1 I make no great claim for the originality of this argument. It is essentially derived from Marx's important discussion of the "primitive accumulation of capital." See Karl Marx, Capital, vol. 1, trans. Ben Fowkes (Harmondsworth: Penguin, 1976), pt. 8.

2 Harold J. Laski, The Rise of European Liberalism (London: Unwin, 1936),119.

3 Hiroshi Mizuta, "Moral Philosophy and Civil Society," in Essays on Adam Smith, ed. Andrew Skinner and Thomas Wilson (Oxford: Oxford University Press, 1975), 115.

4 Eric Roll, A History of Economic Thought, 4th ed. (London: Faber and Faber, 1973), 150, 86.

5 Joseph Cropsey, Polity and Economy: An Interpretation of the Principles of Adam Smith (The Hague: Nijhoff, 1957), vii.

6 It needs to be emphasized that my argument applies to classical political economy prior to Ricardo. In certain respects, Ricardo's work represents a turning-point in the development of economics equally significant to the "neo-classical revolution." Ricardo severs the explicit connection of economic analysis to a broader social philosophy. The considerations on morality, justice, and government which figured centrally in the writings of Smith and Quesnay are entirely foreign to Ricardo's Principles . Ricardo jettisons the normative dimension of political economy; we are left to reflect simply upon the laws of economic distribution.

Ricardo's inappropriateness to our thesis stems from other considerations, his hostility to the landlord and his concern that the surplus accruing to the agricultural sector (rent) would inevitably diminish the surplus accruing to the industrial capitalist (entrepreneurial profit). Ricardo still conceives of the economy in agrarian terms. Indeed, as Keith Tribe writes ( Land, Labour, and Economic Discourse [London: Routledge and Kegan Paul, 1978], 133), "For Ricardo, political econ-

omy is the investigation of the system of distribution in an agrarian capitalist economy." But it is Ricardo's contention—and here the break from Smith, Quesnay, Locke, and Petty is decisive—"that the interest of the landlord is always opposed to the interest of every other class in the community" (see David Ricardo, "Essay on Profits," in The Works and Correspondence of David Ricardo, ed. Piero Sraffa, vol. 4 [Cambridge: Cambridge University Press, 1962], 21).

1 Karl Marx, Grundrisse, trans. Martin Nicolaus (Harmondsworth: Penguin, 1973), 883.

2 Throughout this work I shall use the modern spelling of Boisguilbert and not the version (Boisguillebert) used by Marx. It should also be noted that Petty, although born in England, spent much of his adult life in Ireland. Even there, however, he was in every sense an Englishman, working for many years on behalf of Cromwell's régime in its conquest and settlement of Irish lands.

3 Michael Postan, The Medieval Economy and Society (Harmondsworth: Penguin, 1975) 194. For discussion of the notion of a feudal crisis see Rodney Hilton, "A Crisis of Feudalism," Past and Present, 80 (1978): 3. Marc Bloch's view can be found in his French Rural History, trans. Janet Sondheimer (Berkeley: University of California Press, 1966). Two other attempts to assess the crisis of feudalism are worthy of note. They are Edouard Perroy, "A l'origine d'une économie contractée: les crises du XIVe siècle," Annales. Economies, Sociétés, Civilisations 4 (1949) and Rodney Hilton, "Y eut-il une crise générale de la féodalité?" Annales. Economies, Sociétés, Civilisations 6 (1951).

4 Marc Bloch, Feudal Society, trans L. A. Manyon (Chicago: University of Chicago Press, 1961), 1: 69-71; Georges Duby, Rural Economy and Country Life in the Medieval West, trans. Cynthia Postan (Columbia: University of South Carolina Press, 1968), 71-80.

5 See for example Harry A. Miskimin, The Economy of Early Renaissance Europe: 1300-1460 (Englewood Cliffs, N.J.: Prentice-Hall, 1969),25.

6 Duby, 298-300; Guy Bois, Crise du féodalisme (Paris: Presses de la Fondation Nationale des Sciences Politiques, 1976), pt. 1.

7 Robert Brenner, "The Agrarian Roots of European Capitalism," Past and Present 97 (1982): 29, 34-35; idem, "Agrarian Class Structure and Economic Development in Pre-Industrial Europe," Past and Present 70 (1976): 49; Witold Kula, An Economic Theory of the Feudal System, trans. Lawrence Garner (London: New Left Books, 1976), 29-39, 102-5; Michael Postan, Essays on Medieval Agriculture and General

Problems of the Medieval Economy (Cambridge: Cambridge University Press, 1973), 15; Emmanuel Le Roy Ladurie, The Peasants of Languedoc, trans. John Day (Urbana: University of Illinois Press, 1974), 236.

8 Rodney Hilton, The Decline of Feudalism in Medieval England (London: Macmillan and Co., 1969), 36; idem, Bond Men Made Free: Medieval Peasant Movements and the English Rising of 1381 (London: Methuen and Co., 1973), 156-63; Christopher Day, "A Redistribution of Incomes in Fifteenth-Century England?" in Peasants, Knights, and Heretics, ed. Rodney Hilton (Cambridge: Cambridge University Press, 1976); Maurice Dobb, Studies in the Development of Capitalism, rev. ed. (New York: International Publishers, 1963), 49-52.

9 Hilton, Decline of Feudalism, 39, 43.

10 Postan, The Medieval Economy, 158.

11 William Lazonick, "Karl Marx and Enclosures in England," Review of Radical Political Economics 6 (1974): 20; Eric Kerridge, "The Movement of Rent, 1540-1630," Economic History Review 6 (1953): 28-29.

12 William George Hoskins, The Midland Peasant: The Economic and Social History of a Leicestershire Village (London: Macmillan and Co., 1957), 141; Rodney Hilton, The Economic Development of Some Leicestershire Estates in the Fourteenth and Fifteenth Centuries (Oxford: Oxford University Press, 1947), 105; R. H. Tawney, The Agrarian Problem in the Sixteenth Century (1912; reprint, New York: Harper and Row, 1967), 56-57.

13 Mildred Campbell, The English Yeoman Under Elizabeth and the Early Stuarts (New Haven: Yale University Press, 1942), 104.

14 Tawney, 152.

15 David Underdown, Revel, Riot, and Rebellion: Popular Politics and Culture in England, 1603-1660 (Oxford: Oxford University Press, 1985),26.

16 On this point see Rodney Hilton, The English Peasantry in the Later Middle Ages (Oxford: Oxford University Press, 1975), 168.

17 On rising rents see Lawrence Stone, The Crisis of the Aristocracy, 1558-1641, abridged ed. (Oxford: Oxford University Press, 1967), 153-59. The estimate on the amount of enclosure to have taken place by 1700 comes from Eric Kerridge, The Agricultural Revolution (London: George Allen and Unwin, 1967), 24.

18 For a useful discussion of the economics of the new husbandry see C. Peter Trimmer, "The Turnip, the New Husbandry, and the English Agricultural Revolution," Quarterly Journal of Economics 83 (1969): 375-95.

19 These are the dates suggested by F. M. L. Thompson, "The Social Distribution of Landed Property in England since the Sixteenth Century," Economic History Review, 2d ser., 19 (1966): 510-11, although Thompson himself remains sceptical about such a redistribution of property. On this point and on the sales of church lands see Gordon E. Mingay, The Gentry: The Rise and Fall of a Ruling Class (London: Longman, 1976), chaps. 2 and 3.

20 On these points see Lawrence Stone, The Causes of the English Revolution, 1529-1642 (London: Routledge and Kegan Paul, 1972), 92; and G. R. Elton, England Under the Tudors, 2d ed. (London: Methuen and Co., 1974).

21 The phrase ''committee of landlords" was coined by Barrington Moore, Jr., in his Social Origins of Dictatorship and Democracy . (Boston: Beacon Press, 1966), 19, in reference to the eighteenth century.

22 Among the best accounts of the revolution from below during the 1640s are Brian Manning, The English People and the English Revolution (1976; reprint, Harmondsworth: Penguin, 1978) and Christopher Hill, The World Turned Upside Down (1972; reprint, Harmondsworth: Penguin, 1975). See also idem, The Experience of Defeat (New York: Viking Penguin, 1984) and H. N. Brailsford, The Levellers and the English Revolution, ed. Christopher Hill (1961; reprint, London: Spokesman, 1976). For an important study which qualifies the overall picture of popular politics in terms of regionally-based popular cultures see Underdown.

23 On this period see Christopher Hill, The Century of Revolution, 1603-1714 (1961; reprint, London: Cardinal-Sphere Books, 1974), 174-76 and 202-9; J. R. Jones, The First Whigs: The Politics of the Exclusion Crisis, 1678-1683 (London: Oxford University Press, 1968); and K. H. D. Haley, The First Earl of Shaftesbury (Oxford: Clarendon Press, 1968).

24 Lois G. Schwoerer, "The Bill of Rights: Epitome of the Revolution of 1688-89," in Three British Revolutions: 1641, 1688, 1776, ed. J. G. A. Pocock (Princeton: Princeton University Press, 1980), interprets the Bill of Rights as an essentially radical document. For views which emphasize the more moderate and conservative character of the bill see W. A. Speck, Stability and Strife: England, 1714-1760 (London: Edward Arnold, 1977), 12-15; and Hill, Century of Revolution, 237-40.

25 Gordon E. Mingay, "The Size of Farms in the Eighteenth Century," Economic History Review, 2d ser., 14 (1961-62): 481; and idem, English Landed Society in the Eighteenth Century (London: Routledge and Kegan Paul, 1963), 20. On the overall importance of landed investment at this time see also Barry Holderness, "Capital Formation in Agriculture" and the subsequent "Comment" by F. M. L. Thompson, in Aspects of Capital Investment in Great Britain, 1750-1850, ed. J. P. P. Higgins and Sidney Pollard (London: Methuen and Co., 1971) and J. D. Chambers and Gordon E. Mingay, The Agricultural Revolution, 1750-1850 (London: B. T. Batsford, 1966), 84.

26 Barrington Moore, Jr., 29.

27 Charles Wilson and Geoffrey Parker, eds., An Introduction to the Sources of European Economic History, 1500-1800, vol. 1 (London: Methuen and Co., 1977), 121; Lazonick, 26-27.

28 One of the more sophisticated versions of this argument can be found in Chambers and Mingay.

29 Hoskins, 255.

30 Karl Marx, Capital, trans. Ben Fowkes (Harmondsworth: Penguin, 1976), 1: 875-76.

31 See, for example, Eric Hobsbawm and George Rudé, Captain Swing: A Social History of the Great English Agricultural Uprising of 1830 (New York: W. W. Norton, 1975), 32.

32 E. P. Thompson, "The Peculiarities of the English," in The Poverty of Theory and Other Essays (London: Merlin Press, 1978), 42; see also 44. On the victory of property rights over customary rights see idem, Whigs and Hunters: The Origin of the Black Act (New York: Pantheon, 1975).

33 E. L. Jones, "Agricultural Origins of Industry," Past and Present 40 (1968): 58-71; W. H. B. Court, The Rise of Midland Industries, 1600-1838 (1938; reprint, London: Oxford University Press, 1953), 36-38; and E. L. Jones, editor's introduction to Agriculture and Economic Growth in England, 1650-1815 (London: Methuen and Co., 1967), 37. See also Joan Thirsk, Economic Policy and Projects (Oxford: Oxford University Press, 1978), chap. 5.

34 A. H. John, "Agricultural Productivity and Economic Growth in England, 1700-1760," Journal of Economic History 25 (1965): 19-34; and idem, "Aspects of English Economic Growth in the First Half of the Eighteenth Century," Economica 28 (1961): 176-90.

35 For a provocative argument about the timing of the industrial takeoff see John, "Aspects of Economic Growth," 189.

36 Marx, "Immediate Results of the Process of Production," Capital, 1: 1021, 1024, 1054-55.

37 J. H. M. Salmon, Society in Crisis: France in the Sixteenth Century (1975; reprint, London: Methuen and Co., 1979), 30, 40-41; see also Le Roy Ladurie, 94; and Bois, 141-43.

38 Salmon, 291-92. For the overall context of the rise of absolutism see Robin Briggs, Early Modern France 1560-1715 (Oxford: Oxford University Press, 1977) and Max Beloff, The Age of Absolutism, 1660-1815 (London: Hutchinson and Co., 1954).

39 Perry Anderson, Lineages of the Absolutist State (London: New Left Books, 1974), 18.

40 Pierre Goubert, Louis XIV and Twenty Million Frenchmen, trans. Ann Carter (New York: Vintage, 1970), 107. It should be noted that a sizable share of revenues came from the sale of offices. For data on price levels during this period see Wilson and Parker, 178-80.

41 See Boris Porshnev, "The Bourgeoisie and Feudal Absolutism in Seventeenth-Century France," in France in Crisis, 1620-1675, ed. and trans. P. J. Coveney (London: Macmillan and Co., 1977), 124, 128-29. On lords encouraging peasant resistance to the Crown see Hubert Methivier, "A Century of Conflict: The Economic and Social Disorder of the 'Grand Siècle,'" in France in Crisis, 75.

42 Brenner, "Agrarian Roots of Capitalism," 81.

43 Julian Dent, Crisis in Finance: Crown, Financiers, and Society in Seven-

teenth-Century France (Newton Abbot, England: David and Charles, 1973), 39, 43, 51; Goubert, Louis XIV, 114-39; Boris Porshnev, "Popular Uprisings in France before the Fronde, 1623-1648," in France in Crisis, 164; Roland Mousnier, "The Financial Officiers during the Fronde," in France in Crisis, 203.

44 George V. Taylor, "Types of Capitalism in Eighteenth-Century France," English Historical Review 79 (1964): 479.

45 Ibid., 491; see also Taylor, "The Paris Bourse on the Eve of the Revolution, 1781-1789," American Historical Review 67 (1962).

