Progress and Entrepreneurship
نویسنده
چکیده
versity. The author gratefully acknowledges helpful comments from two anonymous referees of this journal. 1Prior to Smith, the mercantilists were interested in this same question and thought that a nation’s accumulation of gold and silver increased its wealth, and the physiocrats argued that wealth is the product of the land, so encouraged agriculture. Thus the issue was raised before Smith’s monumental treatise was published, and one of Smith’s motives for writing The Wealth of Nations was to try to correct what he perceived as errors in the views of these earlier economists. 2See Galor and Weil (2000, p. 808) for estimates that per capita economic growth began only after 1500, and was very modest until about 1820. PROGRESS AND ENTREPRENEURSHIP
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