....

    I suspect you and I would end up violently agreeing in the final summary.

  • ||

    violently agreeing

    Only if you bring a rubber.

  • ||

    Essentially what fascism/crony capitalism/corporatism (whichever term you prefer) does is fabricate 'economies of scale' where none actually exist.

    The effect of the state action is to introduce interventions that make larger more competitive to keep out competition. Tariffs, licensing schemes, taxes, mandates, and other regulations all make it harder for small business to exist.

    In a truly free market large corporations as often die calcification and inability to adapt. Government protects them from this as much as possible since there is a relationship which exists. That it is corrupt, inefficient, and detrimental to consumers and shareholders is of no concern to corporations or the state.

  • Sam Grove||

    A big problem with large corporations is that they become bureaucratic and manifest behaviors that are summarized in The Peter Principle.

    They become dirtied by politics as well.

  • ||

    Only as much as the Government is yours.

  • Bill||

    Did you not read (or understand?) the article?

  • ||

    I'm not wary at all of businessmen compared to non-businessmen, or corporations compared to other businesses. You do not suddenly become evil because you hang out a shingle.

    Yes there are tons of bad businessmen out there. There are also tons of bad non-businessmen. Like that housewife down the street who is running for city council because she's got a bee in her bonnet about too many cats in the neighborhood. Or that bimbo student who wants you to pay for her birth control. How are they any less evil than the businessman?

    The problem is not business, the problem is government. Add that into the mix and people from all across society will start scrabbling around for bits of that political power.

  • smartass||

    Especially if you've ever had the displeasure of working for a large corporation.

    Anybody who's worked for both privately held companies and corporations knows that both are mixed bags, in their own ways.

    But my main beef with the R/D divide is that neither side is cynical enough.

    Setting all hypocracy aside for the moment, one side claims to not trust business and implicitly trusts government, while the other claims to not trust government and implicitly trusts business.

    When people reach the stage that they don't trust either one, then we might be getting somewhere.

    But that will probably never happen because then people would have to face the fact that there really is no Santa Clause, and there are no gods out there that are going to save their sorry asses. We'll have to save our own, if they're ever going to be saved.

  • ||

    That's one smart-ass post, and I mean that with the best of intentions!

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  • ||

    I predict this post, like nearly every Richman post, will become a gigantic swirling sucking vortex of imbecility.

  • ||

    That characterizes all the posts.

  • ||

    We may have lucked out.

    It is Friday Shrike's mom might be taking him to a movie and White Indian masturbated early then ate fruit loops until it put him into a sugar coma.

  • Paul||

    Shrike is having beers with the rest of the boiler room.

  • Colonel_Angus||

    Idiot wishes it would ever be trusted to close on a dvd player at best buy.

  • ||

    WI types while in a coma? Just read what it posts.

  • smartass||

    So that's how people get cone shaped heads. I always wondered.

  • smartass||

    So that's how people get cone shaped heads. I always wondered.

  • Observer||

    I'm having trouble with a response. Hmmm, maybe this; Duh!

  • rts||

    I always have a hard time explaining to the "evil corporations" types that the free market is the perfect antidote to such excesses and (perceived) evil.

    I've never been sure if it's a failing on my part or if I'm just talking to fucking idiots.

  • Robocain||

    Both?

  • Bill||

    Most people's thinking only goes one or two layers deep . If you have a more complicated understanding of the way things work that relies on 3 or 4 levels of abstraction or requires bringing in 3-4 ideas from related areas, they can't follow it and go back to their level one or two. Like the idea that corparashuns are evil, or that the Intention of the policy they support is good.

  • EDG reppin' LBC||

    Probably idiots. Keep hammering away at their misconceptions, though. Always point out the connections between monopolies, political lobbying, rent-seeking, and the specific firms which benefit from these activities. Also, try to give examples of corporations that don't engage in this activity (hint: they won't be large corporations). It's a constant battle.