44 George V. Taylor, "Types of Capitalism in Eighteenth-Century France," English Historical Review 79 (1964): 479.

45 Ibid., 491; see also Taylor, "The Paris Bourse on the Eve of the Revolution, 1781-1789," American Historical Review 67 (1962).

46 Bloch, French Rural History, 134.

47 See, for example, ibid., 221-28; and Robert Forster, The Nobility of Toulouse in the Eighteenth Century: A Social and Economic History (Baltimore: Johns Hopkins Press, 1960), 77-82.

46 Bloch, French Rural History, 134.

47 See, for example, ibid., 221-28; and Robert Forster, The Nobility of Toulouse in the Eighteenth Century: A Social and Economic History (Baltimore: Johns Hopkins Press, 1960), 77-82.

48 Beloff, 75.

1 Perry Anderson, Lineages of the Absolutist State (London: New Left Books, 1974), 36 n 34.

2 This is precisely the criticism often made of the classic study by Eli Heckscher, Mercantilism, trans. Mendel Shapiro, 2d ed., 2 vols. (London: George Allen and Unwin, 1955). For critical perspectives see D. C. Coleman, ed., Revisions in Mercantilism (London: Methuen and Co., 1969) and Joseph Schumpeter, History of Economic Analysis (New York: Oxford University Press, 1954), 335.

3 Barry Supple, Commercial Crisis and Change in England (Cambridge: Cambridge University Press, 1959), 228-29.

4 Heckscher, 2: 144.

5 On the sixteenth-century revival of notions of the regulated economy see Lawrence Stone, "State Control in Sixteenth-Century England," Economic History Review 14 (1947): 103-20; and John Walter and Keith Wrightson, "Dearth and the Social Order in Early Modern England," Past and Present 71 (1976): 22-42. The persistence of such ideas is analyzed by E. P. Thompson, "The Moral Economy of the English Crowd in the Eighteenth Century," Past and Present 50 (1971): 76-136.

6 On Thomas Smith see Mary Dewar's introduction to A Discourse of the Commonweal of This Realm of England, by Thomas Smith (Charlottesville: University Press of Virginia, 1969).

7 S. T. Bindhoff, Tudor England (Harmondsworth: Penguin, 1950), 114.

8 For a discussion of the causes of this period of inflation see R. B. Outhwaite, Inflation in Tudor and Early Stuart England (London: Macmillan and Co., 1969), 10.

9 Clement Armstrong, "Howe to Reforme the Realme in Setting Them to Werke and to store Tillage," in Tudor Economic Documents, ed.

R. H. Tawney and Eileen Powers (1924; reprint, New York: Barnes and Noble, 1963) 3: 115. On Armstrong's life and writings see S. T. Bindhoff, "Clement Armstrong and His Treatises of the Commonweal," Economic History Review 17 (1944): 64-73.

10 Whitney R. D. Jones, The Tudor Commonwealth, 1529-1559 (London: Athlone Press, 1970), 37; and Max Beer, Early British Economics (1938; reprint, London: Frank Cass and Co., 1967), 86.

11 Thomas Smith, A Discourse of the Commonweal of This Realm of England, ed. Mary Dewar (Charlottesville: University Press of Virginia, 1969), 79, 101-2. In a revised edition of the Discourse, apparently written in 1581, Smith came (having perhaps been influenced by Bodin) to lay much more emphasis upon the influx into Europe of precious metals from the Americas.

12 Ibid., 63.

11 Thomas Smith, A Discourse of the Commonweal of This Realm of England, ed. Mary Dewar (Charlottesville: University Press of Virginia, 1969), 79, 101-2. In a revised edition of the Discourse, apparently written in 1581, Smith came (having perhaps been influenced by Bodin) to lay much more emphasis upon the influx into Europe of precious metals from the Americas.

12 Ibid., 63.

13 See Armstrong, "Howe to Reforme the Realme," 129, and the anonymous "Policies to Reduce this Realme of England Unto a Prosperous Wealthe and Estate," in Tudor Economic Documents, 3: 318; see also 3: 321.

14 Smith, 86; my emphasis.

15 Ibid., 85.

14 Smith, 86; my emphasis.

15 Ibid., 85.

16 Armstrong, 105.

17 See Gerrard Malynes, "A treatise of the Canker of England's Commonweal," in Tudor Economic Documents, 3: 386-404.

18 Thomas Mun, England's Treasure by Forraign Trade (1664; reprint, Oxford: Basil Blackwell, 1928), 40.

19 Ibid., 87. A similar conception of the functioning of necessary laws of economic life was elaborated by Mun's disciple Edward Misselden in The Circle of Commerce (1623; reprint, Amsterdam: Theatrum Orbis Terrarum, 1969), esp. 112.

18 Thomas Mun, England's Treasure by Forraign Trade (1664; reprint, Oxford: Basil Blackwell, 1928), 40.

19 Ibid., 87. A similar conception of the functioning of necessary laws of economic life was elaborated by Mun's disciple Edward Misselden in The Circle of Commerce (1623; reprint, Amsterdam: Theatrum Orbis Terrarum, 1969), esp. 112.

20 Mun, 16-17; see also Misselden, 95. Even this level of analysis indicates more sophistication than that attributed to the mercantilists by Adam Smith. This is not to imply, however, that Mun had a theoretically adequate concept of money or of value. On the contrary, the social preconditions for such a theory, rooted in production based upon "abstract human labour" (Marx), did not yet exist.

21 Mun, 52.

22 Misselden, 142.

23 Supple, 213, 216.

24 See for example Eric Roll, A History of Economic Thought, 4th ed. (London: Faber and Faber, 1973), 78: " England's Treasure is a clear synthesis and development of the most advanced mercantilist theories."

25 Joyce Oldham Appleby, Economic Thought and Ideology in Seventeenth-Century England (Princeton: Princeton University Press, 1978), 202 n 5.

26 Mun, 7, 73.

27 Ibid., 21.

28 Ibid., 1.

29 Ibid., 19.

26 Mun, 7, 73.

27 Ibid., 21.

28 Ibid., 1.

29 Ibid., 19.

26 Mun, 7, 73.

27 Ibid., 21.

28 Ibid., 1.

29 Ibid., 19.

26 Mun, 7, 73.

27 Ibid., 21.

28 Ibid., 1.

29 Ibid., 19.

30 Thomas Culpepper, "A Tract Against Usurie," in Selected Works of Josiah Child, 1668-1697 (Farnborough Honts, England: Gregg Press, 1968), 1: 27, 28. All of the works reprinted in this selection are paginated independently so that page numbers repeat within a single volume.

31 Karl Marx, A Contribution to the Critique of Political Economy, trans. S. W. Ryazanskaya (Moscow: Progress Publishers, 1970), 53 n; Beer, 167-68; Roll, 99; Schumpeter, 213; Ronald Meek, Studies in the Labour Theory of Value, 2d ed. (London: Lawrence and Wishart, 1973), 39; Henry William Spiegel, The Growth of Economic Thought (Durham, N.C.: Duke University Press, 1971), 126, 129.

32 William Letwin, The Origins of Scientific Economics (London: Methuen and Co., 1963), 146.

33 Christopher Hill, The Century of Revolution, 1603-1714 (1961; reprint, London: Sphere Books, 1974), 159.

34 Christopher Hill, The Intellectual Origins of the English Revolution (1965; reprint, London: Granada Publishing, 1972), 116.

35 Charles Webster, The Great Instauration: Science, Medicine, and Reform, 1616-1660 (London: Duckworth and Co., 1975), 25; my emphasis.

36 Francis Bacon, The New Organon, ed. Fulton H. Anderson (Indianapolis: Bobbs-Merrill Co., 1960), 95. On Bacon's critique of crude empiricism see 67.

37 Hill, Intellectual Origins, 110.

38 Bacon, "Preparative Toward Natural and Experimental History," in New Organon, 277.

39 Ibid., 279.

38 Bacon, "Preparative Toward Natural and Experimental History," in New Organon, 277.

39 Ibid., 279.

40 Webster, 427.

41 George Edwin Fussell, The Old English Farming Books from Fitzherbert to Tull, 1523-1730 (London: Lockwood and Son, 1947), chap. 4.

42 Webster, 489-90.

43 For a useful introduction to this tradition of political thought and its early modern reception and modification in England see Zera S. Fink, The Classical Republicans, 2d ed. (Evanston: Northwestern University Press, 1962), chap. 1.

44 Among the best treatments of this revolution from below during the 1640s are Christopher Hill, The World Turned Upside Down (Harmondsworth: Penguin, 1975); Brian Manning, The English People and the English Revolution (Harmondsworth: Penguin, 1978); and H. N. Brailsford, The Levellers and the English Revolution, ed. Christopher Hill (1961; reprint, London: Spokesman, 1976) (see also note 22 of chapter 1).

45 J. G. A. Pocock, ed., The Political Works of James Harrington (Cambridge: Cambridge University Press, 1977), 284, 259, 257. For Harrington's use of the term "natural aristocracy" see 173, 262, 284, 416; for his attacks on "levellers" see 292-93, 429-30, 658.

46 Ibid., 173.

45 J. G. A. Pocock, ed., The Political Works of James Harrington (Cambridge: Cambridge University Press, 1977), 284, 259, 257. For Harrington's use of the term "natural aristocracy" see 173, 262, 284, 416; for his attacks on "levellers" see 292-93, 429-30, 658.

46 Ibid., 173.

47 Harrington's use of the term "political anatomy" can be found in "The Art of Lawgiving," ed. Pocock, 656.

48 Ibid., 170, 179, 320-21, 401, 415, 658.

49 Ibid., 470.

50 Ibid., 292-94, 304, 429-30.

47 Harrington's use of the term "political anatomy" can be found in "The Art of Lawgiving," ed. Pocock, 656.

48 Ibid., 170, 179, 320-21, 401, 415, 658.

49 Ibid., 470.

50 Ibid., 292-94, 304, 429-30.

47 Harrington's use of the term "political anatomy" can be found in "The Art of Lawgiving," ed. Pocock, 656.

48 Ibid., 170, 179, 320-21, 401, 415, 658.

49 Ibid., 470.

50 Ibid., 292-94, 304, 429-30.

47 Harrington's use of the term "political anatomy" can be found in "The Art of Lawgiving," ed. Pocock, 656.

48 Ibid., 170, 179, 320-21, 401, 415, 658.

49 Ibid., 470.

50 Ibid., 292-94, 304, 429-30.

51 E. Strauss, Sir William Petty: Portrait of a Genius (London: Bodley Head, 1954), 18.

52 H. F. Russell Smith, Harrington and His Oceana (Cambridge: Cambridge University Press, 1914), 131.

53 Frank Amati and Tony Aspromourgos, "Petty contra Hobbes: A Previously Untranslated Manuscript," Journal of the History of Ideas 66 (1985): 127-32.

54 The Petty Papers: Some Unpublished Writings of Sir William Petty, ed. Marquis of Lansdowne (London: Constable and Co., 1927), doc. 60, 1: 205-7.

55 William Petty, "Political Arithmetick," in Economic Writings of Sir William Petty, ed. Charles Henry Hull (1889; reprint, New York: Augustus M. Kelley, 1963), 1: 129.

56 Ibid., 1: 244.

55 William Petty, "Political Arithmetick," in Economic Writings of Sir William Petty, ed. Charles Henry Hull (1889; reprint, New York: Augustus M. Kelley, 1963), 1: 129.

56 Ibid., 1: 244.

57 Marie O'Brien and Conor Cruise O'Brien, A Concise History of Ireland, 2d ed. (London: Thames and Hudson, 1973), 69.

58 Webster, 67.

59 Ibid., 437.

58 Webster, 67.

59 Ibid., 437.

60 See Petty's discussion of his survey in his proposal for an Irish land registry, in The Petty Papers, doc. 25, 1: 77-90.

61 Petty, "Observations of England," ibid., doc. 61, 1: 208.

62 Petty, "Inclosing Commons," ibid., doc. 118, 2: 129.

60 See Petty's discussion of his survey in his proposal for an Irish land registry, in The Petty Papers, doc. 25, 1: 77-90.

61 Petty, "Observations of England," ibid., doc. 61, 1: 208.

62 Petty, "Inclosing Commons," ibid., doc. 118, 2: 129.

60 See Petty's discussion of his survey in his proposal for an Irish land registry, in The Petty Papers, doc. 25, 1: 77-90.

61 Petty, "Observations of England," ibid., doc. 61, 1: 208.

62 Petty, "Inclosing Commons," ibid., doc. 118, 2: 129.

63 Petty, "Political Arithmetick," in Economic Writings, 1: 249.

64 Ibid., 1: 249, 269.

63 Petty, "Political Arithmetick," in Economic Writings, 1: 249.

64 Ibid., 1: 249, 269.

65 Petty, "Irish Land Registry," in Petty Papers, doc. no. 25, 1: 90.

66 Ibid., doc. no. 25, 1: 77.

65 Petty, "Irish Land Registry," in Petty Papers, doc. no. 25, 1: 90.

66 Ibid., doc. no. 25, 1: 77.

67 Petty, "A Treatise of Taxes and Contributions," in Economic Writings, 1: 34, 28, 33.

68 Ibid., 1: 43.

67 Petty, "A Treatise of Taxes and Contributions," in Economic Writings, 1: 34, 28, 33.

68 Ibid., 1: 43.

69 Letwin, 144.

70 Petty, "Treatise," in Economic Writings, 1: 43.

71 Ibid.

72 Ibid., 1: 50; emphasis in original.

73 Ibid., 1: 44-45.

70 Petty, "Treatise," in Economic Writings, 1: 43.

71 Ibid.

72 Ibid., 1: 50; emphasis in original.

73 Ibid., 1: 44-45.

70 Petty, "Treatise," in Economic Writings, 1: 43.

71 Ibid.

72 Ibid., 1: 50; emphasis in original.

73 Ibid., 1: 44-45.

70 Petty, "Treatise," in Economic Writings, 1: 43.

71 Ibid.

72 Ibid., 1: 50; emphasis in original.

73 Ibid., 1: 44-45.

74 Petty, "Of Lands and Hands," in Petty Papers, doc. no. 58, 1: 196.

75 Petty, "Political Anatomy of Ireland," in Economic Writings, 1: 181.

76 Petty was not, however, an advocate of a single tax on land or land rent. Instead, he favoured taxing consumption as a way of encouraging saving. See "Treatise," 1: 91-94.

