Munich Personal RePEc Archive

Thrift as a Virtue, Historically Criticized

McCloskey, Deirdre Nansen (2006): Thrift as a Virtue, Historically Criticized. Forthcoming in: Hedgehog Review

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Abstract

Thrift 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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