    Despite the CBA's, and anti-trust waivers the major sports leagues have, free-agency is an excellent way to explain the power and virtue of free markets.

  • ||

    The lefty cannot imagine a world where the role of government in the market is limited to protecting against force and fraud. They think that businesses will always be bidding for special favors from government.

    And you know what? They may be right! Even a minarchist libertopia might be a fantasy. But at least I can imagine it, and desire to move in that direction.

  • ||

    Smith got got the law of comparative advantage wrong...which is a terrible miss considering he understood the advantages of the division of labor.

    How one leads to the other is so obvious it almost forces one to develop conspiracy theories.

  • Paul||

    Explain. I haven't read Adam Smith, but I thought that he poo-poohed comparitive advantage in favor of absolute advantage?

    And I confess to only having hazy understanding of the comparitive advantage theory.

  • ||

    Smith came up with absolute advantage David Ricardo some 30 odd years late came up with comparative advantage.

    In the wealth of nations Smith describes how the division of labor in an assembly line can produce far more goods (wealth) then a similarly sized group singular craftsmen. 50 men doing one task each can produce more threading needles, by orders of magnitude, then 50 men doing all the tasks individually.

    The law of comparative advantage shows that you can produce the same type of increased production (wealth) when put to the scale of trade between nations.

    The economic theories are so similar that in my opinion they are describing the same phenomena....yet Smith failed at recognizing it.

  • ||

    Comparative advantage is not at all intuitive. Thinking it is a conspiracy is nuts.

  • ||

    Comparative advantage is not at all intuitive.

    It is intuitive after reading Smith's description of the advantages of the division of labor.

    Which is the point I made....and not the point you are accusing me of.

  • Max||

    “All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.” --Adam Smith

    "The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state." --Adam Smith

  • Paul||

    "The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state." --Adam Smith

    Right, so under a crazy scheme like a national sales tax which could replace the immoral "income" tax, the rich would pay much more in proportion to the revenue which they respectively enjoy under the protection of the state.

  • Colonel_Angus||

    Sounds more like he favors a flat rate tax.

  • Mr. FIFY||

    The only time Max makes sense, is when he cuts'n'pastes the stuff of sensible people... and even then, Max fucks it up.

  • ||

    Flat tax.

  • Fatty Bolger||

    Yep. Max supports a flat tax. Noted for future reference.

  • Silver Surfer||

    The heck with crony capitalism. I want to hear about Tony capitalism.

    C'mon, Tony, lay it on us!

  • Mr. FIFY||

    You don't wanna go there, Surfer.

  • Jeopardy Jackson||

    Behold: Max - flat tax advocate!

  • ||

    I first studied Adam Smith in college. He's basically to free-market capitalism what Karl Marx was to stste-run economics.

  • wef||

    The crony is not the worst. It is the The man of system... so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation from any part of it....He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board.

  • Fatty Bolger||

    Too nuanced.

    "CORPORASHUNS ARE NOT PEOPLE!!!"

  • Snarky Marxist||

    We still have WORK?

  • Standard Objection #5||

    At least we have a say over what government does. We can vote them out! What control do we have over corporations, huh?

  • Elbridge Gerry||

    Yeah! Vote them out!

  • ||

    None. None whatsoever. Because you are forced at the point of a gun barrel to patronize major corporations and use their goods and services. You have no control over how you spend your money and to whom you give it. Woe is you.

  • ||

    Ultimately, with the power of the purse do you control corporations. That, and some government regulations so that they don't run amuck in the meantime.

  • ||

    A good example of the superiority of real free enterprise vis-a-vis rent seeking is the construction of the transcontintental railroads.

    The method championed by one of history's greatest mass murderers, Dishonest Abe, was the so-called "American System" which was the antithesis to free enterprise. Under the American System, the state picked the winners and the winners picked the statesmen.

