Interpreting a crisis: trade and money debates in England during the parliament of 1621

The parliament of 1621 witnessed extensive debating of economic issues by those engaged in finding solutions for the exacting crisis which then affected England. These proceedings offer the background against which some of the most relevant economic literature of the period was produced. As debates progressed, two contrasting perspectives gradually emerged. One of them argued that monetary imbalances were responsible for bullion outflows and sluggish economic activity, while the other believed that monetary flows were ultimately caused by an unfavorable balance of trade. These were exactly the same issues at stake in the controversy between Malynes and Misselden in the early 1620’s, to which Mun would provide a solution with his strict adherence to the balance of trade. Thus, through an analysis of economic debates in the 1621 parliament, this paper seeks to offer an essential element for understanding early XVII century British economic reasoning.pre-classical economics; mercantilism; XVII century; Stuart England; Thomas Mun

Merchants and councilors: intellectual divergences in early 17th century British economic thought

During the early 1620’s, England went through a period of intense economic disorders which sparked the interest of many in economic reasoning. The decade witnessed the emergence of the most relevant pieces of economic literature of the early Stuart era, but the debate was not restricted to the abstract confrontation of economic writers. The fundamental issue at stake in the controversies between Malynes, Misselden, and Mun – the integration of money and international trade in a coherent explanation of economic phenomena – was also the subject of much care in the political arena at large. The 1621 parliamentary session, in particular, put in evidence not only the fundamental relevance of the matter for understanding England’s economic maladies, but also the great difficulties involved in its investigation. By bringing all these elements together, the paper seeks to articulate a more dense and meaningful portrait of the prevailing state of economic ideas in early 17th century England.pre-classical economics; mercantilism; 17th century; Stuart England; Thomas Mun

Novas concepçoes filosóficas da era moderna e a fundamentaçao teórica da economia política clássica

Orientador: Ramón Vicente Garcia FernandezMonografia(Graduaçao) - Universidade Federal do Paraná,Setor de Ciencias Sociais Aplicadas, Curso de Ciencias EconômicasResumo: A proposta do presente trabalho é analisar as ligações entre as mudanças ocorridas nas concepções filosóficas do mundo ocidental com a transição da Idade Média para a Era Moderna e as bases morais que fundamentaram a emancipação da Economia Política como um ramo autônomo da ciência, através da tradição clássica iniciada por Adam Smith. Abordaremos o pensamento de Maquiavel e de Hobbes, dois dos primeiros sistematizadores dos paradigmas filosóficos modernos, procurando compreender os elementos fundamentais em que basearam suas análises do homem e da sociedade. Também estudaremos as reflexões teóricas mercantilistas, sua inserção na sociedade do século XVII e a aparente adoção de uma postura favorável à intervenção do Estado nas atividades econômicas. Em seguida, veremos como Locke, flexibilizando o sistema de Hobbes, formulou uma teoria do estado liberal que melhor se adaptava à nova realidade social. Finalmente, levantaremos hipóteses que enfatizam a proximidade entre a doutrina clássica e as reflexões teóricas que a precederam. Para tanto, abordaremos primeiramente a gradual mudança ocorrida na perspectiva moral frente às atividades ligadas ao enriquecimento material, para então analisar as semelhanças entre as proposições econômico-políticas do século XVII e o pensamento de Smith e dos fisiocratas. Concluímos sugerindo a existência de uma certa uniformidade intelectual ao longo do período, no que tange a algumas premissas básicas e a um quadro geral de referência intelectual

Journal of the History of Economic Thought Preprints - Dreams of Order and Freedom: Debating Trade Management in Early-17th Century England

The early 1620s trade crisis had a significant influence on the way public opinion in England regarded economic issues, and the pamphlets written during that period convey the impression that the supply of money was the undisputed primary concern of economic policy. However, monetary matters only occupied a prominent position in the political agenda of England during times of crisis, when the kingdom faced a perceived threat of demonetization. The paper argues that, during the first two decades of the 17th century, concern with a positive balance of trade was only of secondary importance, being normally overshadowed by a more fundamental goal: a well-ordered, stable, and properly managed trade. This opened the door for debates about the limits of free initiative and regulation in economic affairs, as evidenced most clearly by the debates about free trade and monopolies that permeated James I’s reign

