Introduction

At the annual Autumn Fair of 1564 in Frankfurt on the Main the printed catalogue of books presented – the very first of its kind – contained a chapter on ‘German Books on the Holy Bible by the Protestant Theologists’ (‘Deutsche Buecher inn heiliger Schrifft / der Protestierenden Theologen’). In this chapter a booklet is listed with the title ‘On the Praise of Self-Interest’ (‘Von dem Lob deß Eigen Nutzen’). The front page of the booklet depicts self-interest as a person whose chest is emblazoned with the striking claim: ‘Everything in my bag’ (‘Alles in mein Sack’). The author does not belong to the leading Protestant theologists of the time, but rather has a reputation as an experienced writer on warfare. His name is Leonhard Fronsperger, a citizen of the Free Imperial City of Ulm, located in the Upper German part of the Holy Roman Empire. The work is dedicated to the connection between the strife for individual benefit, in particular in economic activities, but also in social and political affairs, and the common good of a society as a whole. It anticipates, by at least 150 years if not longer, two famous theoretical concepts in economic analysis and social ethics that were developed in the eighteenth century by Bernard Mandeville and Adam Smith.

This early praise of self-interested behaviour and its positive impact on the common good has been overlooked even in the German-language literature, with very few exceptions. There may be various reasons for the lack of recognition: Fronsperger only wrote this one work on the subject, his authorship is asserted but not finally proven, he wrote in the German language, and there has never been a translation into English or French. However, all these aspects should not obscure the fact that he belonged to a relatively small group of writers in Northern Italy and Upper Germany who developed a revolutionary new concept of selfish human behaviour and its consequences as early as the sixteenth century. The rediscovery of Fronsperger's work has only started a decade ago, but there are still some mysteries to solve concerning its origins and repercussions. And we are sure that the first English translation of the text will very much contribute to a higher international awareness of this unique German contribution to the theory of economic thought.