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Introductionxiiicognate Calvinist virtue of thrift) reflected his lifelong Calvinist world-outlook.John Stuart Mill's resurrection of Ricardianism may be interpreted ashis fileopietist devotion to the memory of his dominant father, and AlfredMarshall's trivialization ofAustrian insights into his own neo-Ricardian schemaalso came from a highly moralistic and evangelical neo-Calvinist.Conversely, it is no accident that the Austrian School, the major challengeto the Smith-Ricardo vision, arose in a country that was not only solidlyCatholic, but whose values and attitudes were still heavily influenced byAristotelian and Thomist thought. The German precursors of the AustrianSchool flourished, not in Protestant and anti-Catholic Prussia, but in thoseGerman states that were either Catholic or were politically allied to Austriarather than Prussia.The result of these researches was my growing conviction that leaving outreligious outlook, as well as social and political philosophy, would disastrouslyskew any picture of the history of economic thought. This is fairlyobvious for the centuries before the nineteenth, but it is true for that centuryas well, even as the technical apparatus takes on more of a life of its own.In consequence of these insights, these volumes are very different from thenorm, and not just in presenting an Austrian rather than a neoclassical orinstitutionalist perspective. The entire work is much longer than most since itinsists on bringing in all the 'lesser' figures and their interactions as well asemphasizing the importance of their religious and social philosophies as wellas their narrower strictly 'economic' views. But I would hope that the lengthand inclusion of other elements does not make this work less readable. Onthe contrary, history necessarily means narrative, discussion of real personsas well as their abstract theories, and includes triumphs, tragedies, and conflicts,conflicts which are often moral as well as purely theoretical. Hence, Ihope that, for the reader, the unwonted length will be offset by the inclusionof far more human drama than is usually offered in histories of economicthought.Murray N. RothbardLas Vegas, NevadaNotes1. Joseph Schumpeter's valuable and monumental History (~t' Economic Analysis (New York:Oxford University Press, 1954), has sometimes been referred to as 'Austrian'. But whileSchumpeter was raised in Austria and studied under the great Austrian Bohm-Bawerk, hehimself was a dedicated Walrasian, and his History was, in addition, eclectic and idiosyncratic.2. For an explanation of the three leading Austrian paradigms at the present time, see MurrayN. Rothbard, The Present State (~t' Austrian Economics (Auburn, Ala.: Ludwig von MisesInstitute, 1992).3. When the present author was preparing for his doctoral orals at Columbia University, he
xivEconomic thought before Adam Smithhad the venerable John Maurice Clark as examiner in the history of economic thought.When he asked Clark whether he should read Jevons, Clark replied, in some surprise:'What's the point? The good in Jevons is all in Marshall' .4. Joseph Dorfman, The Economic Mind in American Civilization (5 vols, New York: VikingPress, 1946-59); Quentin Skinner, The Foundations (~t' Modern Political Thought (2 vols,Cambridge: Cambridge University Press, 1978).5. Thomas S. Kuhn, The Structure (~t' Scientific Revolutions (1962, 2nd ed., Chicago: Universityof Chicago Press, 1970).6. The attention devoted in recent years to a brilliant critique of neoclassical formalism astotally dependent on obsolete mid-nineteenth century mechanics is a welcome sign of thisrecent change of attitude. See Philip Mirowski, More Heat than Light (Cambridge: CambridgeUniversity Press, 1989).7. At the present time, when English has become the European lingua franca, and mostEuropean journals publish articles in English, this barrier has been minimized.
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Page 6: ContentsIntroductionviiAcknowledgem
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The Christian Middle Ages 47obliged
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The Christian Middle Ages 49More sp
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The Christian Middle Ages 51merchan
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The Christian Middle Ages 53the com
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The Christian Middle Ages 55for fal
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The Christian Middle Ages 57view in
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The Christian Middle Ages 592.8 Lat
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The Christian Middle Ages 61importa
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The Christian Middle Ages 63men, an
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3 From Middle Ages to Renaissance3.
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68 Economic thought before Adam Smi
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4 The late Spanish scholastics4.14.
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5 Protestants and Catholics5.1 Luth
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6 Absolutist thought in Italy and F
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Mercantilism: serving the absolute
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French mercantilist thought in the
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The liberal reaction against mercan
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10 Mercantilism and freedom in Engl
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11 Mercantilism and freedom in Engl
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3J2Economic thought before Adam Smi
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The founding father ofmodern econom
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13 Physiocracy in mid-eighteenth ce
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The brilliance ofTurgot 38514.1 The
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The brilliance ofTurgot 387the-spot
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The brilliance ofTurgot 389Iron' (1
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The brilliance ofTurgot 391Ifthe sa
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The brilliance ofTurgot 393Finally,
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The brilliance ofTurgot 395Increasi
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The brilliance ofTurgot 397excellen
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The brilliance ofTurgot 399It is tr
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The brilliance ofTurgot 401Indeed,
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The brilliance ofTurgot 403duced bu
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The brilliance ofTurgot 405and to s
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The brilliance ofTurgot 407Galiani
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The brilliance ofTurgot 4091780, Ga
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The brilliance ofTurgot 411such pro
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The brilliance ofTurgot 4137. Turgo
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The Scottish Enlightenment 417The t
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The Scottish Enlightenment 419prove
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The Scottish Enlightenment 421Liber
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The Scottish Enlightenment 423An un
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The Scottish Enlightenment 425philo
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The Scottish Enlightenment 427aggre
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The Scottish Enlightenment 429cally
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The Scottish Enlightenment 431deali
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The celebrated Adam Smith 43516.1 T
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The celebrated Adam Smith 437the cr
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The celebrated Adam Smith 439landow
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The celebrated Adam Smith 4411764 a
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The celebrated Adam Smith 443In 176
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The celebrated Adam Smith 445to val
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The celebrated Adam Smith 447procee
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The celebrated Adam Smith 449the un
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The celebrated Adam Smith 451mal pr
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The celebrated Adam Smith 453view,
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The celebrated Adam Smith 455If, in
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The celebrated Adam Smith 457others
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The celebrated Adam Smith 459the po
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The celebrated Adam Smith 461propor
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The celebrated Adam Smith 463tional
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The celebrated Adam Smith 465Smith
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The celebrated Adam Smith 467ing li
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The celebrated Adam Smith 469shows
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The celebrated Adam Smith 471the we
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The celebrated Adam Smith 473cal ec
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17 The spread of the Smithian movem
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Bibliographical essayOverall biblio
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