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Interventionism in the Era of Globalization
Pratical theory 9 Stanisław Kowalczyk, Roman Sobiecki Interventionism in the era of globalization Interventionism is a system of influ- entities, weakening of their competitive- ence of a nation state or an integration ness, which consequently can translate group on the economy as a whole or on into deterioration of the macroeconomic separate sectors, whose role is to allevi- situation in the long run. A manifesta- ate contradictions between the micro- tion of unreliability of interventionism and macroeconomic objectives. can also be the temptation to overuse the tools of interventionism to achieve strictly The tools used for this purpose are of political, party or electoral goals. There- economic, legal and administrative na- fore, the trick is to find the right relations ture (Sobiecki, 2015). More specifically between interventionism and the market – economic and legal, as well as admin- activity. istrative and legal, and sometimes persua- The beginnings of interventionism sive. Thus, interventionism is not an oc- date back to ancient times, when Athens casional and accidental influence of a state was fully supplied with the goods of for- through its institutions, but an ordered eign origin, which was the reason for the system subordinated to the achievement collapse of the domestic production. This of specified objectives. situation forced the introduction of duties Interventionism is necessary to achieve on imported goods to protect its own pro- reasonableness on a macroeconomic scale duction. It can, therefore, be concluded and to alleviate contradictions with the that it was a little taste of interventionism, approach to the reasonableness from the so it is as old as the institution of the state. -
Mill's "Very Simple Principle": Liberty, Utilitarianism And
MILL'S "VERY SIMPLE PRINCIPLE": LIBERTY, UTILITARIANISM AND SOCIALISM MICHAEL GRENFELL submitted for degree of Ph.D. London School of Economics and Political Science UMI Number: U048607 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. Dissertation Publishing UMI U048607 Published by ProQuest LLC 2014. Copyright in the Dissertation held by the Author. Microform Edition © ProQuest LLC. All rights reserved. This work is protected against unauthorized copying under Title 17, United States Code. ProQuest LLC 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106-1346 I H^S £ S F 6SI6 ABSTRACT OF THESIS MILL'S "VERY SIMPLE PRINCIPLE'*: LIBERTY. UTILITARIANISM AND SOCIALISM 1 The thesis aims to examine the political consequences of applying J.S. Mill's "very simple principle" of liberty in practice: whether the result would be free-market liberalism or socialism, and to what extent a society governed in accordance with the principle would be free. 2 Contrary to Mill's claims for the principle, it fails to provide a clear or coherent answer to this "practical question". This is largely because of three essential ambiguities in Mill's formulation of the principle, examined in turn in the three chapters of the thesis. 3 First, Mill is ambivalent about whether liberty is to be promoted for its intrinsic value, or because it is instrumental to the achievement of other objectives, principally the utilitarian objective of "general welfare". -
The Need for State in the Economy- Epistemological Approach
Annals of the University of Petroşani, Economics, 10(3), 2010, 291-300 291 THE NEED FOR STATE IN THE ECONOMY- EPISTEMOLOGICAL APPROACH ANCA-ŞTEFANIA SAVA * ABSTRACT: The aim of this paper is to discuss the need for state in the economy, in an epistemological viewpoint. It presents in a critical manner the ideas on the state of the mercantilism and physiocracy representatives, of the classical and Keynesian economists and of the so-called current „the new liberal orthodoxy”. It is noticed that the need for a minimal state, as a condition of proper functioning of the society, has been justified even by those who have criticized it (classical liberals), being recognized that a society can not be conceived anarchic and utopian. If during ’29-’33s, the philosophy of laisser-faire was replaced by the Keynesian doctrine, and ’70s have placed the welfare state in a crisis of legitimacy, starting from 2008 we can talk of a resurgence of the Keynesian paradigm, according to which government intervention is seen as a way to stimulate the economic recovery. KEY WORDS: Welfare-state; the minimal state; Keynesianism; macroeconomic policy; School of economic thought; classicism; monetarism JEL CLASSIFICATION: I38, H10, E12, E61, B10, B12, B52, E61 1. THE NEED FOR STATE INTERVENTION IN THE ECONOMY FROM THE MERCANTILISTS AND PHYSIOCRATS’ PERSPECTIVE Mercantilists were the first which made reference to the role of the state in the economy, paving the way for the assertion of physiocracy and classical liberalism doctrine. This particular school of thought specific for the sixteenth and seventeenth centuries has dominated the economic life in the theoretical and practical matter, until the mid-XVIII century. -
