First Published in 1995. Routledge is an imprint of Taylor & Francis, an informa company.

First published in 1996. Routledge is an imprint of Taylor & Francis, an informa company.

This volume presents critical writings on the work of the later mercantilists. Sir Josiah Child was elected a governor of the East India Company in 1681. His reputation as an economist rests on his book 'A New Discourse of Trade' published in 1693. His work stimulated a wide range of discussion of such topics as interest rates, population, wage policy, poor relief and colonization. Despite many liberal elements in his thinking, he was a typical Mercantilist in his preference for administrative (...) solutions to economic problems. John Locke, best known for his work on political philosophy, made a major contribution to the debate on the rate of interest in his essay 'Some Considerations of the Consequences of the Lowering of Interest and Raising the Value of Money' (1692). The central theme of that pamphlet was that the rate of interest, being the price for the hire of money, is determined by the demand for and supply of money, which Parliament is powerless to affect. Locke's other major contribution to economic thought was the so called labour theory of private property contained in the 'Two Treaties on Government' (1690), a classic in the history of political philosophy. (shrink)

I argue that the word mercantilism, born in the beginning from a nasty rhetorical move by Adam Smith, still preserves so much evocative power as to be used emblematically as a name for a whole historical period because of its natural use as a label for aggressive and unfair economic policies but, for analytic purposes we should bring to an end cross-purpose talk between historians of ideas and historians of society.

Handbooks of the history of economic thought typically assume a strict fault line between scholastic economics and mercantilism. Historically, the distinction between the two streams of thought was less evident—especially when it came to the style of argumentation, in which there is much continuity between the scholastic doctors and early mercantilists. However, although the latter did not employ the scholastic method, both traditions frequently called upon classical authorities to strengthen their arguments. What is striking is the high regard for (...) Aristotle among the late-sixteenth and early-seventeenth century English mercantilists. By way of illustration, this article reviews the surprising role of Aristotelian ideas, primarily from the Metaphysics and Physics, within the debate between Gerard Malynes and Edward Misselden on England’s economics crisis. (shrink)

An examination of the relationship between philosophical and economic thought in the nineteenth century, Economy and Self explores how the free enterprise theory of Classical Economy influenced and was in turn influenced by the philosophical notion of alienation common in the writings of the age.

L’analyse des traités de marchands publiés en Angleterre pendant la première moitié du XVIIe siècle permet de faire apparaître les enjeux théoriques et pratiques du discours sur le commerce à un moment clé de l’histoire économique. Alors que l’essor du commerce international renforce leur pouvoir, les marchands élaborent un discours de légitimation visant à inscrire les pratiques commerciales dans un champ social et politique, en ayant principalement recours à des arguments philosophiques et moraux. Cependant, ces traités font apparaître les intérêts (...) divergents de leurs auteurs, plutôt qu’ils ne reflètent les intérêts d’une classe homogène. (shrink)

