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TED: "Paul Tudor Jones II: Why we need to rethink capitalism"

"... Though Nature, therefore, exhorts mankind to acts of beneficence by the pleasing consciousness of deserved reward, she has not thought it necessary to guard and enforce the practice of it by the terrors of merited punishment in case it should be neglected.

"It is the ornament which embellishes, not the foundation which supports the building, and which it was, therefore, sufficient to recommend, but by no means necessary to impose.

"Justice, on the contrary, is the main pillar that upholds the whole edifice.

"If it is removed, the great, the immense fabric of human society, that fabric which to raise and support seems in this world, if I may say so, to have been the peculiar and darling care of Nature, must in a moment crumble into atoms."

from 'The Theory of Moral Sentiments' by Adam Smith (1759).
It provided the ethical, philosophical, psychological, and methodological underpinnings to Smith's later works, including 'The Wealth of Nations' (1776).

"Paul Tudor Jones II loves capitalism. It's a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, 'threatening the very underpinnings of society'.

"In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of 'justness'."

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