Part 1 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 2 “The Sage of Kirkcaldy” In this chapter, Peter Foster follows Adam Smith through the years as he developed his ideas that were enshrined in his two books, The Theory of Moral Sentiments in 1759 and The Wealth of Nations in…
Tag: Mercantilism
1913
Entrepreneurship as a Solution
A Discussion of Oliver DeMille’s 1913 Chapter 8 “Solution: #1 Entrepreneurship” DeMille notes the entrepreneurial spirit is a part of the American culture, but it can be threatened by an ever-growing federal government. He says the founders were considering what type of national character the new country was going to…
Bourgeois Equality
And the New Bourgeois Respect Created Vested Interests Supportive of the Great Enrichment
A Discussion of Bourgeois Equality Chapter 48 “And Betterment, Though Long Disdained, Developed Its Own Vested Interests” Change is hard to do in a system in part because it hurts one or more groups who are part of the existing status quo. So how can something as big as a…
Bourgeois Equality
Accounting Was Sooo Bourgeois
A Discussion of Bourgeois Equality Chapter 34 “Aristocratic England, For Example, Scorned Measurement” Dr. McCloskey continues exploring the cultural mindset of the Elizabethan era of England in this chapter to demonstrate it did not embrace measurement, which is foundational to the launch of the Great Enrichment in the eighteenth century….
Bourgeois Equality
You Cannot Steal Economic Growth
A Discussion of Bourgeois Equality Chapter 10, “Divergence not Imperialism” Welcome to chapter 10 of McCloskey’s book, Bourgeoise Equality, as we continue the chapter by chapter walk through. Today’s chapter is beginning Part 2 in her book, examining the question, why are the rich countries rich today? McCloskey is going…