Dingo the Dissident

THE BLOG OF DISQUIET : Qweir Notions, an uncommonplace-book from the Armpit of Diogenes, binge-thinker jottings since 2008 .

Friday, 3 May 2024

The meaning of wealth.

"In the mid-18th century a group of economic theorists,
led by David Hume (1711–1776) and Adam Smith (1723–1790),
challenged fundamental mercantilist doctrines —
such as the belief that the world's wealth remained constant,
and that a state could only increase its wealth at the expense of another state."  [Wikipedia on Capitalism]

Hume and Smith were, of course wrong. 
The world's wealth (the biosphere) is finite and constant,
though a state's wealth (artificial, monetary, military)
can be elastically huge.

Smith and Sympathy.


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