1 Xxxxx | Chapter X
XXXXX | CHAPTER X 1 • • • • Sample • • • • Economics madE simplE • • • • Sample • • • • * $ 3 4 + 2 % % 9 % $ = £ * £ 1 * € + %+ + % = $ * 3 =3 £ € *= £ 4 £ % ££* € + % 4 + + 1 5 % 7 8 £ £ = % * 2 $ € 1 % = $ 5 * $ 5 % £ Economics madE simplE How money trade and markets really work madsEn piriE * $ 3 4 + 2 % % 9 % $ = £ * £ 1 * € + %+ + % = $ * 3 =3 £ € *= £ 4 £ % ££* € + % 4 + + 1 5 % 7 8 £ £ = % * 2 $ € 1 % = $ 5 * $ 5 % £ HARRIMAN HOUSE LTD 3A Penns Road Petersfield Hampshire GU32 2EW GREAT BRITAIN Tel: +44 (0)1730 233870 Fax: +44 (0)1730 233880 Email: [email protected] Website: www.harriman-house.com First published in Great Britain in 2012 Copyright © Harriman House Ltd The right of Madsen Pirie to be identified as the Author has been asserted in accordance with the Copyright, Designs and Patents Act 1988. ISBN: 978 –0857 –1–91427 British Library Cataloguing in Publication Data A CIP catalogue record for this book can be obtained from the British Library. All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publisher. This book may not be lent, resold, hired out or otherwise disposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior written consent of the Publisher. No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading material in this book can be accepted by the Publisher, by the Author, or by the employer(s) of the Author. -
New Labour, Globalization, and the Competition State" by Philip G
Centerfor European Studies Working Paper Series #70 New Labour, Globalization, and the Competition State" by Philip G. Cemy** Mark Evans" Department of Politics Department of Politics University of Leeds University of York Leeds LS2 9JT, UK York YOlO SDD, U.K Email: [email protected] Email: [email protected] • Will also be published in Econonry andSocitD' - We would like to thank the Nuffield Foundation, the Center for European Studies, Harvard University,and the Max-Planck-Institut fur Gesellschaftsforshung, Cologne, for their support during the writing of this paper. Abstract The concept of the Competition State differs from the "Post-Fordist State" of Regulation Theory, which asserts that the contemporary restructuring of the state is aimed at maintaining its generic function of stabilizing the national polity and promoting the domestic economy in the public interest In contrast, the Competition State focuses on disempowering the state from within with regard to a range of key tasks, roles, and activities, in the face of processes of globalization . The state does not merely adapt to exogenous structural constraints; in addition, domestic political actors take a proactive and preemptive lead in this process through both policy entrepreneurship and the rearticulation of domestic political and social coalitions, on both right and left, as alternatives are incrementally eroded. State intervention itself is aimed at not only adjusting to but also sustaining, promoting, and expanding an open global economy in order to capture its perceived -
Emerging Powers and Emerging Trends in Global Governance
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Stephen, Matthew D. Article — Accepted Manuscript (Postprint) Emerging Powers and Emerging Trends in Global Governance Global Governance Provided in Cooperation with: WZB Berlin Social Science Center Suggested Citation: Stephen, Matthew D. (2017) : Emerging Powers and Emerging Trends in Global Governance, Global Governance, ISSN 1942-6720, Brill Nijhoff, Leiden, Vol. 23, Iss. 3, pp. 483-502, http://dx.doi.org/10.1163/19426720-02303009 This Version is available at: http://hdl.handle.net/10419/215866 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu This article was published by Brill in Global Governance, Vol. 23 (2017), Iss. 3, pp. 483–502 (2017/08/19): https://doi.org/10.1163/19426720-02303009. -
Michael Polanyi' Vision of Economics: Spanning Hayek and Keynes
