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In this book some of the world's leading economists and experts on Serra explore the enduring appeal of his 1613 Breve trattato.
Although no less an authority than Joseph A. Schumpeter proclaimed that Antonio Serra was the world's first economist, he remains something of a dark horse of economic historiography. 'A 'Short Treatise' on the Wealth and Poverty of Nations' presents, for the first time, an English translation of Serra's 'Breve Trattato' (1613), one of the most famous tracts in the history of political economy. The treatise is accompanied by Sophus A. Reinert's illuminating introduction which explores its historical context, reception, and relevance for current concerns.
The publication of Alexis de Tocqueville’s Democracy in America has kindled interest across disciplines to appraise the exceptional nature of U.S. activities. In general, however, all the published works have not focused their analyses from an economic point of view. While economics was for some a “dismal science” following Thomas Carlyle’s characterization of Malthus’ demographic model, it has increasingly become the “queen of the social sciences” for more practitioners. The book fills a gap in the literature by describing the American contributors as precursors and genuinely exceptional economists. We present their works within the state of the nation in which they advance their discipline. One is treated to both qualitative and quantitative theories in the opening chapter. Budding theories that became established theories of Economics and Finance are investigated in Chapters II and III. When President John Adams was confronted with M. Turgot’s criticisms of the American government, he resorted to a historic survey of types of government from ancient Greece to the Middle Ages. Similarly, we have included a final chapter, Chapter IV, to present the argument for American Exceptionalism in the domain of Political Economy and Economic Law over the ages.
The mid-eighteenth century witnessed what might be dubbed an economic turn that resolutely changed the trajectory of world history. The discipline of economics itself emerged amidst this turn, and it is frequently traced back to the work of François Quesnay and his school of Physiocracy. Though lionized by the subsequent historiography of economics, the theoretical postulates and policy consequences of Physiocracy were disastrous at the time, resulting in a veritable subsistence trauma in France. This galvanized relentless and diverse critiques of the doctrine not only in France but also throughout the European world that have, hitherto, been largely neglected by scholars. Though Physiocracy was an integral part of the economic turn, it was rapidly overcome, both theoretically and practically, with durable and important consequences for the history of political economy. The Economic Turn brings together some of the leading historians of that moment to fundamentally recast our understanding of the origins and diverse natures of political economy in the Enlightenment.
This book is a major contribution to the study of political economy. With chapters ranging from the origins of political economy to its most exciting research fields, this handbook provides a reassessment of political economy as it stands today, whilst boldly gesturing to where it might head in the future. This handbook transcends the received dichotomy between political economy as an application of rational choice theory or as the study of the causes of societies’ material welfare, outlining a broader field of study that encompasses those traditions. This book will be essential reading for academics, researchers, students, and anyone looking for a comprehensive reassessment of political economy.
Other Canon Economics: Essays in the Theory and History of Uneven Economic Development brings together key essays on development economics from one of the most prolific and important development economists and historians of economic policy today. Erik S. Reinert argues through essays ranging from 1994 to 2020 that neo-classical economics damages developing countries, mostly via adherence to the theory of comparative advantage. Based on a long intellectual tradition, started by the Italian economists Giovanni Botero (1589) and Antonio Serra (1613), Reinert shows that the country which trades increasing returns goods – e.g. high-end manufacture – has advantages over the country which trades diminishing returns goods – e.g. commodities. This has important implications for today’s development strategies that, Reinert argues, should be seen as industrial strategies.
Historians have traditionally used the discourses of free trade and laissez faire to explain the development of political economy during the Enlightenment. But from Sophus Reinert’s perspective, eighteenth-century political economy can be understood only in the context of the often brutal imperial rivalries then unfolding in Europe and its former colonies and the positive consequences of active economic policy. The idea of economic emulation was the prism through which philosophers, ministers, reformers, and even merchants thought about economics, as well as industrial policy and reform, in the early modern period. With the rise of the British Empire, European powers and others sought to selectively emulate the British model. In mapping the general history of economic translations between 1500 and 1849, and particularly tracing the successive translations of the Bristol merchant John Cary’s seminal 1695 Essay on the State of England, Reinert makes a compelling case for the way that England’s aggressively nationalist policies, especially extensive tariffs and other intrusive market interventions, were adopted in France, Italy, Germany, and Scandinavia before providing the blueprint for independence in the New World. Relatively forgotten today, Cary’s work served as the basis for an international move toward using political economy as the prime tool of policymaking and industrial expansion. Reinert’s work challenges previous narratives about the origins of political economy and invites the current generation of economists to reexamine the foundations, and future, of their discipline.
Much of the most recent research on Jewish scepticism was inspired by the work of the early modern Venetian rabbi Simone Luzzatto, the first thinker in the history of Jewish thought to declare himself a sceptic and a follower of the New Academy. This collected volume shines new light on the intimate relationship between Luzzatto’s sceptical thinking and an era marked by paradoxes and contrasts between religious devotion and scientific rationalism, as well as between the rabbinic-biblical Jewish tradition and the open tendency towards engagement with non-Jewish philosophical, literary, scientific, and theological cultures. It plots out an original path along which to understand Luzzatto’s scepticism by pointing to the various facets of being a Jewish sceptic in seventeenth-century Italy.
This book discusses key issues in economic policy in the context of the history of economic thought. Most of the current and past academic controversies in economics are, explicitly or implicitly, centred around the application and form of economic policy. This is particularly evident in the post-WWII period, with the appearance of economic policy as a distinguishable subfield, but important elements of various economic policy issues can be found throughout the history of economic thought. This book discusses various topics in economic policy – such as questions over state spending and taxation, income redistribution, and the role of money – with each chapter focusing on a particular period or major school of economic thought ranging from the ‘prehistory’ of economics up to the present day. Specific chapters of the volume cover the main schools of economic thought from different national and theoretical traditions, incorporating mercantilism, the Physiocratic School, the German Historical School, Marxism, the Austrian School, institutional economics, Keynesian economics, behavioural economics and more. This book will be of great interest to readers of the history of economic policy as well as the history of economic thought, macroeconomics and economic history more broadly.