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Adam Smith's Analysis of Bounties as an Early Example of the Concept of Noneconomic Objectives

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  • Bruce Elmslie

Abstract

. Smith uses his analysis of bounties to form one aspect of his overall critique of the mercantile system. He stresses the fact that the system of bounties has not promoted the development of the English economy. However, Smith also stresses that, as destructive as the system of export bounties is to public welfare, these bounties are not significant enough to greatly retard the growth of the English economy, which has more to do with secure property rights and securing investors their return on their investments.

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  • Bruce Elmslie, 2004. "Adam Smith's Analysis of Bounties as an Early Example of the Concept of Noneconomic Objectives," American Journal of Economics and Sociology, Wiley Blackwell, vol. 63(4), pages 899-910, October.
    • Handle: RePEc:bla:ajecsc:v:63:y:2004:i:4:p:899-910
    DOI: 10.1111/j.1536-7150.2004.00322.x
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    References listed on IDEAS

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    1. Andrea Maneschi, 1998. "Comparative Advantage in International Trade," Books, Edward Elgar Publishing, number 856.
    2. Say, Jean-Baptiste, 1880. "A Treatise on Political Economy; or the Production, Distribution, and Consumption of Wealth," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 4, number say1880.
    3. Bruce Elmslie, 2004. "Adam Smith and Noneconomic Objectives," Review of International Economics, Wiley Blackwell, vol. 12(4), pages 689-692, September.
    4. Andrea Maneschi, 2004. "Noneconomic Objectives in the History of Economic Thought," American Journal of Economics and Sociology, Wiley Blackwell, vol. 63(4), pages 911-920, October.
    5. Jagdish Bhagwati & Arvind Panagariya & T. N. Srinivasan, 1998. "Lectures on International Trade, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522470, April.
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    Cited by:

    1. Meacci, Ferdinando, 2011. "From bounties on exportation to the natural and market price of labour: Smith versus Ricardo," MPRA Paper 31153, University Library of Munich, Germany.
    2. Andrea Maneschi, 2004. "Noneconomic Objectives in the History of Economic Thought," American Journal of Economics and Sociology, Wiley Blackwell, vol. 63(4), pages 911-920, October.

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