Pour justifier leur activité, les premiers mercantilistes anglais présentent le commerce comme une activité naturelle, qui favorise la paix entre les nations et contribue au progrès de la civilisation. Ils ont en particulier recours à la lex mercatoria, notion héritée du Moyen Âge. L’idée d’un commerce mutuel de l’humanité, mise en avant dans les écrits de marchands, mais également chez un auteur comme Grotius, contraste ainsi avec les théories de la souveraineté liée à un territoire national chez des penseurs politiques (...) comme Francis Bacon, Thomas Hobbes et William Petty, ou à certains égards chez un juriste comme John Selden. Paradoxalement, alors que la constitution des empires coloniaux coïncide avec l’essor du grand négoce international, la liberté du commerce (free trade) est présentée par ses défenseurs comme une alternative à l’antagonisme entre les États et à la logique de domination induite par les théories modernes de l’imperium. Cette apparente contradiction entre la logique étatique et l’humanisme marchand – ou ce qui se présente comme tel – semble subsister dans les résurgences modernes de la lex mercatoria au XXe siècle. Pourtant, l’idée d’une source du droit indépendante de l’État et s’enracinant dans l’ancienneté des coutumes, l’uniformité des pratiques marchandes ou encore le jus gentium, relève en grande partie de la fable, et d’une construction idéologique visant à dissimuler la réalité des pratiques commerciales. De ce point de vue, la fable de la lex mercatoria joue très certainement un rôle important dans la constitution du topos du doux commerce et la promotion de la liberté des échanges par ceux qui en sont, directement ou indirectement, les principaux bénéficiaires. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:David Hume and Adam Smith: A Japanese Perspective by Tatsuya SakamotoEstrella TrincadoTatsuya Sakamoto. David Hume and Adam Smith: A Japanese Perspective. London and New York: Routledge, 2021. Pp. 297. ISBN 9780367683023. Hardback. £130.This book is a collection of essays and articles by the Japanese scholar Tatsuya Sakamoto. In the foreword, Ryu Susato, professor of the Faculty of Economics at Keio University, Tokyo, notes that in Japanese society Marxism (...) has been the dogma of the history of social and economic thought. As a consequence, Japanese society has been labelled as “collectivist.” In this context, only a privileged intellectual background allowed Sakamoto to find his own way, as he graduated from Keio University and was part of its faculty. The Faculty of Economics of Keio University has spread the academic culture of liberalism that descended from Yukichi Fukuzawa (1834–1901), a reformer and founder of Keio and one of the most influential liberal thinkers in Meiji Japan (1868–1930). In addition, the family background of Sakamoto and the interest of his mother in the English language left a mark on him. Sakamoto was one of the rare Japanese scholars to study abroad in the 1980s, in particular at the University of Glasgow for two years (1984–1986) under the academic guidance of Andrew Skinner. There, he took interest in biographical and bibliographical studies. During his initial research, he found on a note by George Chalmers some evidence for David Hume’s authorship of an anonymous review of Smith’s Theory of Moral Sentiments, published in the Critical Review of May 1759.1 Then, along with David D. Raphael, Sakamoto transcribed the material with a commentary in the Journal of the History of Philosophy2 (Chapter 6 of the reviewed book) and he published “Hume’s Early Memoranda and the Making of His Political Economy” in Hume Studies3 (Chapter 4). There, Sakamoto gives interesting insights on Hume’s Early [End Page 163] Memoranda of manuscripts published by Mossner.4 This manuscript compilation shows the desire of Hume to pursue a systematic discourse on political economy. These efforts resulted in a large number of works published by Hume from 1748 to 1757 and even after his death, in Essays, Moral and Political, in The Natural History of Religion, and in Political Discourses.Later, Sakamoto published various articles on Hume’s economic thought in English (Chapters 1 and 5). In addition, he published his first monograph in Japanese.5 He argued that the “civilized society”—an idealization of Western societies—which was thought to be a prerequisite in Japan for the socialist revolution, concealed the different eighteenth-century historical realities of European countries in which Hume and Smith lived. Sakamoto received for this monograph the Suntory Academic Prize for Social Sciences and Humanities in 1996 and the Japan Academy Prize in 2001. In his Japanese monographs, Sakamoto interprets Hume as a firm defender of modernity and civilization, using his empiricist theory to inspire the spirit of serving the public good of a civilized society. Hume is a main character of the historiographical odyssey of the conflict between order and liberty.6 Hume tried to bridge the gap between the practical empiricism of mercantilist literature7 and the normative rationalism of natural jurisprudence,8 developing the science of economics on a philosophical foundation.After a brief leave spent at Boston University under the care of Knud Haakonssen, Sakamoto coedited a collection of essays written by Japanese scholars9 (Sakamoto’s contribution is included in Chapter 3). Another of Sakamoto’s important contributions is Chapter 9 of this book, originally published in The Adam Smith Review in 2017.10 There, we learn of Yoshihiko Uchida (1913–1983), a Japanese historian of social thought who specialized in Smith and Marx, and paid much early attention to the Smith-Rousseau connection in his The Birth of Economic Science (never published in English). As Sakamoto says, Uchida’s original view of this great Scottish philosopher, Adam Smith, proves that scholars infuse new life into classical texts, no matter how distant they may be from the object of their study in space and time. Besides, by discussing in English previous Japanese scholars’ contributions, Sakamoto is... (shrink)

This paper presents a theoretical elaboration of the ethical framework of classical capitalism as formulated by Adam Smith in reaction to the dominant mercantilism of his day. It is seen that Smith's project was profoundly ethical and designed to emancipate the consumer from a producer and state dominated economy. Over time, however, the various dysfunctions of a capitalist economy — e.g., concentration of wealth, market power — became manifest and the utilitarian ethical basis of the system eroded. Contemporary capitalism, (...) dominated as it is by large corporations, entrenched political interests and persistent social pathologies, bears little resemblance to the system which Smith envisioned would serve the common man. Most critiques of capitalism are launched from a Marxian-based perspective. We find, however, that by illustrating the wide gap between the reality of contemporary capitalism and the model of amoral political economy developed by Smith, the father of capitalism proves to be the most trenchant critic of the current order. (shrink)

