Public Speech: “Markets, Capital Markets and Globalization”

Vernon Smith ()

A chapter in Developments on Experimental Economics, 2007, pp 3-16 from Springer

Abstract: Abstract I want to begin with a quotation from David Hume on trade. He was writing in the 18th century in Scotland. David Hume was part of what we call the Scottish Enlightenment, and the two most important figures in the Scottish Enlightenment were David Hume and Adam Smith. And this is David Hume on trade: Manufacturers gradually shift their places leaving those countries and provinces which they have already enriched and plying to others, whither they are allured by the cheapness of provisions and labor, till they have enriched these also and are again banished by the same causes.

Keywords: Labor Market; Stock Market; Internal Combustion Engine; Service Market; Trust Game (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/978-3-540-68660-6_1

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