Adam Smith’s political economy of what we might call emotional capital formation is a natural ending point for this book. It sums up how the pamphlet debate arguing for economic growth caused by currency creation that began in the seventeenth century eventually achieved fruition. In the 1650s, authors like Samuel Hartlib or William Potter saw a country in which increased population growth had led to unemployment and increasing poverty. Their proposed solution was to increase employment in industry by first increasing agricultural production and then using the increase to employ extra bodies in industrial production. But they realised that this could not be done within the confines of the informal oral credit system that had developed in England up until that time. Too often employers were unable to find enough currency to pay workers outside of agriculture, where they could be paid in kind. As a result, the poor had to purchase goods on credit, often at higher prices because they were not trusted, while periods of unemployment could lead to them not being able to purchase enough to keep themselves properly fed. Thus, it was proposed that some form of paper currency was needed to overcome this problem by essentially increasing liquidity.