Thrift as a Virtue, Historically Criticized

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

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.

• Item Type: MPRA Paper
• Institution: University of Illinois at Chicago
• Language: English
• Keywords: thrift; savings; industrial revolution; growth models
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development; N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N10 - General, International, or Comparative

References

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