Economics Dictionary of Arguments

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Mause I 40
Liberalism/Adam Smith: Smith pro Liberalism: the liberal order of competition was considered to be Smith's natural and best order. For the "invisible hand" of competition would ensure that the overall interest is simultaneously promoted in the pursuit of individual interests. The state had to limit itself to fulfilling a few tasks (such as external defence and ensuring legal certainty in the national territory).
Other representatives of liberalism in economics: Jean Baptiste-Say (1767-1832) and David Ricardo (1772-1823). Say became known above all by "Say's Law" that was named after him. (1)


1. Say, Jean-Baptiste. Traité d’Economie Politique, Paris 1803, S. 153.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconSmith I
Adam Smith
The Theory of Moral Sentiments London 2010

EconSmithV I
Vernon L. Smith
Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009

Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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