The international trading system remains a locus of fierce social conflict. The protesters who besiege gatherings of its managers—most famously on the streets of Seattle at the turn of the millennium—regard it with suspicion and hostility, as a threat to their livelihoods, an enemy of global justice, and their grievances are exploited by populist statesmen peddling their own mercantilist agendas. If we are to support the trading system, we must first assure ourselves that it can withstand moral scrutiny. We must (...) ensure that it works for and not against those whom it envelops; that it serves to emancipate, not ensnare. While there is an extensive literature addressing the economic and legal aspects of trade, the ethical questions its raises have escaped close inspection. This book contributes to resetting the balance. It grapples with moral quandaries relating to world politics, globalization, and international commerce, and recognizes that resolving these problems is essential if we are to move toward a world in which trade justice is a reality. (shrink)

Historians of science find it difficult to pinpoint to an exact period in which symbolic algebra came into existence. This can be explained partly because the historical process leading to this breakthrough in mathematics has been a complex and diffuse one. On the other hand, it might also be the case that in the early twentieth century, historians of mathematics over emphasized the achievements in algebraic procedures and underestimated the conceptual changes leading to symbolic algebra. This paper attempts to provide (...) a more precise setting for the historical context in which this decisive step to symbolic reasoning took place. For that purpose we will consider algebraic problem solving as model-based reasoning and symbolic representation as a model. This allows us to characterize the emergence of symbolic algebra as a shift from a geometrical to a symbolic mode of representation. The use of the symbolic as a model will be situated in the context of mercantilism where merchant activity of exchange has led to reciprocal relations between money and wealth. (shrink)

SummarySeventeenth-century thinking on the relationship between trade and state power was routinely conducted using the concept of state interests, which enabled users to conceive a Europe of competing states that managed the balance of power through trade and war. Poor interest management could arise from ignorance, error, or the divergence between the private interests of rulers and a state's true interests. The stakes of pursuing or neglecting true interest were high: the survival and prosperity of the state. The dominance of (...) ‘mercantilism’ as a historiographical category has obscured the role of interest in early modern thought. This paper examines the work of one of England's most prolific interest writers, Slingsby Bethel, to demonstrate the importance of reading interest writings without recourse to mercantilism. The two focuses are, first, how the rhetoric of counsel was used to defend an ordinary subject's presumption to comment on state affairs and, second, the capacity for interest writers to construe the rise and fall of state power in terms of good laws and statesmanship. (shrink)

This work argues that the usurpation of the Haitian Revolution by the Affranchis, petit-bourgeois black (creole) landowners and mulatto elites, from the Africans on the island seeking total freedom from the mercantilism and liberalism of the capitalist world-system under European hegemony, rendered it (The Haitian Revolution) an insignificant black bourgeois revolution focused on racial vindicationism and equality of opportunity, recognition, and distribution with whites within the denouement of the aforementioned systemicity. The latter move placed the Revolution on par with (...) the American one, which was a counterrevolution to the abolition of slavery and the slave trade under mercantilism and liberalism. The work concludes, had the Revolution remained under either the directorship of the African leadership seeking to implement their (communal) lakou system throughout the island, or the Kojèveian synthesis of Dessalines, it would become a significant revolution offering a counter systemicity to the Protestant/Catholic Ethic and the spirit of capitalism under European and American hegemony. (shrink)

ABSTRACT In the following pages we will address the internal and external dimensions of the Hegelian conceptualization of political economy in the analytical context of the Rechstphilosophie of 1820. We will understand by internal dimensions the moments proper to the Hegelian argument in its logical coherence and consistency and, by external dimensions, the validity and representativeness of that same argument in relation to the problems of political economy in the late eighteenth and early nineteenth centuries. To this end, we will (...) focus especially on the relationship between capitalism and mercantilism in its physiocratic and cameralist forms in order to establish the logical and historical horizon of the Hegelian exposition. Finally, on the basis of this relationship and its conceptualization, we will summarily address the limits of the meaning of political economy as a representation of the present in Rechtsphilosophie. (shrink)

In the paper we analyze the educational rationality closely associated with a neoliberal cultural logic that causes various lifestyles which seek only the satisfaction of unreal or symbolic needs where the ideal of education appears as one more among others. Furthermore, we consider educational policies subordinated to an expansive cultural logic of post-industrial capitalism, having as a historical reference the neoliberal turn of the Peruvian educational policy and a symbolic structure deeply established in the psyche of the society transformed by (...) the social pathologies of mercantilism and consumerism. This insight will allow us to propose a socio-philosophical critique of postmodernity. (shrink)

Hume's economic arguments, While grounded in the thought of his mercantilist contemporaries, Were none the less novel. They helped change the conception of work and the worker during the eighteenth century. Hume's psychological egalitarianism and his assumption of an 'achievement motive' amongst the laboring classes attacked the traditional view of the poor as unmoved by economic incentives to work. His arguments opened the way for a reconsideration of public policy when they were incorporated by adam smith into a highly articulated (...) vision of social life in an achieving community of psychic equals. (shrink)

