Isaac Newton and Economics

James E. Sawyer
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James E. Sawyer: Seattle University

Chapter 2 in Why Reaganomics and Keynesian Economics Failed, 1987, pp 13-36 from Palgrave Macmillan

Abstract: Abstract Laissez-faire is the doctrine popularized by Adam Smith, the Scottish philosopher who wrote the Wealth of Nations in 1776. Literally interpreted, it means ‘to let it be or to let go’. The eighteenth century was characterized by the rise of strong nation states in Western Europe. Within the context of the economic and political environment in which Smith lived, laissez-faire was an argument for keeping government out of the affairs of commerce.

Keywords: Interest Rate; National Income; Full Employment; Household Saving; Marginal Propensity (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09497-4_2

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DOI: 10.1007/978-1-349-09497-4_2

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