*Smith: It’s a Capitalist World*

That is a new magazine, on UK-style paper, nice-looking, and presented by Jamie Whyte.  The first issue was published this December, and contributors include Dominic Hilton, Vernon Bogdanor, Helen Dale, David Friedman, Steven Landsburg (who seems to have a column on economic puzzles), Matt Ridley, Martha Bayles, and others.

So far my impressions are positive, though I despair at the economics of magazines more generally.

Googling the title of the magazine seems to yield nothing, and the issue I was sent does not obviously explain how to subscribe.  So I am not sure where to send those of you looking for more, but if anyone from the magazine is reading, would you please include that information in the comments section of this post?

Addendum: “Anybody who would like to see the PDF of Smith, please email me and I will send it to you. jamie.whyte@smithmagazine.com”

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I only recognize David Friedman, Matt Ridley and Steven Landsburg, but it's not my field. What is UK style paper? Like onion skin paper or something?

Matt Ridley - Northern Rock.
Not sure he’d be my go to capitalist.

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What is onion skinned paper? Surely Americans don’t makes paper out of onion skins do they?

Onion skin paper from wikipedia
https://en.wikipedia.org/wiki/Onionskin

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Actually, Adam Smith didn't use the term "capitalism", but that's a minor point. Is it a capitalist world today? I'm not so sure, not with the ascent of China and other countries that are attempting to copy the China model. How about China: It's a State Capitalist World. Or, in deference to our host, Cowen: It's a State Capacity Libertarian World.

Who is attempting to "copy the China model" right now, rayward?

The French invented most of the words we now use for political economy categories including capitalism, communism, nationalism, and libertarianism, although the British got to invent socialism (Robert Owen) and anarchism (Godwin).

I thought Werner Sombart invented the term capitalism.

Probably the first usage was in 1770 by Turgot, long before Sombart. Heck, Marx used it also a lot prior to Sombart. He even wrote a three volume work called "Capital" (although only Vol. 1 was published in his lifetime in 1867) in which "capitalist" and "capitalism" were used a lot.

Indeed. …… …. “But the sense of senselessness,” Frank interrupted
“Sure,” Robinson said, taking a deep breath, behind him a taxi cab and behind it, Park Street on Fourth Avenue.
“Is based on a sect or observance of torture.”
“Or upright rest,” I said.
“Hung yin as a tortoise shell,” Robinson retorted.
“No hope’s being wasted?” Frank asked.
“When an acknowledgement of existence is solely based on the tragedy of the commons—that’s their conscience, real as blue and green, just some alligator in a Libyan River. The data become self-fulfilling, or as they say New Caledonia and Martinique and Paraty, to render unto Caesar, unconsciousness.” Robinson said.

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It may be a small point or a big point, while the words capital and capitalist, with all kinds of further adjectives, indeed appear in all three volumes of Das Kapital, the word capitalism does not. [I have before me all three volumes, printed by Dietz Verlag, 1975. That was East German, and available at a very, very low price! :-)]

https://www.nytimes.com/2019/12/13/opinion/sunday/trump-democracy.html

Democracy Grief Is Real

Dismalist,

See p. 124 of Vol. I of Capital, although perhaps the translation you have does not use the term. I have seen claims that rather than Turgot in 1770, the term "capitalisme" was first used by Louis Blanc (in French) in 1850. I am unable to really pin this down, but it does seem that whenever it was, the first use was in France in French.

Cool, Barkley.

It's not in the index of my 1867 version of Kapital I. Maybe a later translator smuggled it in? :-) And surely the term could have been first used at different times in different languages.

Anyway, my interest was no so much in determining who first used the term capitalism, but when. Relatively late, I'm suggesting.

You are right that Marx did not use it extensively in Capital, although he used "capitalist" a lot.

https://books.google.com/ngrams/graph?content=capitalist&year_start=1800&year_end=2008&corpus=15&smoothing=3&share=&direct_url=t1%3B%2Ccapitalist%3B%2Cc0#t1%3B%2Ccapitalist%3B%2Cc0

Excellent! Fascinating. It started earlier than I thought. The 1980 peak really surprises me.

