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What are the causes of prosperity? In addition to saving, capital accumulation, and good institutions, Adam Smith … explains opulence through vanity and luck, two variables we tend to forget today. For Smith, wealth comes from our propensity … seem to be more of an accident of history rather than deliberate attempts to create prosperity. For Smith, vanity and …
Persistent link: https://www.econbiz.de/10013295289
-interest allegedly originating in Adam Smith. I embark on sketching a ‘third culture’ in economics, employing a notion from cross … woven together in a comparison between Confucian thinking and Adam Smith, especially with regard to the ‘Theory of Moral …
Persistent link: https://www.econbiz.de/10014275836
successive failures in the fight against poverty have led to new strategies to combat it, an example of which is "pro-poor growth …
Persistent link: https://www.econbiz.de/10013040542
The origins of “capital fundamentalism” – the notion that physical capital accumulation is the primary determinant of economic growth – have been often ascribed to Harrod's and Domar's proposition that the rate of growth is the product of the saving rate and of the output-capital ratio....
Persistent link: https://www.econbiz.de/10012970842
Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macroeconomics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow...
Persistent link: https://www.econbiz.de/10011706942
-interest allegedly originatingin Adam Smith. I embark on sketching a ‘third culture’ in economics, employing anotion from cross … woven together in a comparison between Confucianthinking and Adam Smith, especially with regard to the ‘Theory of Moral …
Persistent link: https://www.econbiz.de/10009005039
Regarding economic freedom, research shows that although it has its negative effects, especially in a shorter term, e.g., the phase of increasing inequality, overall trends are indicative that countries with higher levels of economic freedom have not only higher gross domestic product per capita...
Persistent link: https://www.econbiz.de/10014132139
: Adam Smith -- 2. For deductive method and rent over poor relief: David Ricardo and Thomas Malthus -- 3. For maximizing …
Persistent link: https://www.econbiz.de/10000645491
Persistent link: https://www.econbiz.de/10000565629