Friday, January 21, 2011

Money and Wealth

money is neither a consumers' good nor a producers' good and that, therefore, its quantity is irrelevant for the wealth of a nation.
Jörg Guido Hülsmann summary of David Hume, Adam Smith, and Étienne de Condillac (2003, Deflation and Liberty).
  • David Hume (1752, On Money)
  • Adam Smith (1776, Wealth of Nations)
  • Étienne de Condillac (1795, Commerce and Government - translated title)

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