❴PDF❵ ✑ Economic Thought Before Adam Smith Author Murray N. Rothbard – Saudionline.co.uk


  • Kindle Edition
  • Economic Thought Before Adam Smith
  • Murray N. Rothbard
  • English
  • 06 June 2018

10 thoughts on “Economic Thought Before Adam Smith

  1. says:

    Excellent book describing the economic thinking from Greeks and Taoists, scholastics and protestants to mercantilists and Smith Rothbard proves that great economists existed before Smith, many important theories discovered by e.g Salamanca school, Cantillon or Turgot, or that many fallacies promoted by Keynes or today s economists and politicians were supported or even implemented in middle ages costs regulation, interests rates manipulation, monopoly creation, all resulted to violence of some king, even to totalitarian terror of e.g protestant Geneva and others I recommend to all fans of history , economics and business.


  2. says:

    From this book you will know that the Austrian school 1 hates government interventions and Marxism, 2 hates numerical quantitative methods, 3 hates Adam Smith for his fixed labor value theory and have a thing called marginal revenue instead, 4 believes values are determined by the market and the consumers as individuals alone.That said, this pile of whatever is definitely not a history book exactly because it kept pushing these doctrines pages after pages down your throat And the sheer arrogant attitude to judge whatever culture and whatever era and whatever prevailing object relation structure within a society by the One True Standard, the modern standard, the enlightened standard, the correct standard namely, their standard is simply repulsive It is, ironically, as much a propaganda as philistine interpretation of Marx s Kingdom Come And it s written by an awful author who couldn t even read properly, but instead kept getting triggered by some keywords and kept performing presentism interpretations.I refuse to review it properly, which in my mind would translate into a Tarantino esque script of economists getting Tarantino ed, unless someone would be willing to pay me 5 digits for compensating the necessary toil I ll have to go through Why the hell, one might ask, is the name of a psychoanalytic school popping out at this joint


  3. says:

    20 20


  4. says:

    The Greeks were the first civilized people to use reason to systematically analyze the natural world around them, as opposed to thinking that natural events and things resulted from, and were subject to, the whims of the gods They developed a system of thought and scientific investigation that they called Natural Law They examined the natural world and its properties, and classified things into categories This included the study of man According to Aristotle, man s existence is limited and not necessary According to Plato, however, man s existence is eternal and necessary man has simply degraded from this original form we are supposed to transcend and work our way back to our original, perfect, eternal selves In political thought, both Aristotle and Plato favored the aristocratic, oligarchical rule of the polis, the city state, where individual aspirations and endeavors are subjugated to the needs of the state, in this case, the polis the good is not to be pursued by the individual, and the individual has no rights Rather, virtue and the good life is to be found in the context of the polis This statist view led to a feeling of contempt for innovation, entrepreneurship, labor and trade for profit Hesiod, an early Greek poet, was the first economist, as one of his poems, Works and Days, focuses on the problem of how humans use scarce resources towards abundant ends labor, Material, and time must be allocated efficiently and harmoniously through the just application of laws Other pre Socratic theorists include Pythagorus and Democritus who founded subjective value theory, i.e wealth is a subjective value, although an over abundant good is necessarily less valued He also defended the idea of private property because it provides an incentive for work Plato, Rothbard argues, favored in his Republic a right wing collectivist utopia That is, the two ruling classes, the philosopher kings and the soldiers were to live under absolute communism, sharing property, women, children, and meals, because private property corrupts virtue The state would also be totalitarian where freedom of speech and the arts are suppressed He proposed the idea of division of labor, although he ranked hierarchically the individual occupations, with laborers at the bottom He denounced the use of gold and silver as money Zenophon wrote on household management One of his ideas was that an increase in supply of a commodity leads to a decrease in price Aristotle was in favor of private property, and this idea heavily influenced the middle ages as it considered itself Aristotelian He also denounced the communism of the ruling class called for by Plato because private property is productive and leads to progress Plato argued that communism would lead to peace, whereas Aristotle argued that it would lead to conflict Aristotle also provided the concept that only private property allows people to behave morally because it allows for philanthropy and benevolence He opposed the accumulation of wealth, however, charging interest After Greek society was absorbed by Rome, economic thought was consumed by the ideas of dealing with scarcity by accepting fate and curbing desires, ie stoicism, cynicism, epicureanism The stoics developed the concept of natural law just law discovered by man s reason that focused on the individual and on states everywhere rather than the Greek polis Via mainly Cicero, the anti statist stoic doctrine of natural laws influence Roman law, which touted property rights, which in turn influenced English common law and the civil law of the continent In China the legalists were statists, the Taoists libertarians no interference by state , and Confucions middle of the road.Private property rights and the idea of laissez faire came to the west via the Theodosian code and the Corpus Juris Civilis of Justinian a just price is any price freely arrived at by buyer and seller Canon Law was the law governing the church During early middle ages canon law incorporated Roman law but also the capitularies of the Carolingian empire which fixed fair prices prices commonly charged prohibited usury In the high middle ages, the University of Bologna published the Decretum collection of canon law which took an anti merchant position Later, a favorable view of private property and merchants grew Thomism, in contrast, demonstrated that the laws of nature, including the nature of mankind, provided the means for man s reason to discover a rational ethics Late 13th century scholastics Franciscans and utility theory Pierre de Jean Olivi said value is determined by scarcity supply , usefulness, and desirability subjective utility Utility is relative to supply and not absolute Value of a good is determined by its marginal utility Olivi also brought into economic thought the concept of capital a fund of money invested in a business venture.


