Accounting for the wealth of Denmark

a case study of Smithian growth using the emergence of modern accounting in Danish dairying

Markus Lampe*, Paul Sharp

*Kontaktforfatter for dette arbejde

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

Resumé

The idea of “Smithian growth” rests on a “natural” development out of agriculture through capital accumulation, and the division of labour. We confront these concepts with an “historical experiment” and the case of Danish agriculture in the nineteenth century. Specifically, we look at how accounting was used to promote specialization, ultimately in butter production, leading to the massive increases in productivity that Smith predicted. We also observe the emergence of Smithian “philosophers”. This ultimately led to the capital-intensive industrialization of Danish agriculture through butter factories, and general development. We argue that this establishes the historical relevance of Smith’s theories.

OriginalsprogEngelsk
TidsskriftEuropean Journal of the History of Economic Thought
Vol/bind26
Udgave nummer4
Sider (fra-til)659-697
ISSN0967-2567
DOI
StatusUdgivet - 4. jul. 2019

Fingeraftryk

Wealth
Denmark
Agriculture
Productivity
Experiment
Capital accumulation
Division of labor
Industrialization
Factory

Citer dette

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Accounting for the wealth of Denmark : a case study of Smithian growth using the emergence of modern accounting in Danish dairying. / Lampe, Markus; Sharp, Paul.

I: European Journal of the History of Economic Thought, Bind 26, Nr. 4, 04.07.2019, s. 659-697.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

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