    Lincoln favored a "program of internal improvements" under the terms of which the state would finane the construction of, inter alia, bridges, canals, railroads and roads. While the state financed the construction of the above, the rent seeking business combinations in favor, got the contracts and undertook the job.

  • Saul A.||

    The transcontinental RR was heavily subsidized.

  • Xenocles||

    Wasn't that the point?

  • ||

    The building of the federally financed transcontinental railroads was a disaster ab initio. It lead to one of the most far reaching and sordid scandals in US history.

    The railroads stole land from the indians and killed them. The railroads hired chinese and irish immigrants and paid them slave wages - when they paid them at all.

    The publicly funded operations were spectacularly inefficient. Waste and corruption abounded. Almost everybody lost - except the rent seeking railroad barons and their political allies.

  • Sevo||

    "The railroads stole land from the indians and killed them. The railroads hired chinese and irish immigrants and paid them slave wages - when they paid them at all."

    Bullshit.

  • ||

    Please, you don't be an ignornat fuck.

    Any asseveration that it is bullshit that the plains indians were harassed, hunted down and killed in order to "protect" railroad construction is unvarnished ignorance.

    Have you ever read about the subject?

  • ||

    Ever read Hear That Lonesome Whislte Blow or Bury My Heart at Wounded Knee by Dee Brown.

    If not, educate thyself before making a fool of thyself.

    Ever read Prof. DiLorenzo on the subject?

    If not, do so. you may learn something.

  • Sevo||

    Boy, you're on a roll to win ignoramus award this evening.
    ""The railroads stole land from the indians and killed them."
    Followed by:
    "Any asseveration that it is bullshit that the plains indians were harassed, hunted down and killed in order to "protect" railroad construction is unvarnished ignorance."
    Damn! Tell that goalpost to stand still!
    And then, a real howler:
    "The railroads hired chinese and irish immigrants and paid them slave wages - when they paid them at all."
    We have a WINNER for March 9th Ignoramus. The gold goes to brain-dead over there.

  • ||

    It's not clear what you object to? That indians were killed for railroad right of way? Is that disputed anywhere?

    Or do you dislike the assertion that irish were paid 'slave wages'?

    There were some cases where people were brought to the middle of nowhere and essentially imprisoned at work camps.

    If you're an immigrant used to living in an urban environment and you are in the middle of wilderness, or led to believe you are, your options are limited. Do you think people that lobby government for grants, and kill indians for land, would be above trapping some coolies or micks at a work camp?

    Libertymike is not (correct me if I am wrong LM) attacking capitalism, he's attacking the crony capitalism the article is addressing.

  • EMp||

    YES!!!

  • Common||

    We got the show Hell on Wheels out of it though, so its a win.

  • Sevo||

    Any Superbowl advertiser and the various governments that 'affect' me have in common the fact that none have my interests as a primary goal. And all of them hope to separate me from some of my wealth to further their own welfare.
    I see the differences as critical:
    One has a gun to *FORCE* me to yield my wealth, while the other *ASKS* me to yield my wealth for a good or goods I might find more valuable.
    Secondly (and not by design), the advertiser ends up benefiting the general prosperity.

  • ||

    What about Chrysler and its Clint Eastwood narrated propaganda?

    Both Chrysler and the government HAD ALREADY SEPARATED YOU FROM YOUR MONEY.

  • ||

    To some extent I have given Clint a pass - perhaps due to an enfeebling of his mind at 80-82?

    Josey Wales would have just spat on the Clint Eastwood narrating "America at Halftime"

  • Sevo||

    Libertymike|3.9.12 @ 8:36PM|#
    "What about Chrysler and its Clint Eastwood narrated propaganda?"

    Yeah, what about that?

  • ||

    Kinda disproves your point.

    Chrysler, a Super Bowl advertiser, has used force to separate you from your wallet.

  • Sevo||

    Libertymike|3.9.12 @ 8:51PM|#
    "Kinda disproves your point."

