Wealth and Power: Quesnay's Political Economy of the “Agricultural Kingdom”

2002 ◽  
Vol 24 (1) ◽  
pp. 91-110 ◽  
Author(s):  
Philippe Steiner
Keyword(s):  
Political Economy ◽  
World Economy ◽  
Natural Order ◽  
New Science ◽  
Sensitive Question ◽  
Highly Sensitive ◽  
National Power ◽  
Immanuel Wallerstein ◽  
The Military ◽  
Fernand Braudel

The Physiocrats “New Science” of Political Economy is often represented as unrelated to the pursuit of national power. A recent study (Fourquet 1989), which rests on the approaches of Fernand Braudel (1979) and Immanuel Wallerstein (1980), has radicalized the thesis already propounded by Edmond Silberner (1939) who claimed that Quesnay was profoundly ignorant of military matters and failed to understand the power struggles being played out on the seas and in the colonies. Did not Quesnay propose turning back to an agricultural economy, banishing industry, trade, and the navy—in short, all the active forces thanks to which Great Britain had snatched domination of the world economy from Holland and thanks to which she would prevent France from obtaining it?Yet this thesis is weak. It must be remembered that Quesnay's first economic writings date from 1756–57, that is to say a period when confrontation between France and England was at a peak, with the start of the Seven Years' War. How could an author who claims to de ne the economic government ofan agricultural nation ignore the military problems which were so crucial in this period? Even if he wanted to, how could he succeed in doing so once he came to deal with taxes and the highly sensitive question of finance? How could he make himself understood by his contemporaries with a political theory that set aside all the burning issues of the day? How could he find an audience among those developing the science of commerce who always accorded great importance to the pursuit of power?Under scrutiny the traditional thesis appears inaccurate. After recalling the writings of some of his contemporaries, whom Quesnay knew and read (section 1), I shall show that articles drafted between 1756 and 1757, like published or unpublished works which Mirabeau and Quesnay elaborated between 1757 and 1760, give significant room to the nation's military power, particularly when the economic government is in question (section 2). From the years 1763–64 the idea of a natural order does not lead Quesnay to neglect the pursuit of power (section 3). These links between power and wealth in the work of the founder of Physiocracy will lead finally to some remarks on political economy as a form of rationalization of politics.

Regionalism and Finance: A Conceptual Approach

1996 ◽  
Vol 1 (4) ◽  
pp. 357-378
Author(s):  
Randall D. Germain
Keyword(s):  
Political Economy ◽  
World Economy ◽  
International Political Economy ◽  
World Politics ◽  
Conceptual Approach ◽  
Regional Finance ◽  
Contemporary World ◽  
Commercial Exchange ◽  
Fernand Braudel ◽  
The Way

There is a widespread debate within the field of international political economy (IPE) regarding the causes and consequences of regionalism in world politics. Rarely, however, has this debate considered the effects of regionalism on finance. This article contributes to this debate by reaching beyond conventional categories of political economy to explore the way in which the organization of finance is being shaped by regionalism in Europe. By employing a theoretical framework adapted from the work of Fernand Braudel, it locales the effects of regionalism within the context of the market economy, or what Braudel identifies as the domain of transparent commercial exchange. It explores the changing nature of identity among selected financial institutions in order to ask how far a regional dimension is emerging within the organization of finance, and concludes that what may be called regional finance is in fact emerging in Europe. Such an approach contributes to existing debates on regionalism in world politics by drawing our attention to the changing motivations, practices and dynamics of finance in Europe, and the way in which this may be seen as part of the overarching structure of the contemporary world-economy.

scholarly journals Political Economy Theories in the Context of Defence Industry

2019 ◽  
Vol 1 (13) ◽  
Author(s):  
Donatas Palavenis
Keyword(s):  
Political Economy ◽  
Military Expenditure ◽  
Economic Effects ◽  
Practical Significance ◽  
Economic Science ◽  
Historical Case Study ◽  
Historical Case ◽  
Theoretical Approaches ◽  
Defence Industry ◽  
The Military

Object of the analysis. Increasing defence expenditures bring back a discussion weather the national defence industry is necessary to sustain economic welfare of a country, boosts innovations and enhances own military sector. Investigation problem. The use of political economy theories in that case could facilitate further research steps and guide scientists that will look for a precise answer to this issue. The aim of this manuscript is to review political economy theories that can be used in defining defence industry as such, and consider practical applicability options of different methodological approaches in the context of defence industry. To reach this aim, following objectives were designed: 1. Describe political economy phenomena and define its evolution; 2. Evaluate traditions of political economy and define their practical significance; 3. Assess methods used in actual analysis of defence industry and define the main findings. Research methods. While writing this article, the comparative literature analysis method was used. The famous scientists such as R. Abdelal, C., Adam, S. Dercon, G. Agostino, J. P. Dunne, L. Pieroni, M. Blyth, G. Browning, A. Kilmister, J. P. Dunne, E. Skons, D. Braddon, A. Gilpin, A. Goldstein, R. Jacson, G. Sorensen, S. Jevons, R. O. Keohane, C. W. Mitchell, I. D. Salavrakos, A. Sen and R. M. Smith were cited and referenced. All used literature is referenced. This article is structured into two big parts. The first part is devoted to the analysis of political economy subject itself and its approaches towards empirical research. The second part is designed to reveal possible application options of different theoretical political economy approaches in the context of defence industry. Outcomes and conclusions. In the context of current analysis of different political economy theories, different approaches on methodology, analytical side, linkage with defence industry, defence spending and possible insights about investigation possibilities the following conclusions were found: Political economy that originated in the XVII–XVIIIth century and currently is adopting different theoretical approaches in most cases is still relying on “grand” theories such as realism (mercantilism), liberalism, and Marxism. The existing variety of research methodologies and tools suggests the “correct” way to examine features of situation based on selected theory. Researches should be aware that even a proper methodology does not guaranty the reliability of research results due to the complexity of political economy subject itself and its interdependency to both political and economic science features. There are different scholars explaining trends and proposing different theoretical approaches to analyse defence sector and its connections (influence) with state. Current dynamics of defence industry led to renewed debates over whether the increase of the military expenditure enhances or deteriorates economic growth and welfare of the state. There have been numerous studies done in defining military expenditure (also research and development programs in the military sector) impact on local and state economies. Regardless of different methodologies used (econometric analyses, macro econometric models, time series models, demand side model, supply side model, cross-country correlation analyses and historical case study) there was no strong evidence that military expenditure is likely to have the negative economic effects on states. Keywords: political economy, defence industry, military expenditure, defence.

