Mathew Forstater wrote: > > Every line of this section in Darity is crucial, and unfortunately I can't > type every line in. Please see how Darity puts this into political and > economic-theoretical context!!!! (Darity, 1992) Key here (Sam P. if you > are reading this!!) is the two paragraphs on Smith!!! > I think Smith was the pivot point in the shift from Mercantalism/Physiocracy towards laissez-faire (traces of both can be found in his work). This shift represented a continuity in British Nationalism as Smith thought that Britain would be better off moving from Mercantilist policies to laissez-faire i.e. once it had built up its comparative advantages. Found this gem from one of my favorites Bernard Mandeville supposedly the originator of laissez-faire but who was really a Mercantilist. "Every Government ought to be thoroughly acquainted with, and stedfastly pursue the Interest of the country. Good Politicians by dextrous Management, laying heavy impositions on some Goods, or totally prohibiting them, and lowering the Duties on others, may always turn and divert the Course of Trade which way they please...But above all, they'll keep a watchful Eye over the Balance of Trade in general and never suffer that all the Foreign Commodities together, that are imported in one Year, shall exceed in value what of their own Growth or Manufactures is in the same exported to others. Note that I speak now ofthe Interest of those Nations that have no Gold or Silver of their own Growth." Mandeville, Fable of the Bees,p115,1714 Sam Pawlett
