Nineteenth-century nationalism and capitalism’s own success forced a more interventionist state than Smith imagined.

Evidence

Yet the state was changing its role throughout the nineteenth century, despite Ricardo’s admonishments. Those very nineteenth-century activities of nationalism and state building demanded a far more interventionist state than that envisaged even by Smith. Furthermore, the very success of capitalism brought forth a variety of social movements that demanded political representation, economic compensation, and social protection, all of which cost money and threatened private property. — Mark Blyth, Austerity, 310

Categorization

• XREF: Charts the historical pressure that made austerity a reactive project; useful counterpoint to Mattei’s account of austerity as response to deficits. — connects to: Supply-side economics descends directly from Smith’s saving-drives-investment theory — Mark Blyth, Austerity: The History of a Dangerous…, 296; Most early nineteenth-century Europeans opposed limitless capitalist expansion — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 233; For Smith, corporations are legal state-created bodies distinct from entrepreneurs — Grant Bollmer, Katherine Guinness, The Influencer Factory: A Marxist…, 377 (+1 more)

Broader Connections

• For Smith, corporations are legal state-created bodies distinct from entrepreneurs #expands (0.80) — Grant Bollmer, Katherine Guinness, The Influencer Factory, 377
• Most early nineteenth-century Europeans opposed limitless capitalist expansion #qualifies (0.75) — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 233
• Adam Smith himself warned that fellow traders habitually conspire against the public #qualifies (0.72) — Naomi Klein, Doppelganger, 775