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Thrift as a Virtue, Historically Criticized

Deirdre McCloskey

MPRA Paper from University Library of Munich, Germany

Abstract: Thrift has been viewed since the blessed Adam Smith as the foundation of economic growth. Economists, the theorists of prudence, wsh it so. But it was not, and is not true. Modern economic growth came from some other source---perhaps the stunning shift 1600-1776 in the rhetoric of economy-talk.

Keywords: thrift; savings; industrial revolution; growth models (search for similar items in EconPapers)
JEL-codes: N10 O11 (search for similar items in EconPapers)
Date: 2006-06
New Economics Papers: this item is included in nep-his, nep-hpe and nep-pke
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