A new recommendation has appeared in the Ethnic Dining Guide of Washingtoon, capital of the Unconscious States of Amurrica, put out by Tailor Coward III, Director of the Mercantilist Center and Professor of Shriekonomics at George Madison University, which is scattered across several municipalities in the northern Vagina suburbs of Washingtoon. Tailor’s father was from the clothier branch of the famous English playwright’s family, but had to flee to Amurrica when his stitch in time saved only eight. After marrying a (...) nice girl from Old Teashirt, they moved to Hoople, Southern North Dakota, where Tailor would become the regional chess champion at age 6, only to be defeated some years later by the 4-year old I.M.A. Bach, great-great-great-greatgreat-great-great grandson of P.D.Q. Bach, who had studied obscure gambits with Bobby Fischer’s dog. (shrink)

L’article procède à un cheminement en quatre étapes : la première traite de la question de la mesure économique des productions nanométriques, dans une dynamique de filière et de convergence multidisciplinaire, champ d’étude de la méso-économie ; la seconde fait référence aux origines de l’approche mercantiliste de l’économie et à ses conséquences sur l’économie politique des matériaux avancés, procédés et services du domaine des nanotechnologies et matériaux avancés manufacturés ; la troisième étape recherchera les points d’appui sur lesquels l’économie politique (...) fait porter ses efforts pour développer la production et les échanges induits par les nanosciences et techniques en s’appuyant sur deux exemples ; la quatrième et dernière étape examine les barrières réelles au développement économique induit par les nanotechnologies, telles que les conflits d’intérêts entre acteurs autour de la question de la traçabilité les ont progressivement révélées dans les dialogues entre parties prenantes. (shrink)

Resumen Las concepciones de hombre y trabajo están íntimamente interconectadas dentro del pensamiento de Miguel de Unamuno. La persona, sin reducirse a ninguna forma de instrumentalización política y económica, no es un mero medio, sino un fin en sí misma. Unamuno no escamotea su lucha en contra del capitalismo y de la transformación de lo económico y de lo político en mero valor de cambio. No nos extraña, pues, que nuestro autor, no conformándose con los efectos del materialismo mercantilista, proponga (...) unas concepciones de política y de sociedad más humanas capaces de dignificar la vida de cada hombre concreto de carne y hueso. Es en este marco teórico-conceptual en el que Unamuno conceptualiza el trabajo como vocación y como forma de realización humana, desvinculándolo de la perspectiva mercantilista vigente en su época. El propósito del presente estudio es, pues, descubrir la íntima relación que une la concepción unamuniana de hombre con su concepción del trabajo como forma de formación y libertad humanas.The conceptions of man and work are intimately related in the thought of Miguel de Unamuno. The person, not reduced to any form of political or economic exploitation, is not a mere means but rather an end in itself. Unamuno does not shirk from his struggle against capitalism and the transformation of economics and politics to mere exchange value. It is not surprising therefore that our author, not content with the effects of mercantilist materialism, should propose a more human conception of politics and society capable of dignifying the life of each specific man of flesh and blood. Within this theoretical-conceptual frame, Unamuno conceptualizes work as vocation and as a form of human fulfilment, disassociating it from the mercantilist perspective that prevailed in his time. The purpose of the present study is thus to uncover the intimate relation that joins Unamuno’s conception of man with his conception of work as a form of human education and freedom. (shrink)

Parmi les nombreuses controverses qui affectent l’étude de la pensée économique naissante, la moindre n’est sans doute pas celle qui porte sur l’opportunité même du concept de « mercantilisme ». Les auteurs regroupés sous ce terme par les inventeurs de cette dénomination ne l’ont-ils pas été par leurs adversaires (Quesnay, Smith, E. F. Heckscher) ou par leurs défenseurs (G. Schmoller, W. Cunningham) qui, de surcroît, ne leur sont pas contemporains? Cette contribution se propose par conséquent de restituer la genèse du (...) concept polémique de « mercantilisme » et de présenter une synthèse des critiques qui lui ont été opposées (D. C. Coleman, J. Viner...). La question délicate de l’articulation entre théorie et pratique incitera à prendre la mesure des enjeux philosophiques soulevés par l’élaboration conceptuelle : ce sont alors les liens théoriques complexes entre machiavélisme et mercantilisme qui seront mis en lumière, afin de comprendre par quelles médiations la théorie politique de la raison d’État a pu trouver un champ d’application privilégié chez les auteurs et les acteurs dits mercantilistes. (shrink)

