By the heritage of improvement I mean the net economic advantage which we and other
generations who come late in the history of mankind, possess in consequence of what has …

" Capitals are increased by parsimony, and diminished by prodigality and misconduct." I In
this one sentence, Adam Smith establishes the concept of savings as a basis for economic …

The National Bureau was founded, we have been told by N. 1. Stone, to answer questions
like the one that brought him and Malcolm Rorty together. It was" a most important question …

We demonstrated elsewhere that the natural rate of profit falls as the rate of growth is
increased by a higher rate of saving in our Smithian growth model. This confirms Smith's …

AWELL-KNOWN tendency in the history of economic thought is for economic concepts to
have been defined in a seemingly objective way, while actually they have reflected …

The Theory of Economic Development. By JOSEPH A. SCHUMPETER. Translated from the
German by REDVERS OPIE. Cambridge: Harvard University Press, I934. Pp. Xii+ 255 …

Adam Smith's theory of economic growth is at first sight startlingly different from that of
Quesnay and the Physiocrats. In their argument industry produces no investable surplus …