The Market and the State: Essays in Honour of Adam Smith.

1978 ◽  
Vol 31 (4) ◽  
pp. 676
Author(s):  
B. A. Corry ◽  
T. Wilson ◽  
A. S. Skinner
Keyword(s):  
Adam Smith ◽  
The State

Markt und Staat bei Adam Smith

2010 ◽  
Vol 59 (2) ◽  
Author(s):  
Johannes Treu
Keyword(s):  
Economic System ◽  
Adam Smith ◽  
The State ◽  
Price System ◽  
Invisible Hand ◽  
Economic Liberalism ◽  
Price Process ◽  
Free Function ◽  
The Invisible

AbstractThe name of Adam Smith is always associated with the development of the invisible hand, the differentiation of labour and with the foundation of the economic liberalism, so that his book the Wealth of Nation is still in fashion. Based on the criticism of mercantilism system Smith develops his own economic system. Furthermore this economic system is more than pure discretion, it is also instruction which role the market and the state have to fulfil. Smith attributes to the market his famous role, the free function of the price system. Whereas the function of the state is limited to three tasks and no intervention into the market or price process are allowed.

The Market and the State. Essays in Honour of Adam Smith.

Economica ◽  
1978 ◽  
Vol 45 (177) ◽  
pp. 93
Author(s):  
Mark Blaug ◽  
T. Wilson ◽  
A. S. Skinner
Keyword(s):  
Adam Smith ◽  
The State

scholarly journals Paradigma Sistem Kapitalisme Dan Islam Tentang Welfare State

2019 ◽  
Vol 4 (1) ◽  
Author(s):  
Muhammad Kambali
Keyword(s):  
Welfare State ◽  
Free Market ◽  
Adam Smith ◽  
The State ◽  
Spiritual Values ◽  
Capitalist System ◽  
Material Interests ◽  
Modern Economic ◽  
The Government ◽  
Role Of The Government

Welfare state or better known as the term prosperous is a form of actualization of idealism that upholds the values of humanism. It containS a set of ideal ideas on how the state is able to serve its people. Capitalism as a modern economic system, which is first demonstrated by humans, built the concept of the walfere state on the philosophy of laizes fair, which manifested itself in a free market system that uphold the value of free faith liberalism. The state in the capitalist system has a famous role with the term minimal role which in the term Adam Smith is said to be no intervesion. These roles include defense security, enforcement of justice and providing and maintaining certain public facilities and institutions. While the concept of walfere state in Islam is an effort to synergize worldly material interests with the spiritual interests of ukrowiyah. In addition, the concept of the welfare state in Islam is also based on the principles of Tawhid, al-Adl and khilafah. The role of the government in the Islamic conception includes fulfilling basic needs and guaranteeing the achievement of spiritual values. The fundamental difference between the two views of this system lies in the aspect of its philosophical foundation. Keywords: Walfare State, Laizes Fair, Tauhid, al-‘Adl

scholarly journals Comparative Interpretation of Classical and Keynesian Fiscal Policies (Assumptions, Principles and Primary Opinions)

2015 ◽  
Vol 4 (2) ◽  
pp. 11-20
Author(s):  
Engin Oner
Keyword(s):  
Fiscal Policy ◽  
Social Life ◽  
Full Employment ◽  
Adam Smith ◽  
The State ◽  
Invisible Hand ◽  
Public Expenditures ◽  
Fiscal Policies ◽  
John Maynard Keynes ◽  
State Assumption

Adam Smith being its founder, in the Classical School, which gives prominence to supply and adopts an approach of unbiased finance, the economy is always in a state of full employment equilibrium. In this system of thought, the main philosophy of which is budget balance, that asserts that there is flexibility between prices and wages and regards public debt as an extraordinary instrument, the interference of the state with the economic and social life is frowned upon. In line with the views of the classical thought, the classical fiscal policy is based on three basic assumptions. These are the "Consumer State Assumption", the assumption accepting that "Public Expenditures are Always Ineffectual" and the assumption concerning the "Impartiality of the Taxes and Expenditure Policies Implemented by the State". On the other hand, the Keynesian School founded by John Maynard Keynes, gives prominence to demand, adopts the approach of functional finance, and asserts that cases of underemployment equilibrium and over-employment equilibrium exist in the economy as well as the full employment equilibrium, that problems cannot be solved through the invisible hand, that prices and wages are strict, the interference of the state is essential and at this point fiscal policies have to be utilized effectively.Keynesian fiscal policy depends on three primary assumptions. These are the assumption of "Filter State", the assumption that "public expenditures are sometimes effective and sometimes ineffective or neutral" and the assumption that "the tax, debt and expenditure policies of the state can never be impartial".