    Mr. Pedantic, you should try thinking before posting.
    Chrysler used the *government* to grab my wallet.

  • ||

    So, what does that say about your criticial "distinction"?

    If A holds a gun to B's head for C's benefit and at his bequest, what does that say about C?

  • Sevo||

    Libertymike|3.9.12 @ 9:12PM|#
    "So, what does that say about your criticial "distinction"?"

    Everything, bozo.
    Are you claiming that all the advertisers have the ability to pull a gun?

  • ||

    Of course not.

    FWIW, I do agree, in principle, with your original point. Its just that its not an absolute.

    Upon a very good night of sleep and a good workout and a delicious Subway oven roasted chicken with spinach, tomatoes, cukes and pickles on a very well toasted pita, I must admit that I was kind of pedantic.

    In retrospect, I should have said what I did in the second paragraph and pointed to Chrysler as an example defeating the absolute application of the principle.

  • ||

    However, James Hill's Great Northern Pacific Railroad was built without one penny of subsidy. It was constructed without bribes, corruption and subsidy.

    Hill paid indians for the use of their land or he bought the land from them. He did not have to kill them or have detachments of cowardly blue bellied parasites protect his workers from ambushes.

  • Sevo||

    Libertymike|3.9.12 @ 8:34PM|#
    "However, James Hill's Great Northern Pacific Railroad was built without one penny of subsidy. It was constructed without bribes, corruption and subsidy."

    Right.
    First, it was built on lands too far north for the plains Indians to desire. And then:
    "The Minnesota legislature, eager for rail lines in its territory, granted charters as early as 1853 and issued one in 1857 to the Minnesota & Pacific Railroad Company. The latter provided for construction of a line from Stillwater, Minn., on the St. Croix River, to St. Paul, St. Anthony (now Minneapolis) and Breckenridge, and another by way of St. Cloud to St. Vincent on the Canadian border."
    From a history of the GN railway, http://www.gnrhs.org/gn_history.htm
    LM suffers from selective...
    Ah, hell, LM cherry picks wherever LM can.

  • ||

    From the same link, Sevo:

    "Subsidies of large grants of land and cash had helped build earlier lines to the Pacific coast. Mr. Hill's venture was unique in that land grants or other government aids were neither sought nor given. [The] only government lands ever received by Mr. Hill's company were those attached to 600 miles of railway in Minnesota constructed by predecessor companies and acquired by purchase."

    Mr. Hill did not own or control the Minnesota & Pacific railroad company at the time the charters were granted. At any rate, he paid for the land that was once given to predecessors by the state of Minnesota.

    You like to pick cherries?

    The same link, no less - all you had to do was scroll down a few paragraphs!!!!!!!!!!!!

    All in good fun.

  • ||

    One could easily argue that corporations, once they reach a certain point in their lifecycle, actually have an ethical obligation to their stakeholders to behave in rent-seeking ways that are against the public interest. A state so small that there is little or no rent to seek is the best hedge against that kind of influence.

  • Sevo||

    PM|3.9.12 @ 8:39PM|#
    "One could easily argue that corporations, once they reach a certain point in their lifecycle, actually have an ethical obligation to their stakeholders to behave in rent-seeking ways that are against the public interest."

    Prior to the anti-trust suit, MS had very little presence in DC. Afterwards, well...
    "Nice little software company you have there; shame it something happened to it..."
    Extortion. Nothing other.

  • ||

    Precisely my point. Any large corporation that doesn't have a presence in Washington is inviting disaster, and has an obligation to its stakeholders to protect its interests - including lobbying for privileges, trade restrictions, favorable tax incentives, etc, etc. If you aren't lobbying for those things yourself, your competitors will be and you will find yourself at a government-subsidized competitive disadvantage even if you never draw the ire of federal regulators. The solution is still the same.

