Adam Smith's answer to the Feldstein-Horioka Paradox: The invisible hand revisited

Adam Smith explained the Feldstein-Horioka Paradox, arguing that it is the pursuit of security that leads owners of capital to invest at home and that it is the pursuit of security, not profit, that leads them to promote the good of society.

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Year of publication:	2011
Authors:	Yasutomi, Ayumu ; Horioka, Charles Yuji
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 110.2011, 1, p. 36-37
Publisher:	Elsevier
Keywords:	Feldstein-Horioka paradox or puzzle Capital mobility Capital flows Adam Smith Invisible hand

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008866993