D.S. Chernavsky Model. Part 1. Adam Smith

DOI: 10.33917/es-2.188.2023.98-107

This article considers the system of views of D.S. Chernavsky on the economics of Adam Smith. It turns out that the famous English economist was a convinced statesman. In his famous work “On the Nature and Causes of the Wealth of Nations” he substantiates the need for price regulation, limiting interest rates and also considers transnational corporations the greatest evil in the economy (he calls them “large joint-stock companies”). A. Smith convincingly proves that money is a tool for generating income, but not the income of society itself.

The appendix to the article presents a mathematical model of the loan capital functioning, developed by the author under the guidance of D.S. Chernavsky.


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