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The reasons of the laissez-faire

Author

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  • Laura Valladão de Mattos

Abstract

The main reasons presented in The Wealth of Nations to advocate the system of economic liberty and reject mercantilism are analyzed. These two systems are evaluated considering basically their impact on the annual product, and the degree of liberty and justice they engender. Based on his views of man and of capital hierarchy, Smith defends the superiority of economic liberty in what concerns the growth of the annual product. This system is also considered superior to mercantilism in terms of justice since it does not privilege any sector of society and allows a great level of liberty to the individuals. JEL Classification: B12.

Suggested Citation

  • Laura Valladão de Mattos, 2007. "The reasons of the laissez-faire," Brazilian Journal of Political Economy, Center of Political Economy, vol. 27(1), pages 108-129.
    • Handle: RePEc:ekm:repojs:v:27:y:2007:i:1:p:108-129:id:2041
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2041/2027
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    More about this item

    Keywords

    Adam Smith; liberalismo econômico; mercantilismo; justiça; acumulação de capital;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

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