77 Ibid., 1: 181.

78 Ibid., 1: 182.

76 Petty was not, however, an advocate of a single tax on land or land rent. Instead, he favoured taxing consumption as a way of encouraging saving. See "Treatise," 1: 91-94.

77 Ibid., 1: 181.

78 Ibid., 1: 182.

76 Petty was not, however, an advocate of a single tax on land or land rent. Instead, he favoured taxing consumption as a way of encouraging saving. See "Treatise," 1: 91-94.

77 Ibid., 1: 181.

78 Ibid., 1: 182.

79 Petty did not devote great attention to discussing the phenomenon of wage labour, in large measure because he consistently took it for granted. From time to time he did, however, make explicit his implicit assumption that the direct agricultural producer was a wage labourer; see for example "Treatise," 1: 87.

80 Schumpeter treats Child throughout his History as a major theorist of distinction; see especially 242, 290-91, 362-64. However, as Letwin has pointed out ( Origins, 46 n 2), Schumpeter mistakenly attributes to Child a pamphlet which expressed relatively sophisticated views. Letwin is correct to claim that "Child never set down any systematic analysis of economic relations" but is clearly in error when he claims that Child had no important influence on the development of economic thought. As I point out in the next chapter, Child's work played a central role in transmitting English political economy to France.

81 Child, "Brief Observations Concerning Trade and Interest of Money," in Selected Works of Josiah Child, 1: 10.

82 Child, "A New Discourse of Trade," ibid., 1: 140.

83 Ibid., 1: 181, 19; emphasis in original.

81 Child, "Brief Observations Concerning Trade and Interest of Money," in Selected Works of Josiah Child, 1: 10.

82 Child, "A New Discourse of Trade," ibid., 1: 140.

83 Ibid., 1: 181, 19; emphasis in original.

81 Child, "Brief Observations Concerning Trade and Interest of Money," in Selected Works of Josiah Child, 1: 10.

82 Child, "A New Discourse of Trade," ibid., 1: 140.

83 Ibid., 1: 181, 19; emphasis in original.

84 Child, "A Discourse of the Nature, Use, and Advantages of Trade," in Selected Works, 2: 14. On the unemployment problem in seventeenth-century English economics see N. G. Pauling, "The Employment Problem in Pre-Classical English Economic Thought," Economic Record, 27 (1951): 52-65.

85 Child, "A Discourse of the Nature of Trade," in Selected Works, 2: 7-8.

86 Ibid., 2: 27.

85 Child, "A Discourse of the Nature of Trade," in Selected Works, 2: 7-8.

86 Ibid., 2: 27.

87 Karen Iversen Vaughn, John Locke: Economist and Social Scientist (Chicago: University of Chicago Press, 1980), 14. On Locke's Baconian heritage see Neal Wood, The Politics of Locke's Philosophy (Berkeley: University of California Press, 1983), chap. 4.

88 K. H. D. Haley, The First Earl of Shaftesbury (Oxford: Clarendon Press, 1968), 705, 251. For discussion of Shaftesbury's landed investments and his interest in agricultural improvement see 210-11, 218-19, 234. From this discussion it should be clear that my interpretation of the social and political thought of Shaftesbury and Locke is quite different from that advanced by Richard Ashcraft ( Revolutionary Politics and Locke's Two Treatises of Government [Princeton: Princeton University Press, 1986]), whose failure to come to terms with the issue of agrarian capitalism clouds his understanding of the social outlook of the early Whigs. This issue is discussed at more length in my forthcoming article, "Locke, Levellers, and Liberty: Property and Democracy in the Thought of the First Whigs," to be published in History of Political Thought .

89 For a treatment of Locke as a scholastic-mercantilist see Beer, 128, 234-35. Vaughn considers Locke the great anticipator of a marginal-type theory of value, whereas Meek (21-23) sees him as a formulator of the labour theory of value who had not entirely shaken off the heri-

tage of mercantilism. Guy Routh, The Origin of Economic Ideas (London: Macmillan and Co., 1975), 47-49, maintains that Locke adhered to both a marginalist and a labour theory of value.

90 Letwin, 168.

91 The influence on Locke of the seventeenth-century agricultural revolution and literature of agricultural improvement is examined in Neal Wood, John Locke and Agrarian Capitalism (Berkeley: University of California Press, 1984), chap. 2.

92 Vaughn, 17. On Locke's debt to Petty see Wood, Locke and Agrarian Capitalism, 34-37, 125 n .14.

93 Locke, "The Second Treatise of Government," in Two Treatises of Government, by John Locke, rev. edn., ed. Peter Laslett (New York: New American Library, 1965), 336.

94 Ibid., 340. Strictly speaking, this is not a pure labour theory of value, since the value of labour is calculated in terms of the market values of the commodities it produces. On this point see Vaughn, 87.

93 Locke, "The Second Treatise of Government," in Two Treatises of Government, by John Locke, rev. edn., ed. Peter Laslett (New York: New American Library, 1965), 336.

94 Ibid., 340. Strictly speaking, this is not a pure labour theory of value, since the value of labour is calculated in terms of the market values of the commodities it produces. On this point see Vaughn, 87.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

95 Locke, "Some Considerations of the Consequences of the Lowering of Interest, and Raising the Value of Money," in Several Papers Relating to Money, Interest, and Trade, by John Locke (1696; reprint, New York: Augustus M. Kelley, 1968), 30-31.

96 Ibid., 42.

97 Ibid., 88, 90.

98 Ibid., 100.

99 Ibid., 84.

100 Ibid., 44.

101 Locke, "Short Observations on a Printed Paper," in Several Papers, 21, 55-56, 87. It should be noted that these echoes of Petty did not necessarily derive directly from the latter's writings since many of these ideas were in the air at the time. Yet the combination of some unique terminology and lines of argument which appear to derive from Petty and the fact that Locke possessed Petty's main works, along with the obvious political and intellectual affinity between the two men, suggests that Petty should be considered a significant source of Locke's economic analysis.

102 For a discussion of Locke's concept of the wage earner see Wood, Locke and Agrarian Capitalism, 40-41, 44-45.

103 For a discussion of the increasing tendency in seventeenth-century economic literature to assert the harmony of commercial and landed interests see J. A. W. Gunn, Politics and the Public Interest in the Seventeenth Century (London: Routledge and Kegan Paul, 1969), esp. 258-63.

104 Nicholas Barbon, A Discourse of Trade, ed. Jacob Hollander (1690; reprint, Baltimore: Johns Hopkins University Press, 1905), 20.

105 Ibid., 27, 42.

104 Nicholas Barbon, A Discourse of Trade, ed. Jacob Hollander (1690; reprint, Baltimore: Johns Hopkins University Press, 1905), 20.

105 Ibid., 27, 42.

106 Dudley North, Discourses Upon Trade, ed. Jacob Hollander (1691; reprint, Baltimore: Johns Hopkins Press, 1907), 17.

107 This issue is perceptively discussed by Joyce Oldham Appleby, "Ide-

ology and Theory: The Tension between Political and Economic Liberalism in Seventeenth-Century England," American Historical Review 81 (1976): 499-515.

108 Nannerl O. Keohane, Philosophy and the State in France (Princeton: Princeton University Press, 1980), 34.

109 Charles Woolsey Cole, Colbert and a Century of French Mercantilism (1939; reprint, Hamden, Conn.: Archon Books, 1964), 1: 553-54.

110 Such a conflation characterizes the very valuable study by Lionel Rothkrug, Opposition to Louis XIV: The Political and Social Origins of the French Enlightenment (1943; reprint, Princeton: Princeton University Press, 1965). Cole, French Mercantilism, 1683-1700 (New York: Octagon Books, 1965), 5, employs the same approach.

111 Antoyne de Montchrétien, Traicté de l'oéconomie politique dédié en 1615 au roy et la reyne mère du roy, ed. Théodor Funck-Brentano (Paris: Librairie Plon, 1889), 5, 17, 31, 18, 20.

112 Ibid., 23-24, 141-42, 140, 40-41, 45.

111 Antoyne de Montchrétien, Traicté de l'oéconomie politique dédié en 1615 au roy et la reyne mère du roy, ed. Théodor Funck-Brentano (Paris: Librairie Plon, 1889), 5, 17, 31, 18, 20.

112 Ibid., 23-24, 141-42, 140, 40-41, 45.

113 A. D. Lublinskaya, French Absolutism: The Crucial Phase, 1620-1629, trans. Brian Pearce (Cambridge: Cambridge University Press, 1968), 131.

114 Franklin Charles Palm, The Economic Policies of Richelieu (1922; reprint, New York: Johnson Reprint Co., 1970), 19. See also Cole, Colbert, 1: 146.

115 Henry Bertram Hill, ed. and trans., The Political Testament of Cardinal Richelieu (Madison: University of Wisconsin Press, 1961), 11.

116 As quoted by Cole, Colbert, 1: 138.

117 As quoted in ibid., 1: 343. See also William F. Church, ed. and trans., "Lettres, instructions, et mémoires de Colbert," in The Impact of Absolutism in France (New York: John Wiley and Sons, 1969).

116 As quoted by Cole, Colbert, 1: 138.

117 As quoted in ibid., 1: 343. See also William F. Church, ed. and trans., "Lettres, instructions, et mémoires de Colbert," in The Impact of Absolutism in France (New York: John Wiley and Sons, 1969).

118 As quoted by Cole, Colbert, 1: 334. In his French Mercantilism, 224 n l, Cole had argued, "Mercantilism was in essence bourgeois and that class was the one most benefited by the application of its tenets." By the time of his study on Colbert he seems to have abandoned this view.

119 Ibid., 1: 333.

118 As quoted by Cole, Colbert, 1: 334. In his French Mercantilism, 224 n l, Cole had argued, "Mercantilism was in essence bourgeois and that class was the one most benefited by the application of its tenets." By the time of his study on Colbert he seems to have abandoned this view.

119 Ibid., 1: 333.

120 Rothkrug, 364.

121 Keohane, chaps. 1 and 14. There were, of course, different traditions of constitutionalism in early modern France. For the sake of simplicity, I have had to ignore such distinctions. On the various forms of French constitutionalist thought see Quentin Skinner, The Foundations of Modern Political Thought (Cambridge: Cambridge University Press, 1978), vol. 2, The Age of Reformation, pt. 2.

122 Quoted by Rothkrug, 73-74.

123 Sébastien Le Prestre de Vauban, La Dîme royale (Paris: Bibliothèque Nationale, 1872), 11-12, 23.

124 Ibid., 10.

123 Sébastien Le Prestre de Vauban, La Dîme royale (Paris: Bibliothèque Nationale, 1872), 11-12, 23.

124 Ibid., 10.

125 Quoted by Hazel Van Dyke Roberts, Boisguilbert: Economist of the Reign of Louis XIV (New York: Columbia University Press, 1935), 41.

126 Cole wrote that Boisguilbert "made statements that have the ring of the nineteenth or twentieth century rather than the seventeenth" ( French Mercantilism, 244). Roberts argues the rather extreme thesis that Boisguilbert's "Dissertation" served as the "prototype" for The Wealth of Nations ( Boisguilbert, chap. 16).

127 Pierre de Boisguilbert, "Dissertation de la nature des richesses, de l'argent et des tributs..." in Pierre de Boisguilbert ou la naissance de l'économie politique (Paris: Institut National d'Etudes Démographiques, 1966), 2: 974; my translation.

128 Ibid., 2: 1000; my translation.

129 Boisguilbert, "Traité de la nature, culture, commerce, et intérêt de I'argent" in Pierre de Boisguilbert ou la naissance de l'économie politique, 2: 833; my translation. See also "Le Détail de la France," ibid., 2: 588.

127 Pierre de Boisguilbert, "Dissertation de la nature des richesses, de l'argent et des tributs..." in Pierre de Boisguilbert ou la naissance de l'économie politique (Paris: Institut National d'Etudes Démographiques, 1966), 2: 974; my translation.

128 Ibid., 2: 1000; my translation.

129 Boisguilbert, "Traité de la nature, culture, commerce, et intérêt de I'argent" in Pierre de Boisguilbert ou la naissance de l'économie politique, 2: 833; my translation. See also "Le Détail de la France," ibid., 2: 588.

127 Pierre de Boisguilbert, "Dissertation de la nature des richesses, de l'argent et des tributs..." in Pierre de Boisguilbert ou la naissance de l'économie politique (Paris: Institut National d'Etudes Démographiques, 1966), 2: 974; my translation.

128 Ibid., 2: 1000; my translation.

129 Boisguilbert, "Traité de la nature, culture, commerce, et intérêt de I'argent" in Pierre de Boisguilbert ou la naissance de l'économie politique, 2: 833; my translation. See also "Le Détail de la France," ibid., 2: 588.