Oooh, I was so right! Compare the word capitalISM

https://books.google.com/ngrams/graph?content=capitalism&case_insensitive=on&year_start=1800&year_end=2008&corpus=17&smoothing=3&share=&direct_url=t4%3B%2Ccapitalism%3B%2Cc0%3B%2Cs0%3B%3Bcapitalism%3B%2Cc0%3B%3BCapitalism%3B%2Cc0%3B%3BCAPITALISM%3B%2Cc0#t4%3B%2Ccapitalism%3B%2Cc0%3B%2Cs0%3B%3Bcapitalism%3B%2Cc0%3B%3BCapitalism%3B%2Cc0%3B%3BCAPITALISM%3B%2Cc0

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Ethiopia and Vietnam are trying to copy the China model.

OK, somewhat.

+!

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I'm sorry to inform you that this magazine is irretrievably lost and you will not be seeing any more of it.

the word at the tip of your tongue is money. masticatory
(Entry 1 of 2)
: a substance chewed to increase saliva

(Entry 2 of 2) - entropy

China is often rebuked for employing crackers to break computer security to gain access to the secrets of companies that claim, when it suits them, to be “American."

I'm only one person, not a small business, but it has been forever on this blog.

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There's a return to small magazines explicitly not on the internet in the music world also. Keeps the unwashed masses out I suppose.

Scared of comments sections. Journalism is one of the hardest-hit professions by the internet. It used to be that you could fire and forget opinions.

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Sounds intriguing, although the title is puzzling. It seems to imply classical liberal economics topics, or maybe even history of economic thought. But I'd think those are too narrow for even a niche economics 'zine to survive. So I'm guessing it will cover a wider range of topics than those?

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Capitalist/Capitalism were epithets created by mid-19th Century European socialists --- intended to insult private businessmen and free markets generally.

Leftists embraced and promoted the terms ever since, for same reason. But it's lost its direct insult quality over time.

Most average people todasy could not define the term 'capitalism' ... or socialism.

I agree.

I would also suggest to any current died-in-the-wool socialists, if they knew who they were, to read the Communist Manifesto, the greatest paean to the capitalist class, or the bourgeoisie, as Marx called their people, ever written.

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Thanks Tyler. The issue you received was intended for December publication but that didn't happen (money trouble!) We're working on solving that problem. We will make a pdf of that December issue available online soon

Thanks Jamie. Tyler, please post a link to the PDF once it's up. You have provoked our interest in this publication.

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https://www.telegraph.co.uk/politics/2019/09/14/three-intellectual-magazines-launch-right-centre-left-engage/

"Two new glossy magazines - Smith and The Critic - are launching while the 11 year old right of centre Standpoint is set for a glitzy relaunch this week at a London club."

"Up against Standpoint and The Critic is a new yet to be launched magazine tentatively called 'Smith', edited by Jamie Whyte and backed by Chris Rokos, a British hedge fund millionaire.

Mr Whyte declined to answer questions from the Sunday Telegraph but a source close to the magazine's backers said Smith would be a "publication... to encourage intelligent debate"."

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What is "paper"?

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Anybody who would like to see the PDF of Smith, please email me and I will send it to you. jamie.whyte@smithmagazine.com

that didn't work for me:

I got a bounceback with
DNS Error: 1622479 DNS type 'mx' lookup of smithmagazine.xn--com-9o0a responded with code NXDOMAIN Domain name not found: smithmagazine.xn--com-9o0a

That's odd 'cause I can lookup the MX record.

$ dig @8.8.8.8 smithmagazine.com MX +short
0 smithmagazine-com.mail.protection.outlook.com.
$

ah well.

In the main post the hyperlink to the email address is incorrectly formatted – it loads the email address without .com on the end. The text is correct however, so if you type in jamie.whyte@smithmagazine.com it should work.

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