MICHAEL POLANYI’ VISION OF ECONOMICS: SPANNING HAYEK AND KEYNES Documents de travail GREDEG GREDEG Working Papers Series Agnès Festré GREDEG WP No. 2019-41 https://ideas.repec.org/s/gre/wpaper.html Les opinions exprimées dans la série des Documents de travail GREDEG sont celles des auteurs et ne reflèlent pas nécessairement celles de l’institution. Les documents n’ont pas été soumis à un rapport formel et sont donc inclus dans cette série pour obtenir des commentaires et encourager la discussion. Les droits sur les documents appartiennent aux auteurs. The views expressed in the GREDEG Working Paper Series are those of the author(s) and do not necessarily reflect those of the institution. The Working Papers have not undergone formal review and approval. Such papers are included in this series to elicit feedback and to encourage debate. Copyright belongs to the author(s). Michael Polanyi’ Vision of Economics: Spanning Hayek and Keynes1 Agnès Festré Université Côte d’Azur, CNRS, GREDEG, France GREDEG Working Paper No. 2019-41 Abstract: This paper analyses Michael Polanyi’s vision of economics. We stress two major features: first, the radical opposition to central planning and his defence of self-organization as a superior mechanism for coordinating individual plans that he shared with Hayek; second, the strong support for state interventionism in order to fight unemployment and limit income inequalities that he borrowed from Keynes. Polanyi blended these two apparently contradictory influences and provided an original institutionalist approach, which has unfortunately been underrated in the economics literature. We argue that this approach is consistent with Polanyi’s intellectual background and more specifically, his view on tacit knowledge and his critical approach of liberalism. -
The Concepts of Economic War and Economic Conflicts in a Global Market Economy Fanny Coulomb, Liliane Bensahel, Jacques Fontanel
The concepts of economic war and economic conflicts in a global market economy Fanny Coulomb, Liliane Bensahel, Jacques Fontanel To cite this version: Fanny Coulomb, Liliane Bensahel, Jacques Fontanel. The concepts of economic war and economic conflicts in a global market economy. Wolfram Elsner. Arms, War, and Terrorism in the GlobalEcon- omy Today : Economic Analyses and Civilian Alternatives, 13, LIT Verlag, pp.39-58, 2007, Bremer Schriften zur Konversion, 978-3-8258-0045-1. hal-02043758 HAL Id: hal-02043758 https://hal.univ-grenoble-alpes.fr/hal-02043758 Submitted on 21 Feb 2019 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. THE CONCEPTS OF ECONOMIC WAR AND ECONOMIC CONFLICTS IN A GLOBAL MARKET ECONOMY Fanny Coulomb, Liliane Bensahel and Jacques Fontanel Coulomb, F., Bensahel, L., & Fontanel, J. (2007). The concepts of economic war and economic conflicts in a global market economy (Vol. 13). LIT Verlag, Bremen Schriften zur Konverzion. Fanny C oulomb, Liliane Bensahel and Jacques Fontanel - T he concepts of economic war and economic conflicts i n a global mar ket economy The concept of economic war raises two main questions, first the function devolved to the economy in the political choices and second the opportunity of economic interventionism. -
Introduction
JOBNAME: Mosca PAGE: 1 SESS: 5 OUTPUT: Wed Jun 13 10:54:17 2018 Introduction According to modern economics, market power (or monopoly power)1 is ‘the ability of firms to influence the price of the product or products they sell’ (Martin 1989, p. 16). But what’s the history of this idea? How have the economists of the past explained monopoly power? And what role has this concept played in economic interventionism? I first encountered this question many years ago (Mosca 1998) when studying the work of the engineer-economist Jules Dupuit, who had clearly described some of the causes of market power, apart from the institutional ones.2 It made me wonder where I could find a history of ideas on the sources of monopoly power and, as I will explain in Chapter 1, it turned out that this history coincides with the theory of barriers to entry. Histories of thought that focus on entry barriers, however, go no further back than Bain (1956), even though models of monopoly and duopoly date back at least to Cournot (1838). Quite apart from the use of models, the question of the sources of market power has existed in economic theory from the very beginning.3 I myself found a treatise on it in the writings of Dupuit. Anti-monopoly policies, too, go back at least to the end of the nineteenth century:4 wasn’t it the monopoly power of firms that such policies were designed to counteract? There must therefore have been some historical research focusing on this theme in the great amount of literature dealing with these policies. -
From Peace Through Free Trade to Interventionism for the Peace Fanny Coulomb, Alain Alcouffe
