An economic theory of economic analysis: the case of the School of Salamanca

Clara Jace ()
Additional contact information
Clara Jace: George Mason University

Public Choice, 2019, vol. 181, issue 3, No 9, 375-397

Abstract: Abstract The School of Salamanca often is identified as the first economic tradition in the history of the “dismal science”. Its members anticipated principles later developed by the likes of Adam Smith and Carl Menger. This paper provides an economic theory of the production of economic analysis by the Doctors of Salamanca, beginning from the observation that producers of economic analysis respond to incentives the same way producers of meat, beer, or bread do. Historically, the demand for economic analysis arises from two sources: governments and interest groups. I argue that the changes in international trade associated with the emergence of new transatlantic markets in the sixteenth century led to an increase in the demand for economic analysis by Spanish merchants and that the contribution of the School of Salamanca was grounded in the predictable supply response to those fresh incentives.

Keywords: School of Salamanca; Supply and demand of economics; History of economic thought (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s11127-019-00662-y Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:pubcho:v:181:y:2019:i:3:d:10.1007_s11127-019-00662-y

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11127/PS2

DOI: 10.1007/s11127-019-00662-y

Access Statistics for this article

Public Choice is currently edited by WIlliam F. Shughart II

More articles in Public Choice from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().