jamotide: Maybe you should read the actual stuff and not just blindly follow your neo-liberal preachers?
What he actually wrote was, that individuals, despite seeking only their own gain, will still prefer to support domestic industry instead of foreign ones. They are led by an invisible hand to promote an end which was no part of their intention.
The "neo" in the "liberal" term is an adjective or a pejorative conjugation? Rhetoric question. I don't care about the answer since that term is stupid it self to lost time arguing about it.
From your answer I can only think you are trying hard to take out of context what I did said, going against me as a person. Well, at least you take further participation since you did go against the idea too; the second is the only way to have a logical discussion so I thank you for not staying on the first.
jamotide: Obviously he was totally wrong, because individuals will ship jobs overseas in an instant if it saves them a dollar. This is hard to face for neoliberals so they don't like to read the actual book.
You are right about the "going overseas to save a dollar" part, but what differences does it makes? Is it wrong? Chinese people are having an actual benefit from formers industries; Smith's theory still work in practice; can't say the same about Marx's ones, just google about my country.
Besides, what was the cause to make a business go overseas? Do you think that move to another country is free, that the enterprise does not have to make BIG investments there? They have to do BIG investments to go overseas, but if that is cheaper than support a Social State then let's go! They don't have an actual obligation to support a failed State.
I am going to take the best example, as always, USA. The country was found by liberal people (In fact, two venezuelans participate/agree there: Francisco De Miranda and Simón Bolívar, respectively, kinda proud of that), the country still have their original Constitution just with a few amendment, meaning his spirit still alive. So at Nike's / Converse / Adidas / Intel / etc began they work using USA citizens to make their products, no need to go overseas.
BUT WAIT! There's a "Democrat" wing that wants to convert the country into a Social State, and part by part, step by step they have done that over the years, forcing companies to pay workers same salary, a minimum salary, dental/health care and what ever the politic in turn wants to according to X federal state. So, what the hell, if I were a company CEO I will say let's move to a country were we don't have to do that, or were our currency allows to pay that because have more value than local one. Again, is that wrong? Why? I have an obligation with people?
Companies only obligation is to answers for the service / goods they provide if it result flaw in some way or non the way it is intended for. (About that, I totally like Max Payne 3 end hahaha, "
americans do know how capitalism works")
So, who is the fault to go overseas, the company or the socialist politician? If your answer is the "company" I will be glad to see why, and please don't tell me that companies are evil and blah blah; give me a original speech since you do read books.
Also, refusing Smith theory makes me think you are from a left wing, aren't you? Common characteristic of left wing's people is to pretend that them and only them have actually read the books; the opposite wings don't read, we just "blindly follow neo-liberal preachers". I guess Milton Friedman's theories applicate into Obama's recuperation plan (2009) was taken from a cereal box. Sarcasm.