  5. says:

    Esse primeiro volume da hist ria do pensamento econ mico escrito por Murray Rothbard grandioso em sua extens o contra a pr tica Whig de iniciar a historiografia com Adam Smith, sem antes claro ridicularizar os mercantilistas e dar um oi aos Fisiocratas, Rothbard inicia com Plat o e Arist teles, e at vai mais atr s ao apontar as id ias econ micas de poetas gregos do S culo VIII antes de Cristo, depois passa ao pensadores medievais e suas id ias sobre valor e suas posi es sobre o fen meno da usura Os pensadores da Escola de Salamanca s o especialmente reverenciados pela solidez e perspic cia de suas id ias Os mercantilistas s o tratados pelo que s o propagandistas do engrandecimento estatal e lobistas em favor dos poderes constitu dos Richard Cantillon, em um cap tulo dedicado a ele, recebe os cr ditos devidos por ter sido o primeiro economista pr prio ao elaborar um curto tratado baseado na s lida an lise econ mica quase meio s culo antes de Adam Smith ARJ Turgot, longe de ser um mero fisiocrata, apropriadamente elevado posi o que merce como um excelente analista do valor e dos juros, tendo precedido mesmo Bawerk e sua teoria do juro como originado na prefer ncia temporal Os tr s cap tulos finais s o dedicados aos Iluministas Escoceses em um, os precursores de Smith, Francis Hutcheson e David Hume no pen ltimo cap tulo uma avalia o completa de Adam Smith e seu suposto m rito como Grande Economista e Eminente Liberal levada a cabo com grande maestria basicamente o que h de novo em Smith est errado e o que h de certo em Smith foi herdado de percursores maiores que ele e, por fim, temos uma vis o do espalhamento das id ias smithianas pela Europa.Este livro um marco em seu campo e a ltima obra prima da pena de Rothbard, seu testamento.


  6. says:

    If you studied economics, this is a must read If you are pushed for time, just read the chapter on Adam Smith it is a fascinating demolition Smith contributed nothing new to economics except some disastrous fallacies such as the labour theory of value and the removal of the entrepreneur from economic theory Rothbard explains that Smith led economics disastrously astray for over a century it has still not fully recovered Rothbard provides fascinating commentaries on Aristotle, David Hume, Francis Bacon and many other thinkers that gave me a whole new perspective on their influence.


  7. says:

    As much as this work is about economics, it is also about the history of thought in the West Anyone who wants to understand better the development and disintegration of thought in the West should read this work I expected a rich history and insightful commentary on economic thought I received that and much In fact, the book might be too detailed despite its superb ability to summarize since it covers so much territory Nonetheless, I am glad that I read this book and will be reading the second volume sometime in the summer.


  8. says:

    Rothbard s first volume provides a strong introduction to economic thought before Adam Smith, showing the sophisticated market analysis was being undertaken by the medieval scholastics and that later continental schools of thought advanced the discipline, noting especially the contributions of Turgot and Cantillon A strong work and a reminder of how radically knowledge can be lost in the social sciences.


  9. says:

    I thoroughly enjoyed reading this book, though, considering the sheer number of ideas and facts that are contained within it I will definitely have to read it once or twice to fully grasp what the material It is then, perhaps, that I will write a review befitting this masterpiece.


  10. says:

    Apparently Adam Smith was a dope, and Bacon a waste of time Good to know.Nothing better than a heavy dose of econ and history.


Leave a Reply

Your email address will not be published. Required fields are marked *

Economic Thought Before Adam Smith characters Economic Thought Before Adam Smith , audiobook Economic Thought Before Adam Smith , files book Economic Thought Before Adam Smith , today Economic Thought Before Adam Smith , Economic Thought Before Adam Smith 913d4 This Is The First Extensive Treatment From A Modern Austrian Perspective Of The History Of Economic Thought Up To Adam Smith And As Such Takes Into Account The Profound Influence Of Religious, Social And Political Thought Upon EconomicsIn Economic Thought Before Adam Smith, Murray Rothbard Contends That Laissez Faire Liberalism And Economic Thought Itself Began With The Catholic Scholastics And Early Roman And Canon Law, Rather Than With Adam Smith The Scholastics, He Argues, Established And Developed The Subjective Utility And Scarcity Theory Of Value, As Well As The Theory That Prices, Or The Value Of Money, Depend On Its Supply And Demand This Continental, Or Pre Austrian Tradition, Was Destroyed, Rather Than Developed, By Adam Smith Whose Strong Calvinist Tendencies Towards Glorifying Labour, Toil And Thrift Is Contrasted With The Emphasis In Scholastic Economic Thought Towards Labour In The Service Of ConsumptionTracing Economic Thought From The Greeks To The Scottish Enlightenment, This Book Is Notable For Its Inclusion Of All The Important Figures In Each School Of Thought With Their Theories Assessed In Historical Context Classical Economics, The Second Volume Of Professor Rothbard S History Of Economic Thought From An Austrian Perspective, Is Also Available


About the Author: Murray N. Rothbard

Murray Newton Rothbard was an influential American historian, natural law theorist and economist of the Austrian School who helped define modern libertarianism Rothbard took the Austrian School s emphasis on spontaneous order and condemnation of central planning to an individualist anarchist conclusion, which he termed anarcho capitalism.