Adam Smith's List of Unproductive Activities

Adam Smith, one of the three main classical economists, would differ from you and how you talk about the free market. For Adam Smith, it wasn't free from the state, it was free from rent, free from rent seeking. In order to limit rent seeking in the economy, which he understood to be unearned income, so people kind of just moving things around and yet getting funds for that, you actually need it also a more smart state. And I think the question of finance today, the real question is how can we reform finance, for example, for it to have a more direct relationship with productive capacity in the real economy,.