Political Economy and the Science of Economics in Victorian Britain

2005 ◽  
Author(s):  
Keith Tribe
Keyword(s):  
Higher Education ◽  
Nineteenth Century ◽  
Political Economy ◽  
Public Education ◽  
Modern World ◽  
Access To Higher Education ◽  
Teaching And Research ◽  
Victorian Britain ◽  
New Science ◽  
University Life

This chapter looks at the historical understanding of political economy. It also describes the transformation of political economy as a general understanding of wealth and its distribution to a new science of economics. This transition can be linked to the expanding system of public education during the later end of the nineteenth century and the reorganisation of university life around teaching and research in modern subjects. The movement for wider access to higher education was associated with the formation of new university subjects in the humanities. Among these modern subjects, commerce and economics were prominent as new disciplines of study relevant to the modern world.

Consequences

2018 ◽  
pp. 266-310
Author(s):  
Elena A. Schneider
Keyword(s):  
Political Economy ◽  
Human Trafficking ◽  
Military Service ◽  
African Descent ◽  
Spanish America ◽  
The Political ◽  
Black Soldiers ◽  
Slave Rebellion ◽  
Sub Saharan ◽  
The Military

Chapter 6 links the Aponte slave rebellion in Cuba, which took place fifty years after the siege of Havana, with the wide-ranging impacts of the British invasion and occupation. After Spain regained Havana, Spain took unprecedented measures to promote transatlantic human trafficking, including the annexation in 1778 of what would become its only sub-Saharan African colony, Equatorial Guinea, as well as the tightening of ties to the Spanish Philippines, which was seen as an essential source of goods for exchange in the slave trade. Its Enlightenment-inspired reforms also included new efforts to promote the military service of Spain’s black subjects in both Cuba and greater Spanish America. In the decades that followed the Seven Years’ War, the men of African descent who had defended Cuba from British attack in 1762 sought the continuation and expansion of their many roles buttressing Spanish colonialism; however, white elites in Havana wanted new departures in Spanish imperial political economy and persuaded policymakers in Madrid to grant them. Their efforts remade the political economy of the island, more severely restricted the traditional privileges of free black soldiers and all people of African descent, and ultimately contributed to the outbreak of the Aponte Rebellion.

Conclusions

1998 ◽  
Author(s):  
W. W. Rostow
Keyword(s):  
United States ◽  
Political Economy ◽  
21St Century ◽  
World Economy ◽  
Industrial Revolution ◽  
The United States ◽  
Population Increase ◽  
The Political ◽  
The World ◽  
The Government

I have tried in this book to summarize where the world economy has come from in the past three centuries and to set out the core of the agenda that lies before us as we face the century ahead. This century, for the first time since the mid-18th century, will come to be dominated by stagnant or falling populations. The conclusions at which I have arrived can usefully be divided in two parts: one relates to what can be called the political economy of the 21st century; the other relates to the links between the problem of the United States playing steadily the role of critical margin on the world scene and moving at home toward a solution to the multiple facets of the urban problem. As for the political economy of the 21st century, the following points relate both to U.S. domestic policy and U.S. policy within the OECD, APEC, OAS, and other relevant international organizations. There is a good chance that the economic rise of China and Asia as well as Latin America, plus the convergence of economic stagnation and population increase in Africa, will raise for a time the relative prices of food and industrial materials, as well as lead to an increase in expen ditures in support of the environment. This should occur in the early part of the next century, If corrective action is taken in the private markets and the political process, these strains on the supply side should diminish with the passage of time, the advance of science and innovation, and the progressively reduced rate of population increase. The government, the universities, the private sector, and the professions might soon place on their common agenda the delicate balance of maintaining full employment with stagnant or falling populations. The existing literature, which largely stems from the 1930s, is quite illuminating but inadequate. And the experience with stagnant or falling population in the the world economy during post-Industrial Revolution times is extremely limited. This is a subject best approached in the United States on a bipartisan basis, abroad as an international problem. It is much too serious to be dealt with, as it is at present, as a domestic political football.

Sign in / Sign up

Export Citation Format

Share Document