Liberty and Economic Growth in Adam Smith’s Possible World

Mark Jackson ()

Constitutional Political Economy, 2005, vol. 16, issue 3, 277-284

Abstract: Constitutional economics proposes and pursues a solution to public-policy problems, one that supplies rules designed to narrow the opportunity set of rational politicians. This work proposes and pursues “rational policy” as a complementary strategy to solve public-policy problems, where rational policy is public-policy that actualizes Adam Smith’s simple system of natural liberty. When individuals pursue their objectives by means of exchange in Smith’s simple system of natural liberty, they foster the growth of per-capita income. By contrast, all limitations on liberty limit the growth of per-capita income. The paper concludes by presenting two implications that follow from these conclusions. Copyright Springer Science+Business Media, Inc. 2005

Keywords: liberty; Adam Smith; growth (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1007/s10602-005-2834-1 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:copoec:v:16:y:2005:i:3:p:277-284

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/10602/PS2

DOI: 10.1007/s10602-005-2834-1

Access Statistics for this article

Constitutional Political Economy is currently edited by Roger Congleton and Stefan Voigt

More articles in Constitutional Political Economy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().