Las Antinomias de la Democracia Liberal

1998 ◽  
pp. 39-44
Author(s):  
Carlos Kohn W.
Keyword(s):  
Political Philosophy ◽  
Political Liberalism ◽  
Adam Smith ◽  
The State ◽  
Invisible Hand ◽  
Neutral Model ◽  
Overlapping Consensus ◽  
End Of History ◽  
The End Of History ◽  
The Invisible

I criticize the liberal foundations of democracy on two counts: (1) the impossible defense of a "neutral" model of the state; and (2) the individualist foundation of its moral and political philosophy. I suggest as well that political liberalism reduces the emancipatory chances of the democratic project by pursuing the goal of Hobbes. Leviathan-that is, by seeking to establish a well-ordered society that endorses an overlapping consensus favoring the ruling classes. The guiding dictum of the "demoliberal" theory seems to be-to paraphrase Adam Smith and Hegel-the invisible hand which regulates the market is the cunning reason of democracy, or, the key of its governability. Are we approaching the end of history as longed for by Fukuyama? I will analyze the premises which sustain his thesis.

The Essence of Natural Rent and the Implementation of the Principles of Rental Taxation in the Interests of Increasing the Stimulating Effect of the Tax Mechanism and Strengthening the Economic Security of the State

2021 ◽  
pp. 76-86
Author(s):  
Mikhail V. Palt ◽  
◽  
Sergey V. Chernyavskiy ◽  
Keyword(s):  
Adam Smith ◽  
Economic Security ◽  
Climatic Conditions ◽  
The State ◽  
Capital Investments ◽  
Land Rent ◽  
Land Plot ◽  
Income Sources ◽  
David Ricardo ◽  
Excess Profit

The article analyzes and develops the theoretical views on the category of natural rent in the works of Adam Smith (income exceeding all reasonable costs plus the average profit typical for a given area), David Ricardo (income from the initial and indestructible forces of the soil, the other part of it is paid for the use of capital that was used to improve the quality of the soil and for the construction of buildings), and other economists from land rent (income due to differences in the location and fertility of land) to differential rent II (rental income from additional capital investments) and quasi-rent (rent of machines and equipment), etc. David Ricardo formulated the conditions for the formation and receipt of land rent (lands differ in their location and in their fertility; the number and area of plots that are best in terms of these parameters are limited; lands are privately owned). In turn, Alfred Marshall noted that land rent does not appear as an exclusive phenomenon, but only as one of income sources, among similar ones. In modern conditions, the understanding of rental income is reduced to its interpretation as a profit above the average normal level, that is, excess profit. However, when considering rent as excess profit, the determination of its size is based on a comparison of indicators such as actual and normal profitability rather than land fertility or differences in the depth of occurrence and other natural mining conditions compared with the worst land plot or deposit, and also minerals. The location of land plots, as one of the factors of land productivity affecting land rent, laid the foundation for research in the field of the theory of the location of productive forces. Therefore, in relation to natural (mining) rent, it is necessary to be guided by the classical understanding of it, as income due to objective differences in natural or climatic conditions of agricultural production or subsoil use in comparison with the trailing land plot or deposit. In these conditions, receiving natural rent as income independent of the efforts of the subsoil user (excessive/unearned profit) in favor of the owner of the subsoil, the state, increases the stimulating effect of the tax mechanism in agriculture and the extractive sector of the economy, the efficiency of production and the economy as a whole, and strengthens the national and economic security of the state.

Sign in / Sign up

Export Citation Format

Share Document