I got the bright idea that if Adam Smith had been born 50 years later and lived to observe the industrial era he would have added an easy to understand delineation of the "race to the bottom" to his insights -- the race to the bottom being the chief difference between his era of more or less natural perfect competition among small entrepreneurs and skilled artisans, and the industrial era of 100 times more productive but interchangeable workers who are solely dependent on big entrepreneurs for the tools of their trade (e.g., steam looms).
I hope to come up with a simple delineation to serve in Smith's missed out on place -- not that I am any big brain; I just suspect that, from what I have seen so far of unfettered- free market misconceptions, untangling the economic truth may not be too un-simple. Anybody who wants to try, please have at it.
Typical of Republican economic fairy tales: Newt Gingrich on Hannity the other night (same as Mailer broadcast) attacked the card check as depriving workers of the right to free unionizing elections which right he claims 90-95% of Americans support. Of course, the "Catch 22" election that Newt is talking about is the election that labor cannot get because of the gauntlet set for labor to run by current so called-labor law and super-bean counter management -- which is why labor is going for the card check in the first place, Newty baby. I assert that 90-95% of Americans might support a union election in EVERY work place (you don't have to run an obstacle course to vote for mayor), periodically, or that unionizing elections may be triggered by a 10% card check (the same percentage that triggers political party participation in nationwide presidential debates (e.g., Ross) and could plausibly be used to trigger public campaign matching funds -- or some equivalent of easy access unionizing elections.