"In short, in The Theory of Moral Sentiments, Smith talks about many things that in the last 30 years or so have become major issues in behavioral economics. For example, a theme through many parts of the book is the importance of reward and punishment (something we will pick up on in chapter seven). Another theme is the influence of custom and fashion (which we will pick up in chapter five). In my mind Smith comfortably does enough to be the father of behavioral economics."
Sayfa 5 - Routledge, First Published 2011.·Kitabı okudu
For about four-fifths of the time included in the 30 years of gold-standard history reviewed in this chapter, most of the world was on a paper-money standard. The only two important nations that stand as exceptions to this statement are China, in which the silver standard ruled for about two-thirds of the time and the paper-money standard for the other third, and the United States, in which the gold standard prevailed for about 90 per cent of the time.