In a telling coincidence, the publication of Adam Smith’s world-changing free-market classic, The Wealth of Nations,coincided with the Declaration of Independence in 1776. Many of theFounders read the book. Without the medieval encumbrances and thepowerful, entrenched special interests that plagued other countries,the United States could make Smith’s ideas the basis of its economicdispensation. Gordon writes, “The United States has consistently comecloser to the Smithian ideal over a longer period of time than anyother major nation.”
In the latitude provided by this relatively light-handedgov*ernment, a commerce-loving, striving, and endlessly inventivepeople hustled its way to become the greatest economic power the worldhas ever known.
In America, there really hasn’t been a disaffected proletariat — because the proletariat has gotten rich.