Gavin Kennedy: What Adam Smith Actually Identified as the Appropriate Roles for 18-Century Governments: "Navigation Acts, blessed by Smith under the assertion that ‘defence, however, is of much more importance than opulence’ (WN464); Sterling marks on plate and stamps on linen and woollen cloth (WN138–9); enforcement of contracts by a system of justice (WN720); wages to be paid in money, not goods; regulations of paper money in banking (WN437)...
...obligations to build party walls to prevent the spread of fire (WN324); rights of farmers to send farm produce to the best market (except ‘only in the most urgent necessity’) (WN539); ‘Premiums and other encouragements to advance the linen and woollen industries’ (TMS185); ‘Police’, or preservation of the ‘cleanliness of roads, streets, and to prevent the bad effects of corruption and putrifying substances’; ensuring the ‘cheapness or plenty [of provisions]’ (LJ6; 331); patrols by town guards and fire fighters to watch for hazardous accidents (LJ331–2); erecting and maintaining certain public works and public institutions intended to facilitate commerce (roads, bridges, canals and harbours) (WN723); coinage and the mint (WN478; 1724); post office (WN724); regulation of institutions, such as company structures (joint- stock companies, co-partneries, regulated companies and so on) (WN731–58); temporary monopolies, including copyright and patents, of fixed duration (WN754); education of youth (‘village schools’, curriculum design and so on) (WN758–89); education of people of all ages (tythes or land tax) (WN788); encouragement of ‘the frequency and gaiety of publick diversions’(WN796); the prevention of ‘leprosy or any other loathsome and offensive disease’ from spreading among the population (WN787–88); encouragement of martial exercises (WN786); registration of mortgages for land, houses and boats over two tons (WN861, 863); government restrictions on interest for borrowing (usury laws) to overcome investor ‘stupidity’ (WN356–7); laws against banks issuing low-denomination promissory notes (WN324); natural liberty may be breached if individuals ‘endanger the security of the whole society’ (WN324); limiting ‘free exportation of corn’ only ‘in cases of the most urgent necessity’ (‘dearth’ turning into ‘famine’) (WN539); and moderate export taxes on wool exports for government revenue (WN879)...
#noted
