Adam Smith's answer to the Feldstein-Horioka Paradox: The invisible hand revisited

Ayumu Yasutomi and Charles Horioka ()

Economics Letters, 2011, vol. 110, issue 1, 36-37

Abstract: Adam Smith explained the Feldstein-Horioka Paradox, arguing that it is the pursuit of security that leads owners of capital to invest at home and that it is the pursuit of security, not profit, that leads them to promote the good of society.

Keywords: Feldstein-Horioka; paradox; or; puzzle; Capital; mobility; Capital; flows; Adam; Smith; Invisible; hand (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (2)

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Working Paper: Adam Smith's Answer to the Feldstein-Horioka Paradox: The Invisible Hand Revisited (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:110:y:2011:i:1:p:36-37

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