Adam Smith
1723–1790, Scotland (the Scottish Enlightenment: Kirkcaldy, Glasgow, Edinburgh)
BRICS Wants to Shape the Rules. The Price System Will Judge Them.
When great powers in Delhi vow to be rule‑shapers, not rule‑takers, the impartial spectator must ask a simpler question: what happens to prices, peace, and the labouring poor?
In Delhi, we are told, some of the most powerful persons in the world sat around a vast circular table and were urged to become “rule‑shapers, not rule‑takers.” The phrase is admirably frank. To shape the rules of trade, of finance, of war and peace, is to shape who bears the costs and who reaps the gains. Every tariff, every sanction, every new financial arrangement writes itself, in the end, into the prices paid by ordinary consumers and the wages earned by the labouring poor. When leaders speak of the architecture of the global order, the impartial spectator ought to hear also the rent, the price of bread, and the chance of honest employment.
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