The authors refuse to believe that collaboration in the production of a scientific history of ideas need imply absolute agreement on every question that comes up for consideration. Especially is this the case with the doctrines of political and social economy outlined herein; each of the authors has retained the fullest right of independent judgment on all these matters. Consequently any undue reserve or any extravagant enthusiasm shown for some of these doctrines must be taken as an expression of the personal predilection of the signatory of the particular article. CHARLES GIDE CHARLES RIST CONTENTS PAGE BOOK I: THE FOUNDERS CHAPTER I: THE PHYSIOCRATS (M. GIDE) 1 I I. THE NATURAL ORDER 5 II. THE NET PRODUCT 12 III. THE CIRCULATION OF WEALTH 18 II I. TRADE 27 II. THE FUNCTIONS OF THE STATE 33 III. TAXATION 38 IV. RÉSUMÉ OF THE PHYSIOCRATIC DOCTRINE. CRITICS AND DISSENTERS 45 CHAPTER II: ADAM SMITH (M. RIST) 50 I. DIVISION OF LABOUR 56 II. THE “NATURALISM” AND “OPTIMISM” OF SMITH 68 III. ECONOMIC LIBERTY AND INTERNATIONAL TRADE 93 IV. THE INFLUENCE OF SMITH’S THOUGHT AND ITS DIFFUSION. J. B. SAY 102 CHAPTER III: THE PESSIMISTS (M. GIDE) 118 I. MALTHUS 120 THE LAW OF POPULATION 121 II. RICARDO 138 1. THE LAW OF RENT 141 2. OF WAGES AND PROFITS 157 3. THE BALANCE OF TRADE THEORY AND THE QUANTITY THEORY OF MONEY 163 4. PAPER MONEY, ITS ISSUE AND REGULATION 165 BOOK II: THE ANTAGONISTS CHAPTER I: SISMONDI AND THE ORIGINS OF THE CRITICAL SCHOOL (M. RIST) 170 I. THE AIM AND METHOD OF POLITICAL ECONOMY 173 II. SISMONDI’S CRITICISM OF OVER-PRODUCTION AND COMPETITION 178