A history of economic doctrines : $b from the time of the physiocrats to the present day — John Shaqi
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
These theories immediately received legal sanction in the edicts of 1763
and 1766 establishing free trade in corn, first within the country and
then without, but some very serious restrictions were still retained.
Unfortunately Nature proved very ungrateful to her friends. For four or
five years she ran riot with a series of bad harvests, for which, as
we may well imagine, the Physiocratic _régime_ and its inspirers were
held responsible. Despite the protests of the Physiocrats, this liberal
act was repealed in 1770. It was re-established by Turgot in 1774, and
again repealed by Necker in 1777—a variety of fortune that betokens a
fickleness of public opinion.
This new piece of legislation, and, indeed, the whole Physiocratic
theory, was subjected to severe criticism by an abbot of the name of
Galiani. Galiani was a Neapolitan monsignor residing at the French court.
At the age of twenty-four he had written a remarkable work in Italian
dealing with money, and in 1770, written in splendid French, appeared his
_Dialogues sur le Commerce des Blés_. It was an immediate success, and it
won the unqualified approval of Voltaire, who was possibly attracted more
by the style than by the profundity of thought. Galiani was not exactly
opposed to _laissez-faire_. “Liberty,” he wrote, “stands in no need of
defence so long as it is at all possible. Whenever we can we ought to be
on the side of liberty.”[74] But he is opposed to general systems and
against complete self-surrender into the hands of Nature. “Nature,” says
he, “is too vast to be concerned about our petty trifles.”[75] He shares
the realistic or historical views of the writers of to-day, and thinks
that before applying the principles of political economy some account
should be taken of time, place, and circumstances. “The state of which
the Physiocrats speak—what is it? Where is it to be found.”[76]
Along with Galiani we must mention the great financier Necker, who in a
bulky volume entitled _La Législation et le Commerce des Grains_ (1775)
advocates opportunistic views almost identical in character with those of
Galiani, and who, as Minister of State (1776-81 and 1788-90), put an end
to free trade in corn.
Public-domain text, read in full here on John Shaqi.
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