The Laissez‐Faire Revolution and Smithian Economics

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print August 1995 | ISBN: 9780198774556
Published online November 2003 | e-ISBN: 9780191717383 | DOI:
 The Laissez‐Faire Revolution and Smithian Economics

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The contribution of the Physiocratic School and the Italian School (Milan and Naples) is analysed. This is followed by a thorough investigation of Smithian's theoretical system, at both the philosophical level and the economic one. The Smithian orthodoxy is compared to the utilitarianism of Jeremy Bentham.

Keywords: accumulation of capital; civil economy; division of labour; invisible hand; labour commanded; Say's law; tableau économique; utilitarianism

Chapter.  14324 words.  Illustrated.

Subjects: History of Economic Thought

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