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The Elgar Companion To Economics and Philosophy

The Elgar Companion To Economics and Philosophy

Elgar original reference

Edited by John B. Davis, Alain Marciano and Jochen Runde

The Elgar Companion to Economics and Philosophy aims to demonstrate exactly how these two important areas have always been linked, and to illustrate the key areas of overlap. The contributors are well-known and distinguished authors from a variety of disciplines, who have been invited both to survey and to provide a personal assessment of current and prospective future states of their respective areas of philosophical interest.

Chapter 1: Natural Law, Natural History and the Foundations of Political Economy

José Luís Cardoso

Subjects: economics and finance, methodology of economics


José Luís Cardoso Introduction The emergence of political economy as an autonomous scientific discourse was a complex process, not a fixed moment in a diary of events. Investigating its origins or roots therefore requires consideration of the multiple of factors involved, and lends itself to multiple interpretations and provides a variety of research orientations. Even if, in order to fit in with conventional wisdom, it is accepted that 1776 represented the year of grace, the road that made it possible to announce the good news brought by the science that deals with the wealth of nations proved to be a long one. First of all, it was necessary for economic phenomena and problems to become established as an everyday reality that required attention, understanding and mastery. In other words, it was necessary to isolate and identify a subject that came to represent a permanent motive for constructed knowledge. This condition was met from the late fifteenth century onwards, when the western economic world underwent gradual yet profound changes and suffered a series of convulsions that led to the production of an abundant economic literature. Such writings were not only intended to justify new forms for the political reconciliation of the interests of different social groups connected with the revival of mercantile activities, but also sought to explain the theoretical, technical and practical problems arising from these same activities, such as: variations in the balance of trade, oscillations in prices and their relationship with specie flows, the fiscal and...

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