History of Portuguese Economic Thought [NOOK Book]


The first account in English of the development of economic thought in Portugal. The volume covers from the golden age of the Discoveries until the end of the first half of the twentieth century.

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History of Portuguese Economic Thought

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The first account in English of the development of economic thought in Portugal. The volume covers from the golden age of the Discoveries until the end of the first half of the twentieth century.

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Product Details

Table of Contents

Introduction 1
1 The Golden Age and the mercantilist era (1500-1750) 14
The medieval prelude 14
Discovering new economic worlds and new market relations 15
Maritime enterprise and the systems of insurance and exchange 17
Mercantilism in the making 22
Restoration and trade 23
Population and subsistences 26
Industry and the trade balance 29
Balance and conclusion 32
2 The new path to the wealth of the Portuguese nation (1750-1808) 36
The legacy of Marques de Pombal 36
The Royal Academy of Sciences and the emergence of physiocratic influences 39
Political and financial constraints 41
Natural law, social order and legal despotism 43
Physiocracy and the emergence of political economy 46
The influence of Smith 49
Smith in the shadow: a theoretical pretext for economic policy debates 51
From economic liberalism to economic reform 53
3 The difficult reception of classical political economy (1810-1850) 55
Old and new strategies for economic development 55
Political economy, industry and progress 58
Political economy and economic change 63
Institutional change and the role of political economy 66
The teaching system and the institutionalisation of political economy 70
4 The avoidance of analytical economic thought (1850-1920) 78
Economics, politics and law 78
Nationalist, historical and socialist concerns 81
Socialist thought and state intervention 84
The state and the market: the role of competition and economic freedom 88
The formation of a plural canon 90
The difficult existence of a mathematical economist 96
5 From corporatism to Keynesian economics (1920-1960) 100
The absence of neo-classical economics 100
Salazar and the rise of the corporative state 103
Political economy and the economic policies of corporatism 105
The ambiguous reception given to Keynesian ideas 110
The spread of Keynesian economics 112
Keynesianism, politics and economic policy 114
Concluding remarks: peaceful coexistence in 'the age of extremes' 116
Epilogue 120
Notes 122
References 127
Name Index 138
Subject Index 142
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