Essay on Jean Baptiste Say

4872 Words Mar 3rd, 2014 20 Pages
Jean Baptiste Say

Economic Doctrines

Agenda 1. Introduction 2.1. J.B.Say in the french Classical Liberalism school of thought 2.2. Mainstream of the Classical Liberalism school of economics 2.3. Specifics of J.B.Say 2.4. Differences regarding the opposition of Classical Liberalism 2. Description of J.B.Say 3. New approach brought by J.B.Say 4. Opinion 5. Summary

1. Introduction 1.1. J.B.Say in the french Classical Liberalism school of thought
Jean Baptiste Say was a French economist and businessman. He had classical liberal views and argued in favor of competition, free trade and lifting restraints on business. He is best
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These beliefs were complemented by a belief that "labor", for instance individuals without capital, can only be motivated by fear of hunger and by a reward, while "men of higher rank" can be motivated by ambition, as well. This led politicians at the time to pass the Poor Law Amendment Act, which limited the provision of social assistance, because classical liberals believed in "an unfettered market" as the mechanism that will mot efficiently lead to a nation's wealth. Adopting Thomas Malthus' population theory, they saw poor urban conditions as inevitable, as they believed population growth would outstrip food production and they considered that to be desirable, as starvation would help limit population growth. They opposed any income or wealth redistribution, which they believed would be dissipated by the lowest orders.
Drawing on selected ideas of Adam Smith, classical liberals believed that all individuals are able to equally freely pursue their own economic self-interest, without government direction, serving the common good. They were critical of the welfare state as interfering in a free market. They criticized labor’s group rights being pursued at the expense of individual rights, while they accepted big corporations' rights as being pursued at the expense of inequality of bargaining power.
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