In the broadly owned but mostly unread The Wealth of Nations, Adam Smith properly focuses on stationery versus ascendant economies. What’s stationery is an investor repellant simply because in commerce, the present is always the past.
Let’s please keep this in mind as the criticism of Facebook creator Mark Zuckerberg grows. There’s a reason he’s Mark Zuckerberg, and we’re not. Think about it with Smith in mind.
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