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Both Carl Menger and Alan Young discuss Adam Smith's thesis on economic
progress.
Menger, Carl (1981). Principles of Economics. Translated by James Dingwall
and Bert Hoselitz. New York: New York University Press. (Originally
published in German in 1871)
Young, Allyn A., "Increasing Returns and Economic Progress," Economic
Journal, December, 1928.
Pat Gunning
American University of Sharjah
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