Thrift as a Virtue, Historically Criticized
AbstractThrift has been viewed since the blessed Adam Smith as the foundation of economic growth. Economists, the theorists of prudence, wsh it so. But it was not, and is not true. Modern economic growth came from some other source---perhaps the stunning shift 1600-1776 in the rhetoric of economy-talk.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 4088.
Date of creation: Jun 2006
Date of revision:
thrift; savings; industrial revolution; growth models;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-07-27 (All new papers)
- NEP-HIS-2007-07-27 (Business, Economic & Financial History)
- NEP-HPE-2007-07-27 (History & Philosophy of Economics)
- NEP-PKE-2007-07-27 (Post Keynesian Economics)
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- Deirdre McCloskey, 2004. "The Bourgeois Virtues," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(3), pages 1-16, July.
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