Sneak Peak: Chapter 4

//// SNEAK PEAK  from Chapter 4 of Screwnomics ////


Here's a sneak peak of a passage from Chapter 4:

“To understand better, we have to go back even further in time to the era just before the United States became a nation. I’ll be summing up two centuries of economic thought here in a few pages, so keep in mind I’m generalizing a great deal and will give it all short shrift. But in bare outline, classical economics describes the first modern economists of the eighteenth century. Yes, I know it’s confusing—usually “classical” doesn’t also mean modern.

Adam Smith, who published The Wealth of Nations in 1776, was part of a small circle of upper-class men who knew each other well. The early scholarly association of Smith, David Ricardo, Thomas Malthus, and a French group that called themselves physiocrats was a little exclusive club. Each man had a personal interest in the money to be made by knowing men who made money….”