Historians have traditionally used the discourses of free trade
and "laissez faire" to explain the development of political economy
during the Enlightenment. But from Sophus Reinert s perspective,
eighteenth-century political economy can be understood only in the
context of the often brutal imperial rivalries then unfolding in
Europe and its former colonies and the positive consequences of
active economic policy. The idea of economic emulation was the
prism through which philosophers, ministers, reformers, and even
merchants thought about economics, as well as industrial policy and
reform, in the early modern period. With the rise of the British
Empire, European powers and others sought to selectively emulate
the British model.
In mapping the general history of economic translations between
1500 and 1849, and particularly tracing the successive translations
of the Bristol merchant John Cary s seminal 1695 "Essay on the
State of England, " Reinert makes a compelling case for the way
that England s aggressively nationalist policies, especially
extensive tariffs and other intrusive market interventions, were
adopted in France, Italy, Germany, and Scandinavia before providing
the blueprint for independence in the New World. Relatively
forgotten today, Cary s work served as the basis for an
international move toward using political economy as the prime tool
of policymaking and industrial expansion.
Reinert s work challenges previous narratives about the origins
of political economy and invites the current generation of
economists to reexamine the foundations, and future, of their
discipline.
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