Prosperity in 1775
Posted: Thu Nov 21, 2019 8:41 am
How well off were agricultural labourers in Britain in 1775? Adam Smith thought free trade had brought prosperity, whilst Thomas Malthus saw misery due to overpopulation. A century later it was the free-marketer Marshall who saw misery back then which had since been ameliorated by economic growth, whilst Alfred Russell Wallace thought labourers had been well off, but had suffered with the growth of capitalism. Who do you believe?