This book examines the concept of public interest against the background of English politics from the Civil War to the coming of the Hanoverians. These years witnessed both the rise of the modern notion of the public interest as a part of ordinary political language and the growth of a social philosophy of individualism. The new ideas challenged the _status quo_, based on order, reason of state and national power, in the name of legitimate self-interest and respect for the rights (...) of the private person. In presenting a complex set of ideas in their historical context, the author examines both abstract philosophies and the issues of the day as recorded in press, pulpit and law courts. A chapter devoted to economic thought includes a re-assessment of the social assumptions of mercantilism. (shrink)

While Thomas Hobbes is not typically cited as a philosopher concerned with economic inequality, there is a great deal of evidence in his writings to suggest that he was aware of inequality and worried about its effects on the commonwealth. This essay first contextualizes Hobbes in the development of the 17th-century English political economy to understand the mercantilist milieu that might have shaped Hobbes’s thoughts. Second, it then explores Hobbes’s thoughts on wealth, poverty, and inequality, as outlined in his major (...) political works – revealing distinctively Hobbesian grounds for understanding these phenomena. Third and finally, it explores Hobbes’s constructive political philosophy for means by which he might offer prescriptions for addressing them. (shrink)

Book IV of Adam Smith's Wealth of Nations concerns two rival economic theories, Mercantilism and Physiocracy. The latter, François Quesnay's system, occupies only the ninth and final chapter, and it begins with a stunning dismissal. Yet, fifteen pages later, Smith praises this theory to the skies. That cries out for explanation. Like Mercantilism, Smith's system emphasizes commerce, whereas Quesnay's is confined to agriculture. But like Physiocracy, Smith's system is built on individual liberty, whereas Mercantilism is one of (...) government control. Despite his initial put-down, Smith is naturally inclined more toward Quesnay's philosophy. And the main thesis of my paper is to suggest one reason for this that has not previously been brought to light, and that can explain Smith's extravagant praise for it. Quesnay employs a Newtonian scientific method different from the one emphasized in Smith's early ‘Astronomy’ treatise, a method Smith first prominently introduced a decade after his meetings with Quesnay, in Wealth of Nations and Smith's eulogy for Hume, and in the sixth edition of his Theory of Moral Sentiments. (shrink)

This article explores Adam Smith's (1723-90) cosmopolitanism by examining his conception of the ideal global regime and his attitudes to classical cosmopolitanism, British imperialism, American independence, war, mercantilism, benevolence, global integration, specialization, patriotism and his own alleged nationalism. It is argued that Smith shares with the Stoics the ideal of a world community but his cosmopolitanism is based, not on the sympathetic workings of universal benevolence, but on mutual enablement and the desire for and satisfaction of exponential material enrichment. (...) Such a state precludes conflict and territorial rivalry. Patriotism will not disappear but will be moderated by a pacific desire for prosperity via free trade. Eventually fierce nationalistic sentiments and intense alliances between security allies will be subdued by a development-induced aversion to conflict and the habits of amicable strangership underlying commercial cosmopolitanism. The article outlines the efficient mechanisms by which this is to be achieved and, in so doing, shows why, for Smith, economic cosmopolitanism is at once desirable, necessary and natural. (shrink)

In this chapter, Michael Quinn argues that although Bentham’s only works on international trade were discussions on “the balance of trade” and “colonial trade,” these works reveal several new aspects of Bentham’s broader political economy. Like Smith, Bentham considered international trade to be mutually beneficial and strongly criticized mercantilist fallacies concerning balance of trade and the fetishization of precious metals. However, Bentham’s views differ from Smith’s on the issues of paper money and inflation. The chapter explains Bentham’s struggles to combine (...) elements of both commodity and credit theories of money in a coherent package. (shrink)

Summary In his novel The Adventures of Telemachus, François de la Mothe-Fénelon (1651–1715) presents a utopian society, Boetica, in which the role of luxury, war and trade is extremely limited. In unreformed Salentum, on the other hand, Fénelon shows the opposite image, one in which the three elements reinforce each other in a fatal feedback-loop. I analyse the relationship between luxury, war and trade in the Telemachus and I sketch the background to Fénelon's views, with special attention to the military (...) expansion and the mercantilism of Louis XIV, Fénelon's quietist spirituality, and the development of the concept of self-interest in seventeenth-century philosophy by mechanicist philosophers and economic thinkers. (shrink)