  • ||

    This article is a good example of why I like Reason. Though people frequently have this view of "libertarians" that is at once monolithic and secondly very shallow; They presume that all "libertarians" have a very closed, ideological frameworkt. The basic premise of this article is the same one I use in conversation to slag Ayn Rand. Her absurd, ideal businessmen featured in her novels and philosophy bear no semblance to reality. Businessmen are frequently, by their "egoism", natural benders or breakers of the rules, especially of the market, not its ardent defenders. But to acknowledge this, and I think this is where modern "liberals" frequently err, and draw the conclusion that therefore the governments manipulation of the market is the penultimate solution, tends to actually aid these nastier types of businessmen rather than hinder them as they imagine.

  • ||

    I don't think Rand was unaware of this, as the majority of businessmen in Atlas Shrugged are DC cronies whose wealth is ill-gotten and who are dependent upon government for their continued success. Her protagonists are unique for their characteristics. I never got the impression that she believed all businessmen were paragons of laissez-faire virtue.

  • ||

    that is true. but I think she failed to see how her "egoism" naturally leads to those outcomes, that is, that those behaviors are natural to business.

  • ||

    As to your last statement, this is why there is a chance to make common ground with liberals. They have the right goal, wrong path. How to teach those old dogs new tricks?
    Did anyone ever make the assertion that Adam Smith might have/would have/did assert that free trade would be harmful if comparative advantages were eliminated. I admit to being undereducated and forgetful as to who/when such an assertion was made. But it sticks in my recollector. I would be entertained by a new analysis.

  • LOL||

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  • LOL||

    John Adams · Thomas Jefferson · Aaron Burr · George Clinton · Elbridge Gerry · Daniel D. Tompkins · John C. Calhoun · Martin Van Buren · Richard Mentor Johnson · John Tyler · George M. Dallas · Millard Fillmore · William R. King · John C. Breckinridge · Hannibal Hamlin · Andrew Johnson · Schuyler Colfax · Henry Wilson · William A. Wheeler · Chester A. Arthur · Thomas A. Hendricks · Levi P. Morton · Adlai Stevenson I · Garret Hobart · Theodore Roosevelt · Charles W. Fairbanks · James S. Sherman · Thomas R. Marshall · Calvin Coolidge · Charles G. Dawes · Charles Curtis · John Nance Garner · Henry A. Wallace · Harry S. Truman · Alben W. Barkley · Richard Nixon · Lyndon B. Johnson · Hubert Humphrey · Spiro Agnew · Gerald Ford · Nelson Rockefeller · Walter Mondale · George H. W. Bush · Dan Quayle · Al Gore · Dick Cheney · Joe Biden

  • LOL||

    John Adams · Thomas Jefferson · Aaron Burr · George Clinton · Elbridge Gerry · Daniel D. Tompkins · John C. Calhoun · Martin Van Buren · Richard Mentor Johnson · John Tyler · George M. Dallas · Millard Fillmore · William R. King · John C. Breckinridge · Hannibal Hamlin · Andrew Johnson · Schuyler Colfax · Henry Wilson · William A. Wheeler · Chester A. Arthur · Thomas A. Hendricks · Levi P. Morton · Adlai Stevenson I · Garret Hobart · Theodore Roosevelt · Charles W. Fairbanks · James S. Sherman · Thomas R. Marshall · Calvin Coolidge · Charles G. Dawes · Charles Curtis · John Nance Garner · Henry A. Wallace · Harry S. Truman · Alben W. Barkley · Richard Nixon · Lyndon B. Johnson · Hubert Humphrey · Spiro Agnew · Gerald Ford · Nelson Rockefeller · Walter Mondale · George H. W. Bush · Dan Quayle · Al Gore · Dick Cheney · Joe Biden

