A Great Deal of Ruin in a Nation

In late 1777, Adam Smith received news of General Burgoyne's defeat at Saratoga, promising calamity for Britain's war effort in America. His correspondent expressed deep concern that the nation was ruined. "There is a great deal of ruin in a nation", was the great economist's calm reply. In this lecture and discussion, Professors Supple and Offer, two of Britain's most distinguished economic historians, will use Smith's sanguine assessment as a starting point for an analysis of the post-war economic development of the United States. Professor Barry Supple, CBE, FBA, is Emeritus Professor of Economic History at Cambridge. Professor Avner Offer, FBA, is the former Chichele Professor of Economic History at Oxford.