Банкротство игрока

Сан-Франциско – Начиная со времен Адама Смита (1776 г.) и заканчивая примерно 1950-ми гг., экономисты считали, что капитал абсолютно необходим для экономического роста. Вам также были нужны несколько хороших базовых институтов. «Неприкосновенность собственности и сносное отправление правосудия», - как выразился на этот счет Смит.

Считалось, что если данные фундаментальные институты в порядке, то землевладельцы, торговцы и производители станут инвестировать и развиваться. Инвестируя и развиваясь, они приумножат основной капитал: «Во всех странах, где существует сносная неприкосновенность [собственности], любой здравомыслящий человек попытается задействовать любое доступное ему количество [основного] капитала для обеспечения либо сегодняшнего благоденствия, либо будущих прибылей... Нужно быть просто ненормальным, чтобы в условиях сносной неприкосновенности собственности не задействовать весь имеющийся капитал, будь то свой собственный или позаимствованный у других …»

Увеличение основного капитала означало более насыщенные рынки, более ровное разделение труда и более продуктивную экономику. «Богатство народов» обеспечивалось высокой продуктивностью общества, основанной на развитой системе разделения труда.

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