130 Boisguilbert, "Le Détail," 2: 584; my translation.

131 Ibid., 2: 619.

132 Ibid., 2: 599, 645.

130 Boisguilbert, "Le Détail," 2: 584; my translation.

131 Ibid., 2: 619.

132 Ibid., 2: 599, 645.

130 Boisguilbert, "Le Détail," 2: 584; my translation.

131 Ibid., 2: 619.

132 Ibid., 2: 599, 645.

133 On the agricultural cycle and the nature of depressions see Boisguilbert, "Traité," 2: 847-52.

134 Ibid., 2: 857; my translation.

133 On the agricultural cycle and the nature of depressions see Boisguilbert, "Traité," 2: 847-52.

134 Ibid., 2: 857; my translation.

135 Boisguilbert, "Dissertation," 2: 933; my translation.

136 Ibid., 2: 991.

137 Boisguilbert's letter of July 1704 as quoted by Roberts, 51. On distributive justice see "Le Détail," 2: 648-49; on equilibrium see "Traité," 2: 840, 862, 874; and on proportional prices see ibid., 2: 874, and "Dissertation," 2: 993.

135 Boisguilbert, "Dissertation," 2: 933; my translation.

136 Ibid., 2: 991.

137 Boisguilbert's letter of July 1704 as quoted by Roberts, 51. On distributive justice see "Le Détail," 2: 648-49; on equilibrium see "Traité," 2: 840, 862, 874; and on proportional prices see ibid., 2: 874, and "Dissertation," 2: 993.

135 Boisguilbert, "Dissertation," 2: 933; my translation.

136 Ibid., 2: 991.

137 Boisguilbert's letter of July 1704 as quoted by Roberts, 51. On distributive justice see "Le Détail," 2: 648-49; on equilibrium see "Traité," 2: 840, 862, 874; and on proportional prices see ibid., 2: 874, and "Dissertation," 2: 993.

138 See Louis Salleron, "Boisguilbert, précurseur des physiocrates," and Jean Molinier, "L'Analyse globale de Boisguilbert ou l'ébauche du 'Tableau économique,'" in Pierre de Boisguilbert ou la naissance de l'économie politique, vol. 1.

139 Karl Marx, Theories of Surplus Value, trans. Emile Burns, ed. S. W. Ryazanskaya (Moscow: Progress Publishers., 1963), 1: 356-57. See also Meek, Studies, 36, and Isaac Ilyich Rubin, A History of Economic Thought, trans. Donald Filtzer (London: Ink Links, 1979), 72.

1 Joseph Schumpeter, Economic Doctrine and Method, trans. R. Aris (London: George Allen and Unwin, 1954), 43-44. See also Eric Roll, A History of Economic Thought, 4th ed. (London: Faber and Faber, 1973), 130; and Michael Bleaney, Underconsumption Theories: A History and Critical Analysis (New York: International Publishers, 1976), 84. It is beyond the bounds of this discussion to take up the question as to what constitutes a "scientific" economics. My own approach to this

question begins from Marx's distinction between classical and vulgar political economy. See Karl Marx, Capital, trans. Ben Fowkes (Harmondsworth: Penguin, 1976),1: 174 n -75 n .

2 Norman J. Ware, ''The Physiocrats: A Study in Economic Rationalization," American Economic Review 21 (1931): 607; Max Beer, An Inquiry into Physiocracy (1939; reprint, New York: Russell and Russell, 1966), 17; Thomas P. Neill, "Quesnay and Physiocracy," Journal of the History of Ideas 9 (1948): 153; Bert F. Hoselitz, "Agrarian Capitalism, the Natural Order of Things: François Quesnay," Kyklos 21 (1968): 638.

3 Elizabeth Fox-Genovese, The Origins of Physiocracy: Economic Revolution and Social Order in Eighteenth-Century France (Ithaca: Cornell University Press, 1976), 13.

4 Georges Weulerrse, Le Mouvement physiocratique en France (de 1756 à 1770) (1910; reprint, Paris: Editions Mouton, 1968), 2: 148; my translation.

5 Ibid., 2: 684-85; my translation. Weulerrse does recognize that there are "feudal vestiges" in the physiocratic system, although he downplays their importance; see 2: 710.

4 Georges Weulerrse, Le Mouvement physiocratique en France (de 1756 à 1770) (1910; reprint, Paris: Editions Mouton, 1968), 2: 148; my translation.

5 Ibid., 2: 684-85; my translation. Weulerrse does recognize that there are "feudal vestiges" in the physiocratic system, although he downplays their importance; see 2: 710.

6 Hoselitz, "Agrarian Capitalism," 637, 650, 657; Guy Routh, The Origin of Economic Ideas (London: Macmillan and Co., 1975), 79.

7 Warren J. Samuels, "The Physiocratic Theory of Property and the State," Quarterly Journal of Economics 75 (1961): 110. See also idem., "The Physiocratic Theory of Economic Policy," Quarterly Journal of Economics 76 (1962).

8 Roll, History of Economic Thought, 135; Joseph Schumpeter, History Of Economic Analysis (New York: Oxford University Press, 1954), 228.

9 Beer, Inquiry, 13, 169-70.

10 Karl Marx, Theories of Surplus Value, trans. Emile Burns, ed. S. W. Ryazanskaya (Moscow: Progress Publishers, 1963), 1: 152.

11 Ronald Meek, "The Case of the French Physiocrats," in Events, Ideology, and Economic Theory, ed. Robert V. Eagly (Detroit, Mich.: Wayne State University Press, 1968), 55. The same perspective informs Meek's The Economics of Physiocracy (Cambridge, Mass.: Harvard University Press, 1963) (hereafter cited as EP ).

12 Fox-Genovese, 235.

13 Ibid., 265, 58, 61.

12 Fox-Genovese, 235.

13 Ibid., 265, 58, 61.

14 Jan Marczewski, "Some Aspects of the Economic Growth of France," Economic Development and Cultural Change 9 (1961): 370.

15 Abbé Le Blanc, Letters on the English and French Nations, 2 vols. (London, 1747), as quoted by André Bourde, The Influence of England on the French Agronomes (Cambridge: Cambridge University Press, 1953), 18-19.

16 See Bourde, chap. 4.

17 Patullo, Essai, as quoted in ibid., 83; my translation.

16 See Bourde, chap. 4.

17 Patullo, Essai, as quoted in ibid., 83; my translation.

18 Marc Bloch, "La lutte pour l'individualisme agraire dans la France du XVIIIe siècle, 2e partie," Annales d'histoire économique et sociale 2 (1930): 536.

19 Marc Bloch, French Rural History: An Essay on its Basic Characteristics, trans. Janet Sondheimer (Berkeley: University of California Press, 1966), 221-22.

20 Bourde, 103-4.

21 Bloch, French Rural History, 206.

22 Stephen L. Kaplan, Bread, Politics, and Political Economy in the Reign of Lout's XV (The Hague: Nijhoff, 1976), 1: 86.

23 My discussion of Herbert and Forbonnais relies on ibid., 1: 101-4, 111-12.

24 Ibid., 1: chap. 3.

22 Stephen L. Kaplan, Bread, Politics, and Political Economy in the Reign of Lout's XV (The Hague: Nijhoff, 1976), 1: 86.

23 My discussion of Herbert and Forbonnais relies on ibid., 1: 101-4, 111-12.

24 Ibid., 1: chap. 3.

22 Stephen L. Kaplan, Bread, Politics, and Political Economy in the Reign of Lout's XV (The Hague: Nijhoff, 1976), 1: 86.

23 My discussion of Herbert and Forbonnais relies on ibid., 1: 101-4, 111-12.

24 Ibid., 1: chap. 3.

25 Weulerrse, Le Mouvement physiocratique, 1: 34.

26 Schumpeter, History, 218.

27 The most reliable biographical information on Cantillon is provided by Joseph Hone, "Richard Cantillon, Economist—Biographical Note," Economic Journal 65 (1944). W. Stanley Jevons's article, "Richard Cantillon and the Nationality of Political Economy," was first published in the Contemporary Review, January 1881, and is reprinted in Richard Cantillon, Essai sur la nature du commerce en général ( Essay on the Nature of Trade in General ), trans. and ed. Henry Higgs (New York: Augustus M. Kelley, 1964). See also Henry Higgs, "Richard Cantillon," Economic Journal 1 (1891); and idem, "Cantillon's Place in Economics,'' Quarterly Journal of Economics 6 (1892).

28 On the influence of Petty on Cantillon see Higgs, "Cantillon's Place," 438; Roll, 124; and Schumpeter, History, 217 n, 218-19. For an assessment of Cantillon's theoretical achievements see Joseph J. Spengler, "Richard Cantillon: First of the Moderns," parts 1, 2, Journal of Political Economy 62 (1954).

29 Cantillon, Essai, 3, 15, 43.

30 Ibid., 123. Schumpeter, History, 222, writes that "Cantillon had a clear conception of the function of the entrepreneur (ch. 13)." Cantillon did not, however, work with a model based upon capitalists and wage labourers; indeed, in the Essai he includes labourers and beggars in his category of "entrepreneurs."

29 Cantillon, Essai, 3, 15, 43.

30 Ibid., 123. Schumpeter, History, 222, writes that "Cantillon had a clear conception of the function of the entrepreneur (ch. 13)." Cantillon did not, however, work with a model based upon capitalists and wage labourers; indeed, in the Essai he includes labourers and beggars in his category of "entrepreneurs."

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

31 Cantillon, Essai, 123, 47; see also 61-63.

32 Ibid., 31.

33 Ibid., 29; my emphasis.

34 Ibid., 43.

35 Ibid., 35.

36 Ibid., 41.

37 Higgs, "Cantillon's Place," 454. For Cantillon's influence on Physiocracy see Schumpeter, History, 242; and Vernon Foley, "An Origin of the Tableau économique, " History of Political Economy 5 (1973): 139-41.

38 For Mirabeau's conversion see Meek, EP, 16-18. On Quesnay's life see Jacqueline Hecht, "La vie de François Quesnay," in François Quesnay et la physiocratie, 2 vols. (Paris: Institut National d'Etudes Démographiques, 1958).

39 As quoted by Weulerrse, Le Mouvement physiocratique, 1: 159.

40 Robert V. Eagly, The Structure of Classical Economic Theory (New York: Oxford University Press, 1974), 10.

41 It is interesting that the largest collection of English translations from physiocratic writings, Meek's EP, does not include any excerpts from this article.

42 Quesnay, "Fermiers," François Quesnay et la physiocratie, 2: 427; my translation; emphasis in original.

43 Ibid., 455; my translation.

44 Ibid., 446, 452, 451.

45 Ibid., 428, 435, 431, 440; my translations.

46 Ibid., 452; my translation.

42 Quesnay, "Fermiers," François Quesnay et la physiocratie, 2: 427; my translation; emphasis in original.

43 Ibid., 455; my translation.

44 Ibid., 446, 452, 451.

45 Ibid., 428, 435, 431, 440; my translations.

46 Ibid., 452; my translation.

42 Quesnay, "Fermiers," François Quesnay et la physiocratie, 2: 427; my translation; emphasis in original.

43 Ibid., 455; my translation.

44 Ibid., 446, 452, 451.

45 Ibid., 428, 435, 431, 440; my translations.

46 Ibid., 452; my translation.

42 Quesnay, "Fermiers," François Quesnay et la physiocratie, 2: 427; my translation; emphasis in original.

43 Ibid., 455; my translation.

44 Ibid., 446, 452, 451.

45 Ibid., 428, 435, 431, 440; my translations.

46 Ibid., 452; my translation.

42 Quesnay, "Fermiers," François Quesnay et la physiocratie, 2: 427; my translation; emphasis in original.

43 Ibid., 455; my translation.

44 Ibid., 446, 452, 451.

45 Ibid., 428, 435, 431, 440; my translations.

46 Ibid., 452; my translation.

47 Meek, EP, 267.

48 Quesnay, "Grains," François Quesnay et la physiocratie, 495; as translated by Meek, EP, 76.

49 Quesnay, "Grains," 498; as translated by W. A. Eltis, "François Quesnay: A Reinterpretation, 1. The Tableau économique, " Oxford Economic Papers, n. ser., 27 (1975): 170.

50 Quesnay, "Grains," 83; my translation. This does not mean that Quesnay consciously pursued a capitalist orientation, merely that the social arrangements he advocated were capitalist, whether he knew it or not.

51 Ibid., 480, 505; my translation. On Cantillon's influence on this work see Meek, EP, 268.

50 Quesnay, "Grains," 83; my translation. This does not mean that Quesnay consciously pursued a capitalist orientation, merely that the social arrangements he advocated were capitalist, whether he knew it or not.

51 Ibid., 480, 505; my translation. On Cantillon's influence on this work see Meek, EP, 268.

52 Quesnay, "Grains," 484; my translation.

53 Ibid., 496.

54 Ibid., 505, 505-6; as translated by Meek, EP, 82.

52 Quesnay, "Grains," 484; my translation.

53 Ibid., 496.

54 Ibid., 505, 505-6; as translated by Meek, EP, 82.

52 Quesnay, "Grains," 484; my translation.

53 Ibid., 496.

54 Ibid., 505, 505-6; as translated by Meek, EP, 82.

55 Quesnay, "Hommes," François Quesnay et la physiocratie, 527-28, 547, 560, 563; as translated by Meek, EP, 91, 95, 98, 100. The last passage clearly disproves Beer's thesis.

56 Ibid., 524, 548, 553-54, 568.

57 Ibid., 558; as translated by Meek, EP, 98.

58 Ibid., 553; as translated by Meek, EP, 97. On feudalism see "Hommes," 567.

59 Ibid., 540; my translation.

55 Quesnay, "Hommes," François Quesnay et la physiocratie, 527-28, 547, 560, 563; as translated by Meek, EP, 91, 95, 98, 100. The last passage clearly disproves Beer's thesis.

