#Japan: New chapters for Adam Smith on personal growth with overwhelming debt. Noah Sneider @TheEconomist
Dec 15, 2021, 02:19 AM
Photo: Adam Smith.
Adam Smith calls the Keynesian-like argument that a large public debt is not to be feared because “we owe it to ourselves” an example of “the sophistry of the mercantile system” which he had spent so much time debunking in the Wealth of the Nations (1776).
Adam Smith calls the Keynesian-like argument that a large public debt is not to be feared because “we owe it to ourselves” an example of “the sophistry of the mercantile system” which he had spent so much time debunking in the Wealth of the Nations (1776).
#Japan: New chapters for Adam Smith on personal growth with overwhelming debt. Noah Sneider @TheEconomist