Download A History of Portuguese Economic Thought (Routledge History by Antonio Almodovar, Jose Luis Cardoso PDF

By Antonio Almodovar, Jose Luis Cardoso

ISBN-10: 0203266307

ISBN-13: 9780203266304

ISBN-10: 0415178878

ISBN-13: 9780415178877

A historical past of Portuguese financial inspiration bargains the 1st account in English of the improvement of financial idea in Portugal. The authors undertake a comparative method of examine how financial doctrine, theories and guidelines were disseminated and assimilated by way of Portuguese economists in numerous sessions. They examine the effect on Portuguese financial considered significant economists equivalent to Adam Smith, Keynes and Hayek.

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In other words, the discontinuous nature of their reflections ends up constituting a specific field of experience, knowledge and action, the coherence of which derives from the intertwining of paths leading to one and the same aim: to think about the economic state of the kingdom, to consider its various potentialities and set out suitable strategic guidelines. Restoration, evolution, progress – these are the expressions which best encapsulate the final goal of the different paths that were followed by Portuguese economic thinkers in the second half of the seventeenth century.

Without the tax revenue from customs duties, the battles fought to ensure Restoration would be part of a lost war. For António Vieira, the road to progress would be achieved through trade routes. One final and flagrant testimony puts it thus, As a result of a lack of trade, the grandeur and opulence of Portugal was reduced to the state in which Your Majesty found it, and the restoration of trade is the most expedient path for restoring the kingdom its former and even happier state. (1643: 15) This opinion was, however, not shared by the authors that we shall analyse next.

One was that he had neglected agriculture, implementing an industry-led economic policy that had foundered due to stagnation in the agricultural sector. The other was that the pervading intervention of the state had hampered and constrained the actions of individual economic agents. These powerful criticisms made Portuguese authors receptive to arguments formerly developed by the French physiocrats. Such an influence had been felt since the beginning of the 1780s, and the Royal Academy of Sciences of Lisbon was the main centre for its diffusion.

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A History of Portuguese Economic Thought (Routledge History of Economic Thought) by Antonio Almodovar, Jose Luis Cardoso

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