 | United States. Congress. Senate. Committee on Labor and Public Welfare - 1964 - 1532 pages
...trouble — why, that was impugning thrift itself ! It was almost immoral : had not Adam Smith written, "What is prudence in the conduct of every private family can scarce be folly in that of a great nation ?" But when the early economists refused to consider that saving might be a stumbling block... | |
 | John Rogers Commons - Business & Economics - 688 pages
...preferences, So does Sismondi, But the difference between him and Smith lies rather in Smith's assumption that "what is prudence in the conduct of every private...family, can scarce be folly in that of a great kingdom" tbook 4, chapter 2, Wealthi Sismondi rejects this assumption, but he does so in an ambiguous way, never... | |
 | Peter Minowitz - Business & Economics - 1993 - 376 pages
...eliminating the domestic monopolies created by prohibitions on foreign imports, is the proposition that "what is prudence in the conduct of every private...family, can scarce be folly in that of a great kingdom." That is, one should not attempt to produce things that can be purchased more cheaply abroad (WN IV.ii.n-12).... | |
 | Business & Economics - 1994 - 2018 pages
...the beltway know intuitively: you can't indefinitely spend beyond your means. As Adam Smith observed, what is prudence in the conduct of every private family can scarce be folly in that of a great, kingdom. The issue of deficit spending goes to the very heart of constitutional government. If our legitimacy... | |
 | Business & Economics - 1994 - 1428 pages
...the beltway know intuitively: you can't indefinitely spend beyond your means. As Adam Smith observed, what is prudence in the conduct of every private family can scarce be folly in that of a great, kingdom. The issue of deficit spending goes to the very heart of constitutional government. If our legitimacy... | |
 | William R. Keech - Business & Economics - 1995 - 260 pages
...itself. Such arguments are likely to be based on aphorisms, such as Adam Smith's analogy with households: "What is prudence in the conduct of every private...family, can scarce be folly in that of a great kingdom." The most convincing arguments that deficits are harmful hinge on the consequences of deficits, rather... | |
 | United States. Congress. House. Committee on the Budget - Business & Economics - 1996 - 212 pages
...DEBT LIMIT AND THE MISUSE OF TRUST FUNDS REPORT TO THE SPEAKER Section 1: The effects of Federal debt "What is prudence in the conduct of every private...family can scarce be folly in that of a great kingdom." Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations INTRODUCTION of Nations... | |
 | Donald Winch - History - 1996 - 452 pages
...52 It followed that 'every frugal man [was] a publick benefactor'. 53 Moreover, by maintaining that 'what is prudence in the conduct of every private...family, can scarce be folly in that of a great kingdom', Smith, in this case at least, collapsed one of Mandeville's double truths into a single one. 54 By... | |
 | Douglas A. Irwin - Business & Economics - 1996 - 44 pages
...countries like consumers should thus seek out the lowest price in the market through free trade: "\Vhat is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom." 7 The image conveyed by Smith as well as by later econontists is straightforward: the consumer is a... | |
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... and to purchase with a part of its produce, or, what is the same thing, with the price of a part of it, whatever else they have occasion for. What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. 
