A history of economic doctrines : $b from the time of the physiocrats to the present dayGide, Charles
History
A history of economic doctrines : $b from the time of the physiocrats to the present day
Gide, Charles
Economics -- History
J. B. Say was twenty-three years of age in 1789.[255] At that time he was
Clavières’ secretary. Clavières became Minister of Finance in 1792, but
at this period he was manager of an assurance company, and was already
a disciple of Smith. Say came across some stray pages of the _Wealth of
Nations_, and sent for a copy of the book.[256] The impression it made
upon him was profound. “When we read this work,” he writes, “we feel that
previous to Smith there was no such thing as political economy.” Fourteen
years afterwards, in 1803, appeared _Le Traité d’Économie politique_.
The book met with immediate success, and a second edition would have
appeared had not the First Consul interdicted it. Say had refused to
support the Consul’s financial recommendations, and the writer, in
addition to having his book proscribed, found himself banished from the
Tribunate. Say waited until 1814 before republishing it. New editions
rapidly followed, in 1817, 1819, and 1826. The treatise was translated
into several languages. Say’s authority gradually extended itself; his
reputation became European; and by these means the ideas of Adam Smith,
clarified and logically arranged in the form of general principles from
which conclusions could be easily deduced, gradually captivated the more
enlightened section of public opinion.
It would, however, be unjust to regard Say as a mere populariser of
Smith’s ideas. With praiseworthy modesty, he has never attempted to
conceal all that he owed to the master. The master’s name is mentioned in
almost every line, but he never remains content with a mere repetition
of his ideas. These are carefully reconsidered and reviewed with
discrimination. He develops some of them and emphasises others. Amid
the devious paths pursued by Smith, the French economist chooses that
which most directly leads to the desired end. This path is so clearly
outlined for his successors that “wayfaring men, though fools, could
not err therein.” In a sense he may be said to have filtered the ideas
of the master, or to have toned his doctrines with the proper tints. He
thus imparted to French political economy its distinctive character as
distinguished from English political economy, to which at about the same
time Malthus and Ricardo were to give an entirely new orientation. What
interests us more than his borrowing is the personal share which he has
in the work, an estimate of which we must now attempt.
(1) In the first place, Say succeeded in overthrowing the work of the
Physiocrats.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account