The great 18th-century economist Adam Smith wrote, "Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things ' Explain how each of the three conditions Smith describes would promote economic growth. To find additional study resources, visit cengagebrain.com, and search for "Mankiw."

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Production And Growth
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The great 18th-century economist Adam Smith wrote, "Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things ' Explain how each of the three conditions Smith describes would promote economic growth.

To find additional study resources, visit cengagebrain.com, and search for "Mankiw."

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