markitect-main/examples/infospace-with-history/output/entities/private-misconduct-versus-public-prodigality.md

Private Misconduct Versus Public Prodigality

Private Misconduct Versus Public Prodigality

Definition

The distinction between individual economic errors and government extravagance as causes of reduced productive funds. While private misconduct rarely affects great nations due to compensation by others' good conduct, public prodigality employing revenue in maintaining unproductive hands can significantly diminish funds for productive labour.

Source Chapter

Book II, Chapter 3

Context

Smith argues that public prodigality is more dangerous than private misconduct because it operates at scale and is not compensated by others' frugality, potentially leading to national impoverishment.

Economic Domain

Regulation

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