56 Ibid., 524, 548, 553-54, 568.

57 Ibid., 558; as translated by Meek, EP, 98.

58 Ibid., 553; as translated by Meek, EP, 97. On feudalism see "Hommes," 567.

59 Ibid., 540; my translation.

55 Quesnay, "Hommes," François Quesnay et la physiocratie, 527-28, 547, 560, 563; as translated by Meek, EP, 91, 95, 98, 100. The last passage clearly disproves Beer's thesis.

56 Ibid., 524, 548, 553-54, 568.

57 Ibid., 558; as translated by Meek, EP, 98.

58 Ibid., 553; as translated by Meek, EP, 97. On feudalism see "Hommes," 567.

59 Ibid., 540; my translation.

55 Quesnay, "Hommes," François Quesnay et la physiocratie, 527-28, 547, 560, 563; as translated by Meek, EP, 91, 95, 98, 100. The last passage clearly disproves Beer's thesis.

56 Ibid., 524, 548, 553-54, 568.

57 Ibid., 558; as translated by Meek, EP, 98.

58 Ibid., 553; as translated by Meek, EP, 97. On feudalism see "Hommes," 567.

59 Ibid., 540; my translation.

55 Quesnay, "Hommes," François Quesnay et la physiocratie, 527-28, 547, 560, 563; as translated by Meek, EP, 91, 95, 98, 100. The last passage clearly disproves Beer's thesis.

56 Ibid., 524, 548, 553-54, 568.

57 Ibid., 558; as translated by Meek, EP, 98.

58 Ibid., 553; as translated by Meek, EP, 97. On feudalism see "Hommes," 567.

59 Ibid., 540; my translation.

60 Quesnay, "Impôts," François Quesnay et la phystocratie, 2: 581; as translated by Meek, EP, 103.

61 Ibid., 582; my translation.

60 Quesnay, "Impôts," François Quesnay et la phystocratie, 2: 581; as translated by Meek, EP, 103.

61 Ibid., 582; my translation.

62 On the history of the various editions of the Tableau see the introduction to Quesnay's Tableau Economique, ed. and trans. Marguerite Kuczynski and Ronald Meek (London: Macmillan and Co., 1972). Quesnay's major elaborations of the Tableau —the famous "Analysis," the "First Problem," and the ''Second Problem"—are reprinted in Meek, EP . The Tableau also figured centrally, in a revised form, in Mirabeau's Philosophie rurale and was succinctly explained in the abbé Baudeau's Explication du tableau économique . Mark Blaug's statement in Economic Theory in Retrospect, 3d ed. (Cambridge: Cambridge University Press, 1978), 26, that the Tableau "should not be regarded as

the centerpiece of the physiocratic system" shows a failure to grasp the crucial role of this work in the physiocratic schema.

63 Victor Riqueti, marquis de Mirabeau, Philosophie rurale (Amsterdam, 1763), 19; Marx, Theories of Surplus Value, 1: 344; see also Karl Marx and Frederick Engels, Selected Correspondence, 2d ed. (Moscow: Progress Publishers, 1965), 142-46; and Karl Marx, Capital, vol. 2, trans. David Fernbach (Harmondsworth: Penguin, 1978), esp. chaps. 18-20; Schumpeter, Economic Doctrine and Method, 52. For a review of positions on the Tableau see Almarin Phillips, "The Tableau économique as a Simple Leontief Model," Quarterly Journal of Economics 69 (1955): 137-38.

64 "Letter from Quesnay to Mirabeau," Meek, EP, 117.

65 Quesnay, "The Analysis of the Tableau économique," Meek, EP, 153; Mirabeau, Philosophie rurale, 31, 71, 118, 151-52, 163, 337.

66 Kuczynski and Meek, Quesnay's Tableau, 15.

67 For an argument which demonstrates that the Tableau does indeed constitute a workable model, see Eltis. Meek, EP, 278 n 2, argues convincingly that Quesnay wrote chap. 7 of Philosophie rurale .

68 "Letter from Quesnay to Mirabeau," 117.

69 Kuczynski and Meek, Quesnay's Tableau, 22.

70 Quesnay, "General Maxims for the Economic Government of an Agricultural Kingdom," Meek, EP, 237; Kuczynski and Meek, 13, Quesnay's emphasis; Quesnay, "General Maxims," 246.

71 Quesnay, "The Second Econonomic Problem," in Meek, EP, 202, 190.

72 Quesnay, "Analysis," ibid., 163 n l.

73 Quesnay, "General Maxims," ibid., 231; emphasis in original.

74 Ibid.

75 Ibid., 260.

71 Quesnay, "The Second Econonomic Problem," in Meek, EP, 202, 190.

72 Quesnay, "Analysis," ibid., 163 n l.

73 Quesnay, "General Maxims," ibid., 231; emphasis in original.

74 Ibid.

75 Ibid., 260.

71 Quesnay, "The Second Econonomic Problem," in Meek, EP, 202, 190.

72 Quesnay, "Analysis," ibid., 163 n l.

73 Quesnay, "General Maxims," ibid., 231; emphasis in original.

74 Ibid.

75 Ibid., 260.

71 Quesnay, "The Second Econonomic Problem," in Meek, EP, 202, 190.

72 Quesnay, "Analysis," ibid., 163 n l.

73 Quesnay, "General Maxims," ibid., 231; emphasis in original.

74 Ibid.

75 Ibid., 260.

71 Quesnay, "The Second Econonomic Problem," in Meek, EP, 202, 190.

72 Quesnay, "Analysis," ibid., 163 n l.

73 Quesnay, "General Maxims," ibid., 231; emphasis in original.

74 Ibid.

75 Ibid., 260.

76 Fox-Genovese, Origins of Physiocracy, 292.

77 Quesnay, "The First Economic Problem," in Meek, EP, 180 n l; see also "General Maxims," 238.

78 Kuczynski and Meek, 17, ll n a.

79 Ibid., 12; Quesnay, "Analysis," 159; idem, "General Maxims," 231; idem, "Fermiers," 454-55; Mirabeau, Philosophie rurale, 34.

78 Kuczynski and Meek, 17, ll n a.

79 Ibid., 12; Quesnay, "Analysis," 159; idem, "General Maxims," 231; idem, "Fermiers," 454-55; Mirabeau, Philosophie rurale, 34.

80 Quesnay, "General Maxims," in Meek, EP, 233.

81 Quesnay, "Fermiers," 453; Kuczynski and Meek, 14-15, 20 n a.

82 Weulerrse, Le Mouvement physiocratique, 1: 412; see also Kaplan, 1: 116.

83 As quoted by Fox-Genovese, Origins of Physiocracy, 243.

84 Quesnay, "General Maxims," 232.

85 Quesnay, "Analysis," 160; Kuczynski and Meek, 21.

86 Weulerrse, Le Mouvement physiocratique, 1: 85-86.

87 This point is made convincingly by Foley. However, certain Newtonian and Lockean influences have been detected by some commentators (e.g., Weulerrse, Le Mouvement physiocratique, 2: 118), although these must, in my view, be seen as influences adapted to a largely Cartesian framework.

88 Mirabeau, Philosophie rurale, 190; my translation.

89 Quesnay, "Despotisme de la Chine," in François Quesnay et la physiocratie, 2: 921; my translation.

90 Guillaume-François Le Trosne, De l'ordre social (Paris, 1777), 106; my translation.

91 Mirabeau, Philosophie rurale; as translated by Meek, EP, 70.

92 Le Trosne, 134; my translation. See also Georges Weulerrse, Les Manuscrits économiques de François Quesnay et du marquis de Mirabeau aux Archives nationales (Paris: Editions Mouton, 1910), 29, 53-54; and Quesnay, "Despotisme," 233.

93 Mirabeau, Philosophie rurale; as translated by Meek, EP, 58.

94 Quesnay, "Despotisme," 919; my translation.

95 Le Trosne, 120, 124; my translation.

96 As quoted by Weulerrse, Le Mouvement physiocratique, 1: 201.

97 Quesnay, "Hommes," 540; my translation.

98 Quesnay, "Despotisme," 918; Weulerrse, Le Mouvement physiocratique, 1: 8-31.

99 Mercier de la Rivière, L'Ordre naturel et essentiel des sociétés politiques, as quoted by Mario Einaudi, The Physiocratic Doctrine of Judicial Control (Cambridge, Mass.: Harvard University Press, 1938), 41; my translation.

100 For his views on the Physiocrats and the Paris parlement see Einaudi, 47; on the connection to the American doctrine of judicial control see 88. Einaudi recognizes (43) that Mercier did not believe in the priority of the judiciary.

101 Quesnay, "Hommes," 567; and "Despotisme," 933, 919; my translation.

102 Einaudi, 47.

103 Ibid., 34.

104 As quoted in ibid., 78; my translation.

102 Einaudi, 47.

103 Ibid., 34.

104 As quoted in ibid., 78; my translation.

102 Einaudi, 47.

103 Ibid., 34.

104 As quoted in ibid., 78; my translation.

105 Quesnay, "General Maxims," in Meek, EP, 231.

106 Weulerrse, Manuscrits, 66; Einaudi (34) sets out Le Trosne's support for a council of advisors to the king.

107 Weulerrse, Manuscrits, 32.

108 Kaplan, 1: 116.

109 See, for example, Kuczynski and Meek, 8; Quesnay, "Hommes," 550; idem, "The Analysis," 153; idem, "General Maxims," 237.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

110 Kaplan, 1: 90-96.

111 Ibid., 2: 489, 498-515.

112 As quoted in ibid., 2: 476-81.

113 Ibid., 2: 594-601.

114 As quoted in ibid., 2: 609.

115 Ibid., 2: 610.

116 Indeed, Schumpeter believed that Turgot's capital theory was "distinctly superior" to that of Adam Smith ( History, 248). See also Henry William Spiegel, The Growth of Economic Thought (Durham, N.C.: Duke University Press, 1971), 155.

117 Douglas Dakin, Turgot and the Ancien Rigime in France (1939; reprint, New York: Octagon Books, 1965), 2.

118 Schumpeter, History, 243-44.

119 Turgot, "Plan for a Paper on Taxation," in The Economics of A. R. J. Turgot, ed. and trans. P. D. Groenewegen (The Hague: Nijhoff, 1977), 102-3.

120 Turgot, "Observations on a Paper by Saint-Peravy," ibid., 116.

121 Turgot, "Observations on a Paper by Graslin," ibid., 127; idem, "Observations on a Paper by Saint-Peravy," 110-11; idem, "Letters on the Grain Trade," ibid., 168.

122 Turgot, "In Praise of Gournay," ibid., 29.

119 Turgot, "Plan for a Paper on Taxation," in The Economics of A. R. J. Turgot, ed. and trans. P. D. Groenewegen (The Hague: Nijhoff, 1977), 102-3.

120 Turgot, "Observations on a Paper by Saint-Peravy," ibid., 116.

121 Turgot, "Observations on a Paper by Graslin," ibid., 127; idem, "Observations on a Paper by Saint-Peravy," 110-11; idem, "Letters on the Grain Trade," ibid., 168.

122 Turgot, "In Praise of Gournay," ibid., 29.

119 Turgot, "Plan for a Paper on Taxation," in The Economics of A. R. J. Turgot, ed. and trans. P. D. Groenewegen (The Hague: Nijhoff, 1977), 102-3.

120 Turgot, "Observations on a Paper by Saint-Peravy," ibid., 116.

121 Turgot, "Observations on a Paper by Graslin," ibid., 127; idem, "Observations on a Paper by Saint-Peravy," 110-11; idem, "Letters on the Grain Trade," ibid., 168.

122 Turgot, "In Praise of Gournay," ibid., 29.

119 Turgot, "Plan for a Paper on Taxation," in The Economics of A. R. J. Turgot, ed. and trans. P. D. Groenewegen (The Hague: Nijhoff, 1977), 102-3.

120 Turgot, "Observations on a Paper by Saint-Peravy," ibid., 116.

121 Turgot, "Observations on a Paper by Graslin," ibid., 127; idem, "Observations on a Paper by Saint-Peravy," 110-11; idem, "Letters on the Grain Trade," ibid., 168.

122 Turgot, "In Praise of Gournay," ibid., 29.

123 Abbé Baudeau, Première Introduction à la philosophie économique (Paris, 1910) as quoted by Meek, EP, 309.

124 Turgot, "Plan for a Paper on Taxation," 103.

125 Mercier de la Rivière, L'ordre naturel, as quoted by J. J. Spengler, "The Physiocrats and Say's Law of Markets," pt. 2, Journal of Political Economy 53 (1945): 317.

126 As quoted by Warren J. Samuels, "The Physiocratic Theory of Property and the State," 103.

127 Turgot, "Observations on a Paper by Saint-Peravy," 115-16.

128 Turgot, "Reflections on the Formation and Distribution of Wealth," in Turgot on Progress, Sociology, and Economics, ed. Ronald Meek (Cambridge: Cambridge University Press, 1974), 147, 150; emphasis in original.

129 Ibid., 152, 153, 169.

130 Ibid., 181.

131 Ibid., 146.

132 Ibid., 172.

128 Turgot, "Reflections on the Formation and Distribution of Wealth," in Turgot on Progress, Sociology, and Economics, ed. Ronald Meek (Cambridge: Cambridge University Press, 1974), 147, 150; emphasis in original.

129 Ibid., 152, 153, 169.

130 Ibid., 181.

131 Ibid., 146.

132 Ibid., 172.

128 Turgot, "Reflections on the Formation and Distribution of Wealth," in Turgot on Progress, Sociology, and Economics, ed. Ronald Meek (Cambridge: Cambridge University Press, 1974), 147, 150; emphasis in original.

129 Ibid., 152, 153, 169.

130 Ibid., 181.

131 Ibid., 146.

132 Ibid., 172.

128 Turgot, "Reflections on the Formation and Distribution of Wealth," in Turgot on Progress, Sociology, and Economics, ed. Ronald Meek (Cambridge: Cambridge University Press, 1974), 147, 150; emphasis in original.

