The Economics of François Quesnay

Vaggi, Gianni

doi:10.1007/978-1-349-09096-9

Cited by 137 publications

(18 citation statements)

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“…178-9). Neither Quesnay's theory of value, nor his theory ofbprofit (so clearly.set out in Vaggi, 1987) are shown to be part of this analysis. In fact, Hutchison switches quickly from Physiocratic economics.…”

Section: I!mentioning

confidence: 95%

“…1986); the Physiocrats (Eltis. 1984. chapters I and 2;Vaggi. 1987); the Scottish Englightenment and the development of political economy (Campbell and Skinner, 1982;Hont and Ignatief.…”

Section: I37mentioning

confidence: 99%

“…distribution and circulation of surplus from both the perspective of a theory JUNE of value and a theory of growth. Eltis (1984. chapters 1-3, 9) has strikingly demonstrated the enormous similarity between Quesnay's and Smith's formal theories of growth, while Vaggi (1987) has emphasized the crucial role of value theory in Physiocratic analysis, thereby linking value, surplus, profits, accumulation and growth in this important reinterpretation of the Physiocratic system. As Vaggi (1987. p. 190) concisely puts it in the concluding chapter of his book: 'Thus Quesnay bequeathed to classical economics the idea that a theory of wealth, founded on the notions of surplus and reproduction.…”

Section: I!mentioning

confidence: 99%

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New Light on the Origins of Modem Economics*

Groenewegen

1989

Economic Record

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This paper reviews recent books on the 17th‐ and 18th‐century economics for the Lght rhq shed on the origins of economics wuh porticular reference 10 Hutchison's Before Adam Smith. The three sections focus successively on the role of secularization in the origins of economics, Hutchinson's chronological divisions as used in his book, and some relationships between this part of the history of thought and modern controversy. The importance of recent research on Jansenist theology and economic order, pre‐Smithian economics as crucial to understanding identification of an alternative surplus approach or production‐exchange dual in economics are emphasized in sections 1 and 3 respectively.

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Section: I!mentioning

confidence: 95%

“…1986); the Physiocrats (Eltis. 1984. chapters I and 2;Vaggi. 1987); the Scottish Englightenment and the development of political economy (Campbell and Skinner, 1982;Hont and Ignatief.…”

Section: I37mentioning

confidence: 99%

Section: I!mentioning

confidence: 99%

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New Light on the Origins of Modem Economics*

Groenewegen

1989

Economic Record

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“…. He defined surplus (or produit net) in value terms (Vaggi 1987) as the difference between the value of output and costs, allowing him to argue that non-agricultural prices covered costs but no more, and thus that only agriculture produced a surplus. 25-26).…”

Section: A French Tradition: Boisguilbert Quesnay Mirabeau Amentioning

confidence: 99%

The Concept of an Agricultural Surplus, From Petty to Smith

Brewer

2011

J Hist Econ Thought

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Everyone has to eat, so agriculturalists must produce enough to feed themselves and the rest of the population. This statement is trivially obvious but making it explicit mattered to the early development of economic thinking. Many important economic writers of the period (Petty, Cantillon, Hutcheson, Hume, Steuart, Mirabeau, Smith, and others) used a specific notion of agricultural surplus of the form: x men can feed y, where y > x. A series of questions about the relation between agriculture and the rest of the economy naturally follows. Will the surplus be produced? How does it reach those who consume it? What are the “superfluous hands” (in Hume’s terms) to do? This paper points out this neglected theme in early economics.

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“…Meek, partly followed by G. Vaggi (1987), adopts a prudent and sensible view: in the short term, in between two lease negociations, farmers may be able to reap some profit thanks to an improvement of techniques, a rise in corn price, or both. These transitory profits may finance a noticeable increase in advances.…”

mentioning

confidence: 98%

Productive activities and the wealth of nations: some reasons for Quesnay's failure and Smith's success

Cartelier¹

2003

The European Journal of the History of Economic Thought

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The opposition between productive activity (agriculture) and unproductive ones (the others) underlies the Tableau economique. Smith borrows Quesnay's theory of production but deeply transforms it into a distinction between productive and unproductive labour. In any case, it seems quite natural to relate the increase of the wealth of a nation to the relative importance of productive activities vis-a-vis unproductive ones. Quesnay and Smith both share this view. However, if Smith is perfectly right in doing so, Quesnay has failed to prove a definite relation between the fraction of the revenue spent with respect to the productive sector, on the one hand, and the level or growth of the revenue, on the other. Differences in political philosophy may account for this unequal analytical performance.

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The Economics of François Quesnay

Cited by 137 publications

References 0 publications

New Light on the Origins of Modem Economics*

New Light on the Origins of Modem Economics*

The Concept of an Agricultural Surplus, From Petty to Smith

Productive activities and the wealth of nations: some reasons for Quesnay's failure and Smith's success

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