Is the System Rigged? Adam Smith on Crony Capitalism, Its Causes—and Cures

Noted libertarian Charles Koch, writing in the Washington Post, argued that he agreed with one claim made by socialist Senator Bernie Sanders: that the system is rigged in favor of the few. This result, he argues, can only be accomplished when society is experiencing continued, preferably increasing, economic growth. Is there something inherent in the system of natural liberty, or in human nature itself, that is systematically corrupting in ways that undermine its claims of universal benefits? — [Adam] Smith warned that natural liberty faces natural obstacles in the form of human nature, particularly the desire of especially “merchants and...