129 Ibid., 152, 153, 169.

130 Ibid., 181.

131 Ibid., 146.

132 Ibid., 172.

128 Turgot, "Reflections on the Formation and Distribution of Wealth," in Turgot on Progress, Sociology, and Economics, ed. Ronald Meek (Cambridge: Cambridge University Press, 1974), 147, 150; emphasis in original.

129 Ibid., 152, 153, 169.

130 Ibid., 181.

131 Ibid., 146.

132 Ibid., 172.

133 See James McLain, The Economic Writings of Dupont de Nemours (Newark: University of Delaware Press, 1977), 176-77.

134 Turgot, "Observations on a Paper by Graslin," 127, emphasis in original.

135 Turgot, "Letters on the Grain Trade," 178.

136 Turgot, "Observations on a Paper by Graslin," 132.

137 As quoted by W. Walker Stephens, ed., The Life and Writings of Turgot (New York: Longmans, Green and Co., 1895), 45.

138 Meek, EP, 312.

139 Marx, Capital, 2: 436.

140 The passage from Turgot is quoted by Marx, Theories of Surplus Value, 1: 56.

141 Quoted by Weulerrse, Le Mouvement physiocratique, 1: 147.

142 Marx, Theories of Surplus Value, 1: 66.

143 Ware, "The Physiocrats," 618.

144 Meek, EP, 393-94; Ware, "The Physiocrats," 608.

145 Isaac Ilyich Rubin, A History of Economic Thought, trans. Donald Filtzer (London: Ink Links, 1979), 106.

146 Ibid., 140.

145 Isaac Ilyich Rubin, A History of Economic Thought, trans. Donald Filtzer (London: Ink Links, 1979), 106.

146 Ibid., 140.

147 Fox-Genovese, Origins of Physiocracy, 61.

148 Ibid., 31, 56-57.

147 Fox-Genovese, Origins of Physiocracy, 61.

148 Ibid., 31, 56-57.

149 On the aristocratic revolt see Albert Soboul, The French Revolution,

trans. Alan Forrest (London: New Left Books, 1974), vol. 1, chap. 3; Georges Lefebvre, The French Revolution from Its Origins to 1793, trans. Elizabeth Moss Evanson (New York: Columbia University Press, 1962), vol. 1, chap. 6.

150 Schumpeter, History, 229 n 2.

151 Herbert Luthy, From Calvin to Rousseau, trans. Salvator Attanasio (New York: Basic Books, 1970), 139.

152 Theda Skocpol, States and Social Revolutions (Cambridge: Cambridge University Press, 1979), 21.

153 Kuczynski and Meek, 6 n a.

154 Tom Kemp, Historical Patterns of Industrialization (London: Longman Group, 1978), 17.

155 John Bosher, French Finance, 1770-1795: From Business to Bureaucracy (Cambridge: Cambridge University Press, 1970), 126.

156 Quesnay, "The First Economic Problem," 180 n 3; Mirabeau, Philosophie rurale, 61.

157 Quesnay, "General Maxims," 239.

158 Luthy, 148-49.

159 Turgot, "Plan for a Paper on Taxation," 107.

1 Henry William Spiegel, The Growth of Economic Thought (Durham, N.C.: Duke University Press, 1971), 234.

2 Joseph Cropsey, "Adam Smith and Political Philosophy," in Essays on Adam Smith, ed. Andrew Skinner and Thomas Wilson (Oxford: Oxford University Press, 1975), 132.

3 Isaac Ilyich Rubin, A History of Economic Thought, trans. Donald Filtzer (London: Ink Links, 1979), 166.

4 Eric Roll, A History of Economic Thought, 4th ed. (London: Faber and Faber, 1973), 150.

5 Max Lerner, Introduction to The Wealth of Nation, by Adam Smith, ed. Edwin Cannan (New York: Modern Library, 1937), ix. All further references to The Wealth of Nations will be to the Glasgow edition of 1976 published by Oxford University Press.

6 C. B. Macpherson, Review of Adam Smith's Politics: An Essay in Historiographic Revision, by Donald Winch, History of Political Economy 11 (1979): 454. See also Hiroshi Mizuta, "Moral Philosophy and Civil Society," in Essays on Adam Smith, 114.

7 Nathan Rosenburg, "Adam Smith and Laissez-Faire Revisited," in Adam Smith and Modern Political Economy: Bicentennial Essays on The Wealth of Nations, ed. Gerald P. O'Driscoll (Ames: Iowa State Press, 1979), 21.

8 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S.

Skinner (Oxford: Oxford University Press, 1976), 1: 265-67, 144 (hereafter cited as WN ).

9 Ibid., 1: 144, 258, 2: 675.

8 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S.

Skinner (Oxford: Oxford University Press, 1976), 1: 265-67, 144 (hereafter cited as WN ).

9 Ibid., 1: 144, 258, 2: 675.

10 Adam Smith, "Lectures on Jurisprudence, Report dated 1766," in Lectures on Jurisprudence, by Adam Smith, ed. R. L. Meek, D. D. Raphael, and A. S. Skinner (Oxford: Oxford University Press, 1978), 522. This work contains two sets of reports on Smith's lectures, one from the 1762-1763 session, another dated 1766 (believed to be based on the lectures of 1763-1764). I shall follow academic convention in referring to these reports as LJ(A) and LJ(B) respectively (hereafter cited in this form).

11 Ibid., 541.

10 Adam Smith, "Lectures on Jurisprudence, Report dated 1766," in Lectures on Jurisprudence, by Adam Smith, ed. R. L. Meek, D. D. Raphael, and A. S. Skinner (Oxford: Oxford University Press, 1978), 522. This work contains two sets of reports on Smith's lectures, one from the 1762-1763 session, another dated 1766 (believed to be based on the lectures of 1763-1764). I shall follow academic convention in referring to these reports as LJ(A) and LJ(B) respectively (hereafter cited in this form).

11 Ibid., 541.

12 R. H. Campbell, "An Economic History of Scotland in the Eighteenth Century," Scottish Journal of Political Economy 11 (1964): 20. On Scotland's economic takeoff in the 1760s see Henry Hamilton, An Economic History of Scotland in the Eighteenth Century (Oxford: Oxford University Press, 1963), 70; Bruce Lenman, An Economic History of Modern Scotland (London: B. T. Batsford, 1977), 71; and T. C. Smout, A History of the Scottish People, 1560-1830 (Glasgow: William Collins Sons and Co., 1969), 226.

13 Smout, 227.

14 Adam Smith, WN, 1: 237-40; Hamilton, 56-57; Smout, 272-274; Tony Dickson, ed., Scottish Capitalism: Class, State, and Nation from before the Union to the Present (London: Lawrence and Wishart, 1980), 90.

15 Smout, 277; see also idem, "Scottish Landowners and Economic Growth, 1650-1850," Scottish Journal of Political Economy 11 (1964): 229.

16 Dickson et al., 107.

17 R. H. Campbell, "The Scottish Improvers and the Course of Agrarian Change in the Eighteenth Century," in Comparative Aspects of Scottish and Irish Economic and Social History, 1600-1900, ed. L. M. Cullen and T. C. Smout (Edinburgh: John Donald, 1977), 206.

18 Smout, History, 289; Hamilton, 86. See also T. M. Devine, The Tobacco Lords (Edinburgh: John Donald, 1975), 24.

19 Hamilton, 74; Lenman, 91-92; Devine, 22-25.

20 Smout, "Scottish Landowners," 228-30. See also Dickson, 95-98; and Smout, History, 275.

21 Campbell, "Economic History," 18; Smout, "Scottish Landowners," 220, 231; idem, History, 275. For the argument that the tobacco trade was not central to industrial growth see Devine, 48. See also R. H. Campbell, "The Industrial Revolution: A Revision Article," Scottish Historical Review 46 (1967): 45.

22 Nicholas Phillipson, "Scottish Public Opinion and the Union in the Age of Association," in Scotland in the Age of Improvement, ed. Nicholas Phillipson and Rosalind Mitchison (Edinburgh: Edinburgh University Press, 1970), 141.

23 Hamilton, 75; Lenman, 97.

24 George Davie, The Scottish Enlightenment (London: The Historical Association, 1981), 1, 7-8, 13. On Fletcher see Andrew Fletcher of Saltoun: Selected Writings, ed. David Daiches (Edinburgh: Scottish Academic Press, 1979); Nicholas Phillipson, "The Scottish Enlightenment," in The Enlightenment in National Context, ed. Ray Porter and Mikulas Teich (Cambridge: Cambridge University Press, 1981), 22-25; and John Robertson, "The Scottish Enlightenment at the Limits of the Civic Tradition," in Wealth and Virtue: The Shaping of Political Economy in the Scottish Enlightenment, ed. Istvan Hont and Michael Ignatieff (Cambridge: Cambridge University Press, 1983), 141-51. The Scottish debate over economic development is usefully surveyed by Istvan Hont, "The 'Rich Country-Poor Country' Debate in Scottish Classical Political Economy," in Wealth and Virtue, 271-315.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

25 David Hume, "Of the Balance of Trade," in Writings on Economics, by David Hume, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 62-63.

26 David Hume, "Of Money," ibid., 45.

27 Ibid., 37.

28 Ibid., 43.

29 Ibid., 44.

30 Oswald to Hume, October 1749, ibid., 190-96.

31 Josiah Tucker, "Four Tracts on Political and Commercial Subjects," in Precursors of Adam Smith, 1750-1775, ed. Ronald Meek (London: J. M. Dent and Sons, 1973), 193, 189.

32 Ibid., 177.

31 Josiah Tucker, "Four Tracts on Political and Commercial Subjects," in Precursors of Adam Smith, 1750-1775, ed. Ronald Meek (London: J. M. Dent and Sons, 1973), 193, 189.

32 Ibid., 177.

33 David Hume, "Of the jealousy of Trade," in Writings on Economics, 81.

34 Hume to Kames, 4 March 1758, ibid., 201.

35 Hume, "Of the jealousy of Trade," ibid., 79.

33 David Hume, "Of the jealousy of Trade," in Writings on Economics, 81.

34 Hume to Kames, 4 March 1758, ibid., 201.

35 Hume, "Of the jealousy of Trade," ibid., 79.

33 David Hume, "Of the jealousy of Trade," in Writings on Economics, 81.

34 Hume to Kames, 4 March 1758, ibid., 201.

35 Hume, "Of the jealousy of Trade," ibid., 79.

36 George Davie, "Berkeley, Hume, and the Central Problem of Scottish Philosophy," in McGill Hume Studies, ed. David Fate Norton, Nicholas Capaldi, and Wade L. Robinson (San Diego: Austin Hill Press, 1976), 44.

37 Bernard Mandeville, The Fable of the Bees, ed. F. B. Kaye (Oxford: Oxford University Press, 1924), 1: 369. For a useful introduction to Mandeville's thought see Thomas Horne, The Social Thought of Bernard Mandeville: Virtue and Commerce in Early Eighteenth-Century England (London: Macmillan and Co., 1978).

38 Gladys Bryson, Man and Society: The Scottish Inquiry of the Eighteenth Century (Princeton: Princeton University Press, 1945), 8.

39 From Shaftesbury's Moralists, as quoted by W. R. Scott, Francis Hutcheson (Cambridge: Cambridge University Press, 1900), 158-59; see also 165-74.

40 Francis Hutcheson, Reflections upon Laughter and Remarks upon the Fable of the Bees (Glasgow: R. and A. Fowles, 1750), 55-56, as quoted by W. L. Taylor, Francis Hutcheson and David Hume as Predecessors of Adam Smith (Durham, N.C.: Duke University Press, 1965), 104.

41 For an insightful summary of Hutcheson's views on these issues see Thomas Horne, "Moral and Economic Improvement: Francis Hutcheson on Property," History of Political Thought 7 (1986): 115-30.

42 As quoted by Bryson, 215.

43 As quoted by Gary Wills, "Benevolent Adam Smith," New York Review of Books, 9 February 1978, 42.

44 Francis Hutcheson, An Inquiry Concerning Beauty, Order, Harmony, Design, ed. Peter Kivy (The Hague: Nijhoff, 1973), 71.

45 Hume to Hutcheson, 17 September 1739, as quoted by Scott, 117.

46 Hume, "Of Refinement in the Arts," in Writings on Economics, 27, 22, 24.

47 David Hume, A Treatise of Human Nature, ed. L. A. Selby-Bigge (Oxford: Oxford University Press, 1888), 529.

48 Ibid., 499, 552. See also David Fate Norton, "Hume's Common Sense Morality," Canadian Journal of Philosophy 5 (1975): 523-43.

47 David Hume, A Treatise of Human Nature, ed. L. A. Selby-Bigge (Oxford: Oxford University Press, 1888), 529.

48 Ibid., 499, 552. See also David Fate Norton, "Hume's Common Sense Morality," Canadian Journal of Philosophy 5 (1975): 523-43.

49 Hume, Treatise, 499-500; emphasis in original.

50 David Hume, "An Enquiry Concerning the Principles of Morals," in Hume's Ethical Writings, ed. Alasdair MacIntyre (London: Macmillan and Co., 1965), 66.

51 Robertson, 156.

52 David Hume, "Of Public Credit," in Essays: Moral, Political, and Literary, by David Hume, ed. Eugene F. Miller (Indianapolis: Liberty Classics, 1985), 357-58.

53 David Hume, "Of Parties in General" and "Of the Populousness of Ancient Nations," ibid., 60, 419-20.

52 David Hume, "Of Public Credit," in Essays: Moral, Political, and Literary, by David Hume, ed. Eugene F. Miller (Indianapolis: Liberty Classics, 1985), 357-58.