Hobbes intéresse l’économiste de deux manières. La première consiste en une lecture de Hobbes avec les lunettes de l’économiste d’aujourd’hui. Il fonde, avant Locke, le lien social sur l’échange et le contrat ou la convention. Mais, à la différence de la voie qu’Adam Smith empruntera ultérieurement, le programme hobbésien place le pouvoir au cœur de sa réflexion. Il faut également retenir l’analyse des coalitions menée par Hobbes, particulièrement celle des coalitions autoritaires (l’Union se distinguant de la simple association ou Consent) (...) et de la république comme une grande coalition autoritaire, et être impressionné par la proximité de ses analyses de la formation du contrat social et de l’autorité avec les théories contemporaines de l’agence. En second lieu, Hobbes est un mercantiliste qui livre certaines observations économiques non dépourvues d’intérêt. Il s’agit principalement de ses analyses de la valeur et des prix et du chapitre XXIV du Léviathan intitulé « Of the Nutrition and Procreation of a Commonwealth ». Hobbes y traite successivement de la production (plenty), étudie ensuite sa répartition (distribution) et ce qu’il nomme la digestion (concoction) ou transformation des richesses réelles en argent. Enfin vient l’acheminement (Conveyance) ou circulation monétaire du flux nourricier dans le corps de la république. (shrink)

It is widely believed that John Maynard Keynes wrote The Economic Consequences of the Peace to protest the reparations imposed on Germany after the First World War. The central thesis of this paper is that Britain’s war debt problem, not German reparations, led Keynes to write The Economic Consequences of the Peace. His main goal at the Paris Peace Conference was to restore Britain’s economic hegemony by solving the war debt problem he helped to create. We show that Keynes was (...) responsible for many of the most notorious aspects of the reparations section of the Treaty, and he crafted his proposals in light of mercantilist theories designed to keep Germany relatively poor after the war. His desperate desire to solve Britain’s war debt problem, mixed with his mercantilist ideas, inspired him to write The Economic Consequences of the Peace. (shrink)

If Hume is considered cosmopolitan in his ethics at all, he is said to be so through his anti-mercantilist approach to commerce. Prevailing commercial interpretations attribute to Hume a cosmopolitanism that is best described as instrumental and supervenient. I argue that Hume’s principles lead to a cosmopolitan ethic that is more demanding than commercial interpretations recognize. Hume’s cosmopolitanism is more than merely supervenient and its instrumentality is such that cosmopolitan regard becomes inseparable from healthy patriotic concern. I show sympathy and (...) duty, not merely justice, central to Hume’s cosmopolitanism and address how Hume’s moderate cosmopolitanism might be enacted in society. I suggest Hume’s view can contribute to contemporary cosmopolitan discourse, aiding both those forms with which it is consonant and the practical ends of otherwise opposed, Kantian forms. (shrink)

Despite having been underlined as contrary to established fact, the myth that there is a causal link between Protestantism and the emergence of capitalism persists in the popuar imagination as well as the academy. This article illustrates where Max Weber’s theory contradicts all the available historical evidence concerning the emergence of free economies in the West. It shows not only where Weber’s theory is unable to account for the emergence of capitalist practices and thinking before the Reformation, but also the (...) manner in which capitalism’s development in the post-reformation era contradicts Weber’s theory. It then turns to illustrating the ways in which medieval Catholicism contributed to the emergence of the cultural and institutional prerequisites of post- Reformation capitalism, and the manner in which post-Reformation political and religious developments contribute to the emergence of merchantilist and protectionist practices that inhibited economic liberty.Bien qu’ayant été considéré comme contraire au fait établi, le mythe selon lequel il y aurait un lien causal entre le Protestantisme et l’émergence du capitalisme persiste dans l’imagination populaire aussi bien que dans le corps académique. Cet article illustre où la théorie de Max Weber est en contradiction avec toutes les évidences historiques disponibles concernant l’émergence des économies capitalistes en Occident. Il montre non seulement où la théorie de Weber est incapable de prendre en compte l’émergence de pratiques capitalistes et des pensées avant la Réforme, mais aussi la manière dont le développement du capitalisme durant la période suivant la Réforme contredit la théorie de Weber. Il illustre ensuite les manières dont le catholicisme médiéval contribua à l’émergence des pré-requis culturels et institutionnels au capitalisme de l’ère qui suivit la Réforme, et la manière à travers laquelle les développements politiques et religieux postérieurs à la Réforme contribuèrent à l’émergence de pratiques mercantilistes et protectionnistes qui inhibèrent la liberté économique. (shrink)

The title of this article refers to one of the best-known essays written by David Hume, That Politics may be reduced to a Science. Hume assumed that politics was a science because it admitted of some general truths, which could not be varied by human beings. He adopted a similar stance, albeit indirectly, in the case of economics, discovering several general truths concerning the origins of wealth, money and international trade. At times, however, he was far from being consistent and (...) this undermined these truths. Consequently, it can be argued that, from his perspective, economics was a science on a theoretical level, but it lost this character at a more practical level. Similar doubts can be raised when it comes to Hume’s role in the history of economic thought. In some respects he was an original thinker, but several of his key concepts resembled to some extent ideas that had been put forward by ‘mercantilists’, especially those ‘mercantilists’ who were active in his native Scotland in the first decade of the 18 th century. (shrink)