Grotius Among the English Merchants: Mare Liberum and Anglo-Dutch Rivalry in the Early Seventeenth Century

Hugo Grotius was a widely read and influential figure in seventeenth-century England. Whereas later generations portrayed him as a forefather to modern theories of natural and international law, the publication of Mare Liberum (1609) offered a grounded argument for free trade against the restrictions imposed by the Spanish and Portuguese colonial empires. But Grotius's notion of free trade, of course, was far removed from the later ideal of Richard Cobden. His model of commercial organization was firmly anchored on the chartered mercantile company, and he served as a spokesperson for the Dutch East India Company (VOC) during the Anglo-Dutch Conferences of 1613 and 1615, which sought to appease growing tensions among Dutch and English trading interests in Asia. As the diplomatic and economic relations between England and the Dutch Republic progressively deteriorated during the early decades of the seventeenth century, Grotius's rendition of the law of nations came increasingly to be regarded as a rationalization of Dutch dominance over long-distance trade routes. English commentators, who wished to emulate Dutch success but feared aggression and subordination, had to fashion a different framework of international politics to sustain their vision of an emerging English maritime empire. Tracing the uses of Mare Liberum in the mercantile literature of early Stuart England, the paper will study how this foundational work of modern international thought shaped the political economic discourse of English merchants, as well as their supporters and adversaries in the political arena. Changing attitudes toward Grotius's arguments will help us identify the origins of certain ideas about empire that later came to the fore by the time of the Navigation Acts and the Anglo-Dutch wars. We will thus explore how Grotius's version of the law of nations -- before it was retrospectively converted into a cornerstone of liberal internationalism -- was entangled in concrete disputes between rival imperial projects

A 'Sudden Outrcry' for Free Trade: Autonomy, Empire and Political Economy in the Irish Free Trade Campaign, 1779-1785

In November 1779, the group of Irish militias known as the Volunteers rallied around a statue of King William III in Dublin protesting for free trade between Ireland and Britain. The episode kickstarted a series of political negotiations around the topic that culminated in the abortive proposal for the establishment of a free trade area in 1785. From the Irish perspective, free trade was regarded as a strategy for eliminating the restrictions and regulations, emanating from London, which had so far stifled the development of local industry. In Britain, however, the proposal faced hostilities due to the expected dislocations for established manufacturing interests. Newly appointed prime minister William Pitt tried to justify the case for free trade with Ireland before the British public by appealing to its beneficial effects for a unified and coherent imperial trade policy. This, in turn, proved unacceptable to Irish politicians and agitators, who regarded free trade as a step in the route to more -- not less -- political autonomy. Exploring public arguments on this topic, the paper investigates the economic and political meanings associated with free trade during the later decades of the 18th century, while discussing how these notions related to the literature on political economy circulating at the time

Merchants and councilors: intellectual divergences in early 17th century British economic thought

Durante o início da década de 1620, a Inglaterra enfrentou um período de intensas dificuldades econômicas que despertou o interesse de muitos pela reflexão acerca dos fenômenos em curso. A década testemunhou o surgimento das mais relevantes obras econômicas do início do período Stuart; porém, o debate não esteve restrito às confrontações abstratas dos autores especializados. A questão fundamental em disputa nas controvérsias entre Malynes, Misselden e Mun – como integrar a moeda e o comércio internacional em uma explicação coerente dos fenômenos econômicos – foi também objeto de muita atenção na esfera pública, em sentido amplo. A Sessão Parlamentar de 1621, em particular, colocou em evidência não apenas a relevância fundamental do tema para a compreensão dos problemas econômicos da Inglaterra, mas também a enorme complexidade envolvida em sua investigação. Ao reunir todos esses elementos, o artigo busca articular um retrato mais denso a respeito do estado corrente das ideias econômicas na Inglaterra do início do século XVII