53 David Hume, "Of Parties in General" and "Of the Populousness of Ancient Nations," ibid., 60, 419-20.

54 See Robertson, 151-75; and Phillipson, "Scottish Enlightenment," 31.

55 Robertson, 159. My position is thus critical of the view of Istvan Hont and Michael Ignatieff, "Needs and Justice in The Wealth of Nations: An Introductory Essay" in Wealth and Virtue; they see Hume and Smith as rejecting the civic tradition in favour of that of natural jurisprudence. In my view, such an approach to intellectual history is excessively mechanical since it constitutes theoretical perspectives as discursive traditions whose internal logic and coherence exclude interaction with other distinct traditions of thought. It is my view that Hume and Smith addressed social issues—morality, justice, and economic development—within a framework constituted by varying analytic perspectives or discourses. In all the Scottish theorists we find unique combinations of such discursive approaches. The task for modern commentators is not to reduce Hume or Smith to one or another specific tradition but rather to explore the manner in which they drew upon different traditions, to address problems posed by the transformation of European society.

56 J. G. A. Pocock, The Machiavellian Moment: Florentine Political Thought and the Atlantic Republican Tradition (Princeton: Princeton University Press, 1975), 499. In my interpretation of Ferguson I have benefited from David Kettler, "History and Theory in Ferguson's Essay an the History of Civil Society: A Reconsideration," Political Theory 5 (1977): 437-60.

57 Adam Ferguson, An Essay on the History of Civil Society, ed. Duncan Forbes (Edinburgh: Edinburgh University Press, 1966), 180, 144, 105, 180.

58 Ibid., 19.

59 Ibid., 40.

60 Ibid., 56.

61 Ibid., 158. See also Kettler, 22, 24.

57 Adam Ferguson, An Essay on the History of Civil Society, ed. Duncan Forbes (Edinburgh: Edinburgh University Press, 1966), 180, 144, 105, 180.

58 Ibid., 19.

59 Ibid., 40.

60 Ibid., 56.

61 Ibid., 158. See also Kettler, 22, 24.

57 Adam Ferguson, An Essay on the History of Civil Society, ed. Duncan Forbes (Edinburgh: Edinburgh University Press, 1966), 180, 144, 105, 180.

58 Ibid., 19.

59 Ibid., 40.

60 Ibid., 56.

61 Ibid., 158. See also Kettler, 22, 24.

57 Adam Ferguson, An Essay on the History of Civil Society, ed. Duncan Forbes (Edinburgh: Edinburgh University Press, 1966), 180, 144, 105, 180.

58 Ibid., 19.

59 Ibid., 40.

60 Ibid., 56.

61 Ibid., 158. See also Kettler, 22, 24.

57 Adam Ferguson, An Essay on the History of Civil Society, ed. Duncan Forbes (Edinburgh: Edinburgh University Press, 1966), 180, 144, 105, 180.

58 Ibid., 19.

59 Ibid., 40.

60 Ibid., 56.

61 Ibid., 158. See also Kettler, 22, 24.

62 On the Commonwealth campaign for a citizens' militia see Pocok, 500.

63 John Rae, Life of Adam Smith, introduction by Jacob Viner (1895; reprint, New York: Augustus M. Kelley, 1965), 4; and Alexander Gray, Adam Smith (1948; reprint, London: Historical Association, 1968), 7.

64 Gray, 4.

65 W. R. Scott, Adam Smith as Student and Professor (1873; reprint, New York: Augustus M. Kelley, 1965), 27.

66 For a helpful discussion of the Select Society see Phillipson, "Scottish Enlightenment," 32-35; and idem, "Culture and Society in the Eighteenth-Century Province: The Case of Edinburgh and the Scottish Enlightenment," in The University in Society, ed. Lawrence Stone (Princeton: Princeton University Press, 1974), 444-46.

67 Rae, 107-15.

68 Davie, Scottish Enlightenment, 17.

69 Rae, 3 1.

70 Ibid., 245.

69 Rae, 3 1.

70 Ibid., 245.

71 On the Political Economy Club see Scott, Adam Smith, 86-87.

72 Rae, 11.

73 Smith, WN, 2: 790.

74 J. Ralph Lindgren, ed., The Early Writings of Adam Smith (New York: Augustus M. Kelley, 1967).

75 My appreciation of this point is due especially to J. Ralph Lindgren, The Social Philosophy of Adam Smith (The Hague: Nijhoff, 1973), chap. 4.

76 Adam Smith, "Of the External Senses," in Early Writings, 210-11.

77 Adam Smith, "Logics," as quoted by Lindgren, Social Philosophy, 13.

78 Adam Smith, "Language," in Early Writings, 229 (this essay was appended to the third edition of Smith's Theory of the Moral Sentiments published in 1761).

79 Ibid., 241.

78 Adam Smith, "Language," in Early Writings, 229 (this essay was appended to the third edition of Smith's Theory of the Moral Sentiments published in 1761).

79 Ibid., 241.

80 Lindgren, Social Philosophy, 12.

81 Adam Smith, "The Principles Which Lead and Direct Philosophical Enquiries: Illustrated by the History of Astronomy," in Early Writings, 45.

82 Smith, "Language," ibid., 248.

83 Ibid., 249, 251.

81 Adam Smith, "The Principles Which Lead and Direct Philosophical Enquiries: Illustrated by the History of Astronomy," in Early Writings, 45.

82 Smith, "Language," ibid., 248.

83 Ibid., 249, 251.

81 Adam Smith, "The Principles Which Lead and Direct Philosophical Enquiries: Illustrated by the History of Astronomy," in Early Writings, 45.

82 Smith, "Language," ibid., 248.

83 Ibid., 249, 251.

84 Adam Smith, The Theory of the Moral Sentiments (Indianapolis: Liberty Press, 1969), 167 (hereafter cited as TMS ).

85 Adam Smith, Lectures on Rhetoric and Belles Lettres, ed. John M.

Lothian (Carbondale: Southern Illinois University Press, 1971), 22-23; emphasis in original.

86 Smith, TMS, 531.

87 Ibid., 501.

88 Ibid., 47.

86 Smith, TMS, 531.

87 Ibid., 501.

88 Ibid., 47.

86 Smith, TMS, 531.

87 Ibid., 501.

88 Ibid., 47.

89 T. D. Campbell, "Scientific Explanation and Ethical Justification in the Moral Sentiments, " in Essays on Adam Smith, 71.

90 Smith, TMS, 162.

91 Ibid., 265-66.

90 Smith, TMS, 162.

91 Ibid., 265-66.

92 This is the phrase employed with respect to Hume by David Fate Norton, "Hume's Common Sense Morality." This does not imply, however, that absolute values are foreign to Smith's system. On this point see Knud Haakonssen, The Science of a Legislator: The Natural Jurisprudence of David Hume and Adam Smith (Cambridge: Cambridge University Press, 1981).

93 Smith, Rhetoric and Belles Lettres, 51.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

94 Smith, TMS, 126.

95 Ibid., 301, 127, 129.

96 Ibid., 302.

97 Ibid., 303.

98 Ibid., 304.

99 Ibid.

100 Ibid., 246, 128, 351-52, 286, 128.

101 Ibid., 166.

102 Ibid., 310.

103 Ibid., 305.

104 Ibid., 307.

105 Ibid., 380-81.

106 Smith, WN, 2: 781-82. See also the excellent discussion of this point by Louis Schneider, "Human Nature and Social Circumstance," in Adam Smith and Modern Political Economy, 62-63.

107 Lindgren, Social Philosophy, 74.

108 Smith, TMS, 63-65.

109 D. D. Raphael, "The Impartial Spectator," in Essays on Adam Smith, 92.

110 Smith, TMS, 127. Smith added this distinction between inferior and superior prudence to TMS in 1790. On this point see Ralph Anspach, "The Implications of The Theory of the Moral Sentiments for Adam Smith's Economic Thought," History of Political Economy 4 (1972): 176-206.

111 Smith, TMS, 127.

112 Ibid., 380.

113 Ibid., 167.

111 Smith, TMS, 127.

112 Ibid., 380.

113 Ibid., 167.

111 Smith, TMS, 127.

112 Ibid., 380.

113 Ibid., 167.

114 Smith, WN, 2: 77 1.

115 Smith, TMS, 357, 537.

116 See S. T. Bindhoff, Tudor England (Harmondsworth: Penguin, 1950), 129; G. R. Elton, England Under the Tudors, 2d ed. (London: Methuen

and Co., 1974), 185; and Zera S. Fink, The Classical Republicans, 2d ed. (Evanston: Northwestern University Press, 1962), chap. 2.

117 For a good discussion of this point see Quentin Skinner, The Foundations of Modern Political Thought (Cambridge: Cambridge University Press, 1978) vol. 1, The Renaissance, chap. 8.

118 See chap. 2 above, pp. 43-44.

119 This was the judgement of H. F. Russell Smith, Harrington and His Oceana (Cambridge: Cambridge University Press, 1914), 131.

120 John Locke, Several Papers Relating to Money, Interest, and Trade (1696; reprint, New York: Augustus M. Kelley, 1968) esp. 42, 100, 112. For a discussion of Shaftesbury as a ''neo-Harringtonian" see Pocock, Introduction to The Political Works of James Harrington (Cambridge: Cambridge University Press, 1977), 129-33; and idem, Politics, Language, and Time: Essays on Political Thought and History (New York: Atheneum, 1971), chap. 4.

121 See K. H. D. Haley, The First Earl of Shaftesbury (Oxford: Clarendon Press, 1968), 350-51; Perez Zagorin, The Court and the Country: The Beginning of the English Revolution of the Seventeenth Century (New York: Atheneum, 1970), chap. 4; and J. B. Owen, "The Survival of Country Attitudes in the Eighteenth-Century House of Commons," in Britain and the Netherlands, ed. J. S. Bromley and E. H. Kossman (The Hague: Nijhoff, 1971), 43-44.

122 For Shaftesbury's modification of Harrington see Pocock, Politics, Language, and Time, chap. 4. For some important qualifications to Pocock's general interpretation see J. C. Davis, "Pocock's Harrington: Grace, Nature, and Art in the Classical Republicanism of James Harrington," Historical Journal 24 (1984): 683-97; Kathleen Toth, "Interpretation in Political Theory: The Case of Harrington," Review of Politics 37 (1975): 317-39; and Jesse Goodale, "J. G. A. Pocock's Neo-Harringtonians: A Reconsideration," History of Political Thought 1 (1980): 237-59; but see also Pocock's "A Reconsideration Impartially Considered," History of Political Thought 1 (1980): 541-45. On Sidney see Blair Warden, "The Commonwealth Kidney of Algernon Sidney," Journal of British Studies 24 (1985): 1-40.

123 On the Tory revival see J. P. Kenyon, Revolution Principles: The Politics of Party, 1689-1720 (Cambridge: Cambridge University Press, 1977), chaps. 5 and 6; and J. A. W. Gunn, Beyond Liberty and Property: The Process of Self-Recognition in Eighteenth-Century Political Thought (Kingston: McGill-Queen's University Press, 1983), chap. 4.

124 H. T. Dickinson, Liberty and Property: Political Ideology in Eighteenth-Century Britain (London: Methuen and Co., 1977), 102-18.

125 On Shaftesbury and his followers see Caroline Robbins, The Eighteenth-Century Commonwealthmen (Cambridge, Mass.: Harvard University Press, 1959), chap. 4.

126 Pocock, Machiavellian Moment, 395, 414, 432. See also Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), chap. 2. As will become clearer, on

a number of major points I depart from Winch in interpretation of Smith's relationship to the English commonwealth tradition.

127 James Moore, "Locke and the Scottish jurists," paper presented on John Locke and the political thought of the 1680s, Conference for the Study of Political Thought, Folger Shakespeare Library, Washington, D.C., 21-23 March 1980, 30.

128 On Hutcheson's political views see Robbins, 174-95; on his economic views see Taylor, passim.

129 Francis Hutcheson, A System of Moral Philosophy (London, 1755), 2:113-14.

130 Horne, "Moral and Economic Improvement," 118-20.

131 Rae, 11.

132 See Hume, "Of the First Principles of Government," "Of the Origin of Government," "Of the Independency of Parliament," "Whether the British Government inclines more to Absolute Monarchy, or to a Republic," "Of the Parties of Great Britain,'' "Of the Original Contract," "Of Passive Obedience Of the Coalition of Parties," in Essays: Moral, Political, and Literary . For an important attempt to understand Hume as a sceptical Whig, although it underestimates the persistence of civic humanist concerns in his thought, see Duncan Forbes, Hume's Philosophical Politics (Cambridge: Cambridge University Press, 1975).

133 Smith, LJ(A), 207.

134 LJ(B), 401.

135 LJ(A), 208; see also LJ(A), 404.

136 LJ(B), 401; LJ(A), 338.

137 LJ(A), 264-74, 311; LJ(B), 421-22.

138 LJ(B), 433; see also LJ(A), 325-27.

139 WN, 1: 426.

140 Ibid., 2: 848.

141 Ibid., 1: 461.

142 Ibid., 2: 706.

143 Ibid., 2: 622.

139 WN, 1: 426.

140 Ibid., 2: 848.

141 Ibid., 1: 461.

142 Ibid., 2: 706.

143 Ibid., 2: 622.

139 WN, 1: 426.

140 Ibid., 2: 848.

141 Ibid., 1: 461.

142 Ibid., 2: 706.

143 Ibid., 2: 622.

139 WN, 1: 426.

140 Ibid., 2: 848.

141 Ibid., 1: 461.

142 Ibid., 2: 706.

143 Ibid., 2: 622.

139 WN, 1: 426.

140 Ibid., 2: 848.

141 Ibid., 1: 461.

142 Ibid., 2: 706.

143 Ibid., 2: 622.

144 LJ(A), 70.

145 Nicholas Phillipson, "Adam Smith as Civic Moralist," in Wealth and Virtue, 197.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

146 Smith, WN, 1: 412.

147 Ibid., 1: 405.

148 Ibid., 1: 411-12.

149 Ibid., 1: 418-19, 420-21.

150 Ibid., 1: 422.

151 Ibid., 1: 343.

152 Ibid., 1: 541.

153 Ibid., 1: 111-12.

154 Ibid., 1: 345.

155 See Duncan Forbes, "Sceptical Whiggism, Commerce, and History," in Essays on Adam Smith, 184-86, 193.

156 Smith, WN, 2: 905.

157 Ibid., 1: 96.

156 Smith, WN, 2: 905.

157 Ibid., 1: 96.

158 In this respect I agree with much of the argument made by Istvan Hont and Michael Ignatieff, "Needs and Justice in The Wealth of Nations: An Introductory Essay," in Wealth and Virtue, 2-8, bearing in mind, however, the criticisms I raised in note 55 to this chapter.