From peace through free trade to interventionism for the peace Fanny Coulomb, Alain Alcouffe To cite this version: Fanny Coulomb, Alain Alcouffe. From peace through free trade to interventionism for the peace: The development of J.M. Keynes’ thought from the First to the Second World War. 21st Annual ESHET Conference - Rationality in Economics, The European Society for the History of Economic Thought (ESHET), May 2017, Antwerp, Belgium. hal-02051622 HAL Id: hal-02051622 https://hal.archives-ouvertes.fr/hal-02051622 Submitted on 27 Feb 2019 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Preliminary Draft FROM PEACE THROUGH FREE TRADE TO INTERVENTIONISM FOR THE PEACE : THE DEVELOPMENT OF J.M. KEYNES’ THOUGHT FROM THE FIRST TO THE SECOND WORLD WAR Alain Alcouffe* et Fanny Coulomb** The link between Keynes and the economy of war is rather paradoxical. On the one hand Keynes played a significant role in his country's war effort during the two world conflicts and recognized the stimulus on growth induced by European rearmament, on the other hand, his inclination towards different dimensions of pacifism manifested itself on many occasions in his life, as in the conclusion of the General Theory, which ends with hope that the envisaged reforms of capitalism will lead to a world without war. -
Classical Liberalism in Italian Economic Thought, from the Time of Unification · Econ Journal Watch : Italy,Classical Liberalis
Discuss this article at Journaltalk: http://journaltalk.net/articles/5933 ECON JOURNAL WATCH 14(1) January 2017: 22–54 Classical Liberalism in Italian Economic Thought, from the Time of Unification Alberto Mingardi1 LINK TO ABSTRACT This paper offers an account of Italians who have advanced liberal ideas and sensibilities, with an emphasis on individual freedom in the marketplace, since the time of Italy’s unification. We should be mindful that Italy has always had a vein of liberal thought. But this gold mine of liberalism was seldom accessed by political actors, and since 1860 liberalism has been but one thin trace in Italy’s mostly illiberal political thought and culture. The leading representatives of Italian liberalism since 1860 are little known internationally, with the exception of Vilfredo Pareto (1848–1923). And yet their work influenced the late James M. Buchanan and the development of public choice economics.2 Scholars such as Bruno Leoni (1913–1967) joined—and influenced— liberals around the world, and they continue to have an impact on Italy today. Besides their scholarship, all the liberal authors mentioned here share a constant willingness to enter the public debate.3 Viewed retrospectively they appear a pugnacious lot, even if not highly successful in influencing public policy. The standout is Luigi Einaudi (1874–1961), at once a scholar and journalist who also became a leading political figure in the period after World War II. 1. Istituto Bruno Leoni, 10123 Turin, Italy. I am grateful to Jane Shaw Stroup for valuable editorial feed- back. I also wish to thank Enrico Colombatto and three anonymous referees for their helpful comments. -
From the Directors
From the directors The Adam Smith Institute is one of the world’s leading To promote these same ideals today, the Adam Smith policy think tanks. Yet our aim is not just to think about Institute has assembled Westminster’s most talented and public policy: our aim is to change events. effective policy team. In the last year, they have trebled our media exposure. We are doing more, and better- Clear principles assist us in that aim: freedom, choice, com- quality, events than ever before. Sales and downloads of petitive markets, smaller and less costly government. On such our reports are at a record high. Hundreds of thousands foundations we build innovative and practical initiatives, using of people read our blog. And our outreach to young reports, events and the media to transform the public debate. people is second to none. Our name comes from the great Scottish economist Adam The indebtedness and over-centralization of government Smith (1723- 1790), whose book The Wealth of Nations are of course huge threats to economic and personal showed the importance of a free economy and a free freedom. But, working alongside policymakers and with the society. It became the blueprint for a century of free trade, backing of our many loyal supporters, that is something we growth and prosperity. can change. Dr Madsen Pirie, President Dr Eamonn Butler, Director Tom Clougherty, Executive Director The Adam Smith Institute 02 ANNUAL REVIEW 2010 History and Mission Statement Contents The Adam Smith Institute was founded in the 1970s, as competition and enterprise. And yet in many ways govern- post-war socialism reached its high-watermark.