Chapter

The <i>Laissez-Faire</i> Revolution and Smithian Economics

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Second edition

Published in print May 2005 | ISBN: 9780199279142
Published online October 2005 | e-ISBN: 9780191602887 | DOI: http://dx.doi.org/10.1093/0199279144.003.0003
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.  17613 words.  Illustrated.

Subjects: History of Economic Thought

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