When Hume and Adam Smith prophesied that a little increase of national debt beyond the then amount of it, would probably occasion bankruptcy; the main cause of their error was the natural one, of not being able to see the vast increase of productive power to which the nation would subsequently obtain.
Thomas Robert Malthus “An Essay on the Principle of Population, Or, a View of Its Past and Present Effects on Human Happiness: With an Inquiry Into Our Prospects Respecting the Future Removal Or Mitigation of the Evils which it Occasions”, Cambridge University Press