159 Smith, WN, 1: 468, 428.

1 The most important attempt to establish the general philosophical principles which inform all of Smith's works, including The Wealth of Nations, is that of J. Ralph Lindgren, The Social Philosophy of Adam Smith (The Hague: Nijhoff, 1973).

2 Joseph Schumpeter, History of Economic Analysis (New York: Oxford University Press, 1954), 187. Schumpeter's statement is largely accurate with respect to Book 1 of The Wealth of Nations but, as we shall see, does not apply to the theory of accumulation developed in Book 2.

3 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S. Skinner (Oxford: Oxford University Press, 1976), 1: 25-26 (hereafter cited as WN ).

4 Ibid., 1: 37. See also idem, The Theory of the Moral Sentiments (Indianapolis: Liberty Classics, 1969), 166.

3 Adam Smith, The Wealth of Nations, ed. R. H. Campbell and A. S. Skinner (Oxford: Oxford University Press, 1976), 1: 25-26 (hereafter cited as WN ).

4 Ibid., 1: 37. See also idem, The Theory of the Moral Sentiments (Indianapolis: Liberty Classics, 1969), 166.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

5 Smith, WN, 1: 26-27.

6 Ibid., 2: 781.

7 Ibid., 2: 712, 612, 709, 608, 1: 295.

8 Ibid., 1: 341-2; my emphasis.

9 Ibid., 1: 343.

10 Ibid., 1: 467, 2: 555, 628.

11 Ibid., 2: 612.

12 Ibid., 2: 649; my emphasis.

13 Ibid., 2: 660, 1: 283.

14 Samuel Hollander, The Economics of Adam Smith (Toronto: University of Toronto Press, 1973), 146.

15 Smith, WN, 1: 96, 2: 748. For Smith's use of "sober and industrious poor" see ibid., 2: 872, 887.

14 Samuel Hollander, The Economics of Adam Smith (Toronto: University of Toronto Press, 1973), 146.

15 Smith, WN, 1: 96, 2: 748. For Smith's use of "sober and industrious poor" see ibid., 2: 872, 887.

16 This is the phrase used by Marian Bowley, Studies in the History of Economic Theory Before 1870 (London: Macmillan and Co., 1973), 113.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

17 Smith, WN, 1: 147, 50, 51.

18 Ibid., 1: 48.

19 Ibid., 1: 69.

20 Ibid., 1: 72.

21 Hollander, 121-24.

22 Smith, WN, 2: 864.

23 Ibid., 2: 869-70; my emphasis.

22 Smith, WN, 2: 864.

23 Ibid., 2: 869-70; my emphasis.

24 J. M. A. Gee, "The Origin of Rent in Adam Smith's Wealth of Nations: An Anti-Neoclassical View," History of Political Economy 13 (1981): 1-18.

25 Smith, WN, Book 1, chap. 3. See also Nathan Rosenburg, "Some Institutional Aspects of the Wealth of Nations, " Journal of Political Economy 68 (1960): 557-70.

26 Smith, WN, 1: 105.

27 Ibid., 1: 113.

26 Smith, WN, 1: 105.

27 Ibid., 1: 113.

28 Adam Smith, Lectures on Jurisprudence, ed. R. L. Meek, D. D. Raphael, and P. G. Stein (Oxford: Oxford University Press, 1978), Report dated 1766, 497. Smith's Lectures consist of two "Reports," one from the session of 1762-1763, the other dated 1766 (hereafter cited as LJ(A) and LJ(B)) .

29 Smith, WN, 1: 78-79.

30 Ibid., 1: 114, 115.

29 Smith, WN, 1: 78-79.

30 Ibid., 1: 114, 115.

31 Hugh Blair to Adam Smith, 3 April 1776, and Adam Ferguson to Adam Smith, 18 April 1776, in Ernest Campbell Mossner and Ian Simpson Ross, eds., The Correspondence of Adam Smith (Oxford: Oxford University Press, 1977), 188, 193.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

32 Smith, WN, 1: 267.

33 Ibid., 1: 493, 494.

34 Ibid., 1: 144.

35 Ibid., 1: 267, 2: 555, 1: 471, 493, 2: 613.

36 Ibid., 2: 660. On this aspect of natural liberty see ibid., 1: 470 and 2: 687.

37 Ibid., 1: 360-75.

38 Ibid., 2: 607.

39 Ibid., 2: 611.

40 Ibid., 2: 627.

41 Ibid., 2: 848-89.

42 Ibid., 1: 493.

43 Ibid., 1: 267.

44 Ibid., 2: 641.

45 Ibid., 2: 687.

46 Ibid., 1: 78-79.

47 Bowley, 127-29.

48 Smith, WN, 1: 146.

49 Ibid., 2: 612.

48 Smith, WN, 1: 146.

49 Ibid., 2: 612.

50 Nathan Rosenburg, "Adam Smith on Profits—Paradox Lost and Regained," in Essays on Adam Smith, ed. Andrew Skinner and Thomas Wilson (Oxford: Oxford University Press, 1975), 386.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

51 Smith, WN, 1: 378.

52 Ibid., 1: 144.

53 Ibid., 1: 143, 144. For Smith's comments on the limits of the division of labour in agriculture see ibid., 1: 16.

54 Ibid., 2: 781-82.

55 Ibid., 2: 783.

56 Ibid., 2: 795.

57 Ibid., 1: 461-62.

58 Ibid., 1: 265.

59 Ibid., 1: 377, 180-82.

60 Ibid., 1: 363.

61 Ibid., 1: 364, 377, 2: 848, 1: 380.

62 Ibid., 1: 411-12.

63 Ibid., 1: 426.

64 Ibid., 2: 927.

65 Ibid., 1: 391-92, 2: 865, 1: 392.

66 Ibid., 2: 832. John Robertson has seriously misunderstood this discussion in WN of landlords in his article "Scottish Political Economy Beyond the Civic Tradition: Government and Economic Development in The Wealth of Nations, " History of Political Thought 4 (1983): 462 n . Smith is not writing off large landlords here or denying their potential as improvers; rather, he is favouring the new arrangement between landlords and capitalist tenant farmers over the older one based on the employment of bailiffs.

67 David Hume, Writings on Economics, ed. Eugene Rotwein (Madison: University of Wisconsin Press, 1970), 217.

68 Schumpeter, 184.

69 Edwin Cannan, Editor's Introduction to The Wealth of Nations, by Adam Smith (New York: Modern Library, 1937), xxxix.

70 Hollander, 316.

71 Smith, LJ(A), 353.

72 John Rae, Life of Adam Smith (1895; reprint, New York: Augustus M. Kelley, 1965), 197-205.

73 Dugald Stewart, "Account of the Life and Writings of Adam Smith, LL.D.," in Essays on Philosophical Subjects, by Adam Smith, ed. W. L. D. Wightman (Oxford: Oxford University Press, 1980), 304.

74 Rae, 216; Rae quotes Dupont on 215.

75 P. D. Groenewegen, "Turgot and Adam Smith," Scottish Journal of Political Economy 16 (1969): 274; Viner, 128-38.

76 Smith, WN, 2: 663, 671-72, 678.

77 Ibid., 2: 673-74.

76 Smith, WN, 2: 663, 671-72, 678.

77 Ibid., 2: 673-74.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

78 Edwin Cannan, A History of the Theories of Production and Distribution from 1776 to 1848 (1893; reprint, New York: Augustus M. Kelley, 1967), 12.

79 Ibid., 144.

80 Ibid., 32.

81 See Smith, LJ(A), 353-54; LJ(B), 495-96; Early Draft in Lectures on Jurisprudence; Bowley, 362; Hollander, 114.

82 Ronald Meek, "Adam Smith and the Classical Theory of Profit," in Economics and Ideology and Other Essays (London: Chapman and Hall, 1967), 20.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

83 Smith, WN, 1: 83; my emphasis.

84 Ibid., 1: 332.

85 Ibid., 1: 337-38.

86 Marian Bowley, "Some Aspects of the Treatment of Capital in The Wealth of Nations, " in Essays on Adam Smith, 373.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

87 Hollander, 105; see also 238-39.

88 Ibid., 155, 191-92, 189.

89 Ibid., 192.

90 Smith, WN, 1: 68.

91 Ibid., 1: 280, 363.

90 Smith, WN, 1: 68.

91 Ibid., 1: 280, 363.

92 Hollander, 18.

93 Ibid., 19.

92 Hollander, 18.

93 Ibid., 19.

94 Smith, WN, 1: 53.

95 Ibid., 1: 206, 510.

94 Smith, WN, 1: 53.

95 Ibid., 1: 206, 510.

96 John Hicks, Capital and Growth (New York: Oxford University Press, 1965), 16-18. See also Hla Myint, Theories of Welfare Economics (1948; reprint, New York: Augustus M. Kelley, 1965), 5.

97 Karl Marx, Capital, trans. Ben Fowkes (Harmondsworth: Penguin, 1976),1: 736.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

98 Cannan, History, 61.

99 Ibid., 53.

100 Ibid.

101 Smith, WN, 2: 823.

102 Myint, 8.

103 Groenewegen, 281; I. C. Lundberg, Turgot's Unknown Translator (The Hague: Nijhoff, 1964), 70-72.

104 Schumpeter, 324 n 2.

105 See especially Lundberg's interesting discussion of this correspondence of terms. Although Lundberg enormously overstates her general case, she is convincing on this point. In this connection see, for example, Viner, 134.

106 Sheldon S. Wolin, Politics and Vision, 290, as quoted by Andrew Skinner, A System of Social Science: Papers Relating to Adam Smith (Oxford: Oxford University Press, 1979), 209. See also George Stigler, "Smith's Travels on the Ship of State," in Essays on Adam Smith, 237.

107 Smith, WN, 1: 471, 472.

108 Ronald Meek, Smith, Marx, and After (London: Chapman and Hall, 1977), 14-16.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

109 Smith, WN, 1: 540; my emphasis.

110 Ibid., 2: 9 10.

111 Ibid., 1: 428, 372.

112 Ibid., 1: 357.

113 Ibid., 1: 324.

114 Ibid., 1: 465, 522-23.

115 Ibid., 2: 687-88.

116 Ibid., 2: 724, 731.

117 Ibid., 2: 781, 782.

118 Ibid., 2: 785, 786.

119 Ibid., 2: 562, 606.

120 Ibid., 2: 833. My analysis thus departs from the often insightful dis-

cussion by Donald Winch, Adam Smith's Politics: An Essay in Historiographic Revision (Cambridge: Cambridge University Press, 1978), who draws attention (170-72) to Smith's advice to the legislator but who argues (140) that Smith's "agrarian bias cannot be regarded as having great political significance"—a position clearly at variance with the argument I have advanced.

121 Karl Marx, Theories of Surplus Value, trans. Emile Burns, ed. S. W. Ryazanskaya (Moscow: Progress Publishers, 1963), 1: 43.

1 Karl Marx, Grundrisse, trans. Martin Nicolaus (Harmondsworth: Penguin, 1973), 252-53.

2 Karl Marx, Capital, trans. Ben Fowkes (Harmondsworth: Penguin, 1976), 1: 876. See also Marx, Grundrisse, 507, 769.

3 Karl Marx, Capital, trans. David Fernbach (Harmondsworth: Penguin, 1981), 3: 919.

4 Smith's doctrine is, however, somewhat inconsistent. At times he follows Petty's view that rent is price-determining, not price-determined, especially when he is developing his theory of natural price. Elsewhere, he tends to treat rent as price-determined—and in such places (as in chap. 11, Book 1 of The Wealth of Nations, "Of the Rent of Land"), he clearly departs from the analysis set down by Petty.

5 Karl Marx, The Poverty of Philosophy (New York: International Publishers, 1963), 121.

6 J. Ralph Lindgren, The Social Philosophy of Adam Smith (The Hague: Nijhoff, 1973), xiv.

7 This shift in the conceptual structure of classical economics is clearest in the case of Ricardo and Say. On Ricardo see note 5 to the introduction. Say's narrowing of the focus of political economy was a source of concern to the Physiocrat Dupont who wrote the former that "you have narrowed the scope of economics too much in treating it only as the science of wealth. It is la science du droit naturel applied, as it should be, to civilized society." This letter of 22 April 1815 is quoted by Thomas P. Neill, "Quesnay and Physiocracy," Journal of the History of Ideas 9 (1948): 108. The case of Bentham is somewhat different given the breadth of his intellectual concerns. Nevertheless, he reconstructed Smithian economics in a manner quite foreign to Smith's outlook (and one which decisively influenced James Mill and John Stuart Mill). This issue is perceptively discussed by Robert Denoon Cumming, "Giving Back Words: Things, Money, Persons," Social Research 68 (1981): 227-59.

8 Marx, Grundrisse, 452-70, esp. 462.

9 Marx, Capital, 1: 928, 929.