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To which he replied, "Well you're nothing but a communist."
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That, in fact, is the problem.
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Under Smithian assumptions about long-term honesty,
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long-term interests in real value creation,
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it worked perfectly.
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It's just that when those assumptions start to erode,
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it turns into a nightmare.
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Okay terrific.
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Georgios, I'm going to call on you in a moment for a one sentence read.
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Here's the proposition that we now want to look at.
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Smith--here's an apparent but not real paradox.
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Adam Smith says self-interest is the main motive