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this post was submitted on 13 Mar 2026
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wannabe econ dorks love quoting adam smith until you mention his quotes about profit and rent driving inflation
"But the mean rapacity, the monopolizing spirit of merchants and manufacturers, who neither are, nor ought to be, the rulers of mankind"
Marx been real quiet since this dropped
Marx openly states throughout his works that Smith basically got the overtures right but came to the wrong conclusions. LTV comes from Smith.
He also quotes this passage specifically in an affirming manner, I think.
Indeed, reading Smith and then Marx is basically the equivalent of learning Newtonian mechanics then learning about GR. I'm sure Smith would probably agree with Marx on a lot of things, since Marx had the benefit of decades of development of the mercantile system that Smith was investigating.