Fronsperger and Laffemas: 16th-century Precursors of Modern Economic Ideas

This volume introduces two unique and hitherto largely unknown contributions to the making of modern economic knowledge, emphasizing the role of individual interests and government. Barthélemy de Laffemas' General regulation for the establishment of manufactures is an early voice in the history of political economy, presenting a basic version of the infant industry argument and European standard model of economic development. Leonhard Fronspergers' On the praise of self-interest is the first documented instance of the 'Mandeville paradox' in modern economics.

Format: Hardback
Length: 250 pages
Publication date: 02 May 2023
Publisher: Anthem Press

This volume presents two groundbreaking and previously largely unknown contributions to the development of modern economic knowledge, making them available internationally for the first time in comprehensive English translation. The messages of the books appear to be contradictory, with one emphasizing the role of individual interests and the other emphasizing the role of government. However, together, they form two essential pillars for the economics profession: self-interest and industrial policy.

- Written in 1597, Barthélemy de Laffemas' General Regulation for the Establishment of Manufactures (originally titled Reiglement général pour dresser les manufactures in French) stands as one of the earliest and most influential voices in the history of political economy. It emphasizes the crucial importance of manufacturing and large-scale industry as the foundations of national wealth. Situated at the crossroads between medieval Scholasticism and early mercantilism, the book offers a fundamental version of the infant industry argument and the European standard model of economic development, which later evolved into the works of Enlightenment thinkers such as Colbert and Friedrich List. It also laid the foundation for the industrial policy pursued by various countries following England's path to industrialization, including the post-World War II Marshall Plan.

- Leonhard Fronspergers' On the Praise of Self-Interest (German original: Von dem Lob deß Eigen Nutzen, 1564) is considered the first documented instance of the 'Mandeville paradox,' a theorem in modern economics often associated with later writings, including Bernard de Mandevilles Fable of the Bees (1705/14) and Adam Smith's Wealth of Nations (1776). The paradox challenges the notion that self-interest alone can lead to societal prosperity, as it suggests that individuals may prioritize their own gain over the collective well-being of society. Fronspergers' work explores the complex interplay between individual and societal interests and sheds light on the ethical and economic considerations that shape human behavior.

In conclusion, this volume offers a valuable insight into the historical development of economic thought, providing a comprehensive examination of two groundbreaking contributions that have shaped the field. By presenting these works in English translation, it enables a broader audience to engage with these important ideas and contribute to the ongoing debate about economic policy and human behavior.

Weight: 454g
Dimension: 229 x 153 x 26 (mm)
ISBN-13: 9781839987083