The article investigates the astonishing volte-face that Timon performs in Shakespeare and Middleton's Timon of Athens. The main character is not, as is often claimed, unaware of what is going on around him, he is not simply the naïve victim of his avaricious guests, but rather complicit in his own delusions. My reading is informed by two different theoretical concepts: Thorstein Veblen’s concept of “conspicuous consumption” on the one hand, and Octave Mannoni’s concept of “croyance” on the other. By combining (...) these two distinct theories, I want to account for the characteristics of both Timon’s individual and public behaviour, and its radical change between Acts 1–2 and Acts 3–5 of the play. I argue that in Timon of Athens, Shakespeare and Middleton explore the different forms of capital and its limited convertibility in the early modern mercantilist society. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:154, DAVID HUME'S PRACTICAL ECONOMICS As Professor Eugene Rotwein emphasized in his introduction to David Hume: Writings on Economics (Madison, 1955), the philosopher made his observations on the eve of the industrial revolution in a period of accelerating change. Very often — as in the latter half of the seventeenth century — times of flux and turmoil call forth Utopian thinkers, who propose the creation of hierarchical, communal, authoritarian (...) societies, often patterned after a supposed golden 2 age. Hume emphatically rejected Utopian schemes of this kind. "All plans of government which suppose great reformation in the manners of mankind," he said, 3 "are plainly imaginary." He repeatedly warned as well that "projectors" and visionaries would disrupt the balance in government between liberty and authority. Thus he could speak of or make reference to "the visionary system or ravings of Plato" (in The Republic), the ultimate impracticality of More's Utopia and James Harrington's The Commonwealth of Oceana, and the absurdity of Robert Wallace's theories on 4 population and the paper money schemes of John Law. Even the Utopian republics of Andrew Fletcher of Saltoun, the Scottish patriot whom Hume admired as "a man of undaunted courage and inflexible principles," were dismissed with the others on practical grounds. The key word we have extracted from Hume's economics is practicality. Much as Hume would have liked to have designed an empirical "science of man" — which, incidentally, would have permitted him to propose his own infallible scheme of political economy — he realized that his own attempts had fallen far short of his goal. Thus his nine essays devoted especially to economics: "Of Commerce," "Of Refinement 155. in the Arts," "Of Money," "Of Interest," "Of the Balance of Trade," "Of the Jealousy of Trade," "Of Taxes," "Of Public Credit," and "Of the Populousness of Ancient Nations," are cautious in approach and pragmatic in spirit. Most of these essays were specifically designed to challenge prevailing assumptions and Utopian grand schemes of one sort or another. In "Of Commerce," for example, Hume rejects the idea that a nation can achieve greatness as an agricultural utopia. In "Of Refinement in the Arts" he takes issue with certain religious thinkers who 7 denote luxury as evil. In "Of Money" he is critical of those who believe that an injection of money into O the economy will work long-term wonders, and in "Of Interest" he argues with those who reason that the 9 plenty of money leads to low interest rates. "Of the Balance of Trade" and "Of the Jealousy of Trade" are directed against the protectionist policies of the mercantilists, "Of Taxes" rejects the French physiocratic single tax on land, and "Of Public Credit" deplores the expedients of Lord Oxford's partisans to draw bills on posterity and imprudently 12 use public credit to create paper riches. Finally, he addressed his essay, "Of the Populousness of Ancient Nations" to a refutation of the doomsday thinking of 13 the Reverend Robert Wallace of Edinburgh. This is not to imply, however, that Hume's economic thought was merely negative, or that he believed governments could safely entrust their powers over the economy to an "invisible hand." Even Hume's advocacy of free trade (which his friend and pupil Adam Smith, of course, applied with less caution) left the government with room to maneuver. Hume was willing to employ both the market and authority in designs for human progress. In seeking his mix of "action, 156. consumption, liveliness and indolence," a contradictory, counter-poised economic actor, the individual, was not a simple pleasure maximizer, nor did the acquisition of wealth and luxury make him a villain. He was a person in whom the complex springs of action, the causes of labour, needed first one, now another counter-weight. Society benefited from both 14 free trade and from tariff. Hume believed that industrial development and the advancement of commerce were the springboards to progress and happiness. Less is less and more is more; Hume never got these simple verities mixed up. "The same age," he said, "which produces great philosophers and politicians, renowned generals and poets, usually abounds with skillful weavers, and ship-carpenters.... The spirit of the age... (shrink)