  • LOL||

    John Adams · Thomas Jefferson · Aaron Burr · George Clinton · Elbridge Gerry · Daniel D. Tompkins · John C. Calhoun · Martin Van Buren · Richard Mentor Johnson · John Tyler · George M. Dallas · Millard Fillmore · William R. King · John C. Breckinridge · Hannibal Hamlin · Andrew Johnson · Schuyler Colfax · Henry Wilson · William A. Wheeler · Chester A. Arthur · Thomas A. Hendricks · Levi P. Morton · Adlai Stevenson I · Garret Hobart · Theodore Roosevelt · Charles W. Fairbanks · James S. Sherman · Thomas R. Marshall · Calvin Coolidge · Charles G. Dawes · Charles Curtis · John Nance Garner · Henry A. Wallace · Harry S. Truman · Alben W. Barkley · Richard Nixon · Lyndon B. Johnson · Hubert Humphrey · Spiro Agnew · Gerald Ford · Nelson Rockefeller · Walter Mondale · George H. W. Bush · Dan Quayle · Al Gore · Dick Cheney · Joe Biden

  • LOL||

    John Adams · Thomas Jefferson · Aaron Burr · George Clinton · Elbridge Gerry · Daniel D. Tompkins · John C. Calhoun · Martin Van Buren · Richard Mentor Johnson · John Tyler · George M. Dallas · Millard Fillmore · William R. King · John C. Breckinridge · Hannibal Hamlin · Andrew Johnson · Schuyler Colfax · Henry Wilson · William A. Wheeler · Chester A. Arthur · Thomas A. Hendricks · Levi P. Morton · Adlai Stevenson I · Garret Hobart · Theodore Roosevelt · Charles W. Fairbanks · James S. Sherman · Thomas R. Marshall · Calvin Coolidge · Charles G. Dawes · Charles Curtis · John Nance Garner · Henry A. Wallace · Harry S. Truman · Alben W. Barkley · Richard Nixon · Lyndon B. Johnson · Hubert Humphrey · Spiro Agnew · Gerald Ford · Nelson Rockefeller · Walter Mondale · George H. W. Bush · Dan Quayle · Al Gore · Dick Cheney · Joe Biden

  • LOL||

    John Adams · Thomas Jefferson · Aaron Burr · George Clinton · Elbridge Gerry · Daniel D. Tompkins · John C. Calhoun · Martin Van Buren · Richard Mentor Johnson · John Tyler · George M. Dallas · Millard Fillmore · William R. King · John C. Breckinridge · Hannibal Hamlin · Andrew Johnson · Schuyler Colfax · Henry Wilson · William A. Wheeler · Chester A. Arthur · Thomas A. Hendricks · Levi P. Morton · Adlai Stevenson I · Garret Hobart · Theodore Roosevelt · Charles W. Fairbanks · James S. Sherman · Thomas R. Marshall · Calvin Coolidge · Charles G. Dawes · Charles Curtis · John Nance Garner · Henry A. Wallace · Harry S. Truman · Alben W. Barkley · Richard Nixon · Lyndon B. Johnson · Hubert Humphrey · Spiro Agnew · Gerald Ford · Nelson Rockefeller · Walter Mondale · George H. W. Bush · Dan Quayle · Al Gore · Dick Cheney · Joe Biden

  • Colonel_Angus||

    George Clinton? I love George Clinton! Don't touch that radio, don't touch that radio, don't touch that radio, don't touch that knooOOOB!

  • Fat Indian||

    Hey everyone.....rectal is back.

  • ||

    An Alternative to Capitalism (if the people knew about it, they would demand it)

    Several decades ago, Margaret Thatcher claimed: "There is no alternative". She was referring to capitalism. Today, this negative attitude still persists.

    I would like to offer an alternative to capitalism for the American people to consider. Please click on the following link. It will take you to an essay titled: "Home of the Brave?" which was published by the Athenaeum Library of Philosophy:

    http://evans-experientialism.f.....nsvold.htm

    John Steinsvold

    “Insanity is doing the same thing over and over and expecting a different result."
    ~ Albert Einstein

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