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
But the counsels given and the recipes offered for attaining the desired
end were as diverse as they were uncertain. One school, known as the
Mercantilist, believed that a State, like an individual, must secure the
maximum of silver and gold before it could become wealthy. Happy indeed
was a country like Spain that had discovered a Peru, or Holland, which,
in default of mines, could procure gold from the foreigner in exchange
for its spices. Foreign trade really seemed a quite inexhaustible mine.
Other writers, who were socialists in fact though not in name—for that
term is of later invention—thought that happiness could only be found in
a more equal distribution of wealth, in the abolition or limitation of
the rights of private property, or in the creation of a new society on
the basis of a new social contract—in short, in the foundation of the
Utopian commonwealth.
It was at this juncture that Quesnay appeared. Quesnay was a doctor
by profession, who now, when on the verge of old age, had turned his
attention to the study of “rural economy”—the problem of the land and
the means of subsistence.[6] Boldly declaring that the solution of the
problem had always lain ready to hand, needing neither inventing nor
discovering, he further maintained that all social relations into which
men enter, far from being haphazard, are, on the contrary, admirably
regulated and controlled. To those who took the trouble to think, the
laws governing human associations seemed almost self-evident, and the
difficulties they involved no greater than the difficulties presented by
the laws of geometry. So admirable were these laws in every respect that
once they were thoroughly known they were certain to command allegiance.
Dupont de Nemours cannot be said to have exaggerated when, in referring
to this doctrine, he spoke of it as “very novel indeed.”[7]
Public-domain text, read in full here on John Shaqi.
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