By Antonio Almodovar, Jose Luis Cardoso
A historical past of Portuguese financial notion bargains the 1st account in English of the improvement of monetary concept in Portugal. The authors undertake a comparative method of examine how monetary doctrine, theories and guidelines were disseminated and assimilated by way of Portuguese economists in several sessions. They investigate the impression on Portuguese monetary considered significant economists resembling Adam Smith, Keynes and Hayek.
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Extra info for A History of Portuguese Economic Thought (Routledge History of Economic Thought)
Before discussing the significance of this, let us examine the main steps in the author’s argument. Severim de Faria considers that, for the population to be able to increase, it is essential to guarantee the development of different forms of productive occupation. It would thus be possible to stanch the flows of emigration, attract people from other places and raise the level of revenue upon which demographic expansion depends. Having been very heavily influenced by his reading of the works of the Italian Botero (published in 1588 and 1589), and certainly also by his knowledge of contemporary Spanish economic literature,8 Severim de Faria accepts the primacy of industrial development and confers upon it the role of acting 28 A history of Portuguese economic thought as the main driving force behind population growth.
4 In 1789 the Academy began publication of a five-volume set of economic transactions (Memórias Económicas 1789–1815). 5 The authors gave special attention to the agricultural situation and to the reforms they felt were indispensable for its improvement. Among their main concerns were the discovery of gradual solutions for easing the burden of the still existing seigneurial structure of land use and property, the removal of barriers to the unification of the internal market and the reform of the tax system of the ancien régime.
The first thing to look at has to do with the way in which he clarified his opening premises: the preservation and progress of the realm depended upon external and internal circumstances which the author classified under the two headings, respectively, of poder alheio (alien power or the power of others) and poder próprio (own power) (Vieira 1643: 1– 3). As to the question of alien power, this is associated with the ‘diversion wrought upon Castile by the arms of France’, considering that ‘for so long as this lasts, it seems that we shall be as safe as we have been until now’, although he did warn that ‘for many very effective reasons, it should not be considered to be very long lasting’ (1643: 3).
A History of Portuguese Economic Thought (Routledge History of Economic Thought) by Antonio Almodovar, Jose Luis Cardoso