Book contents
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- 1 Introduction
- 2 Early Views on the Economic Role of the State
- 3 Laissez Faire and the Industrial Revolution
- 4 The Beginning of Economic Reforms
- 5 On Resource Allocation, Optimality, and Equity
- 6 Beginning of Changes in the Activities of Governments
- 7 Toward Larger Government Roles
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- References
- Index
2 - Early Views on the Economic Role of the State
from Part I - The Period until the Great Depression
Published online by Cambridge University Press: 07 December 2023
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- 1 Introduction
- 2 Early Views on the Economic Role of the State
- 3 Laissez Faire and the Industrial Revolution
- 4 The Beginning of Economic Reforms
- 5 On Resource Allocation, Optimality, and Equity
- 6 Beginning of Changes in the Activities of Governments
- 7 Toward Larger Government Roles
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- References
- Index
Summary
This chapter covers: historical theorizing about what role the state ought to play in an economy; from the mercantilist to the market role; historical fear of a Leviathan government role; government role in France and the origin of the term “laissez faire”; Adam Smith’s alternative view of the “wealth of nations”; the role of the “invisible hand”; Weber’s view of mercantilism and of its role in the growth of the capitalist system; advent of the Industrial Revolution and its need for energy, and also for better use of time; Adam Smith’s view of the role of the state in regulations and also in some redistribution; and the importance of empathy in communities.
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- Monitoring the State or the MarketFrom Laissez Faire to Market Fundamentalism, pp. 10 - 16Publisher: Cambridge University PressPrint publication year: 2023