Question

Why france was known as the museum of economic errors?

Answer 1

The Person who said that France is a political prison and Museum of Economic error is Adam Smith. There were various ideas which were found in the Wealth of the Nations and Adam Smith was the first to express the ideas. Adam Smith is a political prison and Museum of Economic errors.

Answer 2

Answer:

France was called the museum of economic errors by Adam Smith. Three reasons behind it were:

A. The extravagant lifestyle of the Royal family, the numerous staffs and the accompanying economic and financial corruption.

B. Huge borrowing to meet the massive budget deficit.

C. The coffers being empty and huge expenses, only 1/4th of the revenue was put to use for benefit of the common man.

Explanation:

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