Welcome to the (Financial) Jungle

I just hit Google News looking for mentions of Adam Smith because of a Bloomberg article by Nassim Nicholas Taleb: “Taleb Says Nationalize Banks, You Can’t Trust Them.”

I was looking for mention of Adam Smith because he gets less credit lately for such thoughts than do scholars like Taleb. No offense to the author of the best-selling finance book The Black Swan, but Smith said that banks were inherently untrustworthy and needed watching way back in his 1776 tome Wealth of Nations.

I wish more financial types would actually take a couple of years and read Wealth of Nations. There’s a lot of wool in it, both metaphorical and otherwise, but it’s a grand, enlightening, and misinterpreted work.

Anybody’s who’s read this work knows that Smith HATED joint stock companies. Today we call these outfits corporations.

But that isn’t really why I’m posting tonight. What got me was what turned up when I Googled “adam smith” in the news.

Here’s what hit me: GNR’s Duff McKagan Becomes Financial Columnist

I blinked. The Guns N’ Roses bass guy? Uh, OK.

Life’s full of surprises. Not only are he and his liver still alive, he’s now a columnist for the Seattle Weekly and the financial columnist for Playboy.

Business school. English class. Sounds like he’s turned his life around nicely. He apparently did well with investing after GNR.

I hope Duff’s sold his Starbucks stock by now.



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