W. F. Lloyd and Socialism: A Note

Geoffrey N Gilbert

Australian Economic Papers, 1986, vol. 25, issue 46, 144-46

Abstract: The question has been raised whether, in the writings of English classical economist W. F. Llo yd (1794-1852), there are "foreshadowings of socialist thought." Textual evidence has been produced on both sides of the issue. This note cites evidence previously overlooked and finds Lloyd highly skeptical toward "systems of equality" on three grounds: lack of work incentives, waste of resources, and tendency to ward overpopulation. Lloyd's 1837 critique of the equalitarian principle, though condensed and abstract, is actually more encompassing than that of his better known predecessor, Malthus. Copyright 1986 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1986
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