Terminally ill in 1776, Hume was relieved from anxieties over Smith's masterwork when it finally reached him on 1 April, and he gave it unstinted praise, though not without offering cogent criticism. The two‐part structure of WN is discussed in context. Books I and II are analytical and identify the principles, chiefly division of labour, which naturally lead to economic growth where the free‐market system, or something close to it, is adopted. Books III to V are historical and evaluative, focused (...) on what legislators, to whom the book is addressed, have done and should do to promote growth. This second part of WN assesses alternatives to the free‐market system, denouncing mercantilism's injudicious restraints and incentives, and Physiocracy's blindness to the benefits of industry and trade. Smith settles for some restrictions on individual economic freedom, to provide resources for society's chief needs identified as defence, justice, public works, and education, and he manifests grave concern about the mental torpor found in workers subjected to extensive division of labour. (shrink)

In the second half of the eighteenth century, in France there was an important attempt to renew the reflection on the practices of government of society. Opposing the Colbertist mercantilism of the previous century, the physiocracy is part of this debate by introducing a new way of rationalizing the political society and its practices of government, which develops around a notion of «natural order» which prescribes full freedom for economic subjects. Thanks to the support of the “regime of truth” (...) in the economic science, Quesnay and the physiocrats would propose an innovative form of modern “governmentality”, which in their thought is called despotisme. How can the notion of “despotism” coexist with the claim of maximum liberty for economic actors? The present article intends to answer this question, investigating the relationship that Quesnay and the physiocracy entertain with the birth of liberalism. (shrink)

In his main work, The Science of Legislation , the Neapolitan Gaetano Filangieri proposed a set of extensive political and cultural reforms. These reforms were necessary to free eighteenth-century societies from the remnants of feudal institutions that obstructed international peace and economic growth. Filangieri's ideas were shaped by the international political climate between the seven Years’ War and the eve of the French Revolution. Reinterpreting Montesquieu and Genovesi through the influences of French radical and Enlightenment thought , as well as (...) the economics of Hume, Verri and the Physiocrats, he concluded that European modernity was inherently contradictory.From this perspective Filangieri set out to force a clean break between the technical horizons of mercantilism and enlightened absolutism and a society based on civil rights, a fair distribution of wealth and resources, and free trade. Proper ‘scientific’ knowledge of the rules and principles of legislation would allow governments to balance out the natural and cultural factors that characterise individual states, and to identify the appropriate model for social and economic development. If all states acted on their proper interest, international free trade and peaceful competition between states would emerge and the potential for general economic growth be materialised. Thus, the natural equilibrium and ‘universal consensus’ among nations could be restored. (shrink)

The Reverend Dr John Beale, FRS, DD, and chaplain to Charles II, carried out a vigorous campaign in the early Royal Society for the reform of agriculture, trade, and public education-reforms which signalled his continuing commitment to the ideas not only of Bacon, but of Hartlib and Comenius as well. In addition to promoting orchard plantations and expanded commercial horticulture, he collaborated with Evelyn, Oldenburg, and Houghton to publish or publicize items on the improvement of agriculture and the national economy. (...) His later writings, including the unfinished manifesto ‘From Utopia’, also identify the ‘mercantilist’ thought of Thomas Mun as a crucial link in Beale's alignment of technology, socioeconomic reform, and the religious and ethical values of Christian humanism. (shrink)

This paper examines the reception of Dutch commercial ideas and institutions in continental Europe during the first half of the seventeenth century. Using printed and archival sources from France, Sweden and Denmark, it argues that it is more useful to examine how statesmen and thinkers adapted Dutch material to different local circumstances and changing political conditions than to search for a mercantilist approach to political economy. Dutch arguments were particularly important, because they focused attentions upon the just and expedient relations (...) between sovereignty and commerce. Replacing Hugo Grotius's Mare liberum in the contexts of the broader debate about the governance of commerce and of the politics of the Thirty Years War allows us to recover part of its further significance, for its polemical clarity allowed statesmen and scholars to refine more sharply their notion of commerce's relation to the state. (shrink)

ABSTRACT Since World War II, American presidents have consistently advanced a world free‐trade agenda, despite the fierce opposition of domestic interests threatened by free trade, and despite these interests’ ability to mobilize local pressure and nationalist sentiment against free trade in Congress. A theoretical resolution of these paradoxes would consider both the countervailing pressure of domestic interests that benefit from free trade and an international factor: namely, America’s dominance of world trade. This global dominance gives the United States “superpower” status (...) not only economically, but politically, enabling American presidents to get most of what they want in international trade negotiations. Consequently, they can afford to make tactical concessions to American mercantilist interests—defanging congressional opposition to free trade—because in international negotiations, these concessions can be turned into powerful levers against the barriers to free trade that are erected by countries desiring access to the immense American market. (shrink)