Economic Dynamics According to the Thoughts of the Founders

The text conveys that it is more sustainable for the beginnings of development to rest on personal accumulation rather than loans. Savings followed by productive investment seems to be a great invention. Logic imposes a canonical sequential order: production—distribution—exchange—consumption. Straying away from it fuels dangerous populism. In the labour-capital relation, complementarity, not substitution, sets the pace. This idea renders obsolete the abolition of inheritance rights. It is argued that dynamics is desired. Stationarity is just a moment of respite and not the end of the road. In reference to the founders, degrowth appears to be suspicious. Interestingly, in the founder’s words, “a country can only be ruled imperfectly by foreigners”. To be noted that for the classicists, happiness goes beyond material aspects, but poverty does not bring happiness.