The End of ‘Laissez-faire’?

Luca Einaudi, Riccardo Faucci and Roberto Marchionatti

Chapter 5 in Luigi Einaudi, 2006, pp 80-84 from Palgrave Macmillan

Abstract: Abstract The earliest written expression of the maxim of laissez-nous faire, attributed by tradition to the merchant Legendre in response to a question by Colbert, dates back to around 1751 in the Journal Oeconomique of the Marquis d’Argenson: ‘Pour gouverner mieux, il faudrait gouverner moins …La vraie cause de leur (de nos fabriques) declin, c’est la protection outrée qu’on leur accorde … Laissez-faire, telle devrait être la devise de toute puissance publique, depuis que le monde est civilisé … Laissez-faire, morbleu! Laissez-faire!!’† After d’Argenson, the phrase became current in economic debates but it had a difficult time making its way into the economic literature. The tradition associating it with the Physiocrats, and especially with V. de Gournay and Quesnay, finds little support in their writings. The phrase ‘laissez-faire’ is not to be found in the works of Adam Smith, or Ricardo, or Malthus. Even the idea contained in the phrase is not present in a dogmatic form in any of these authors.

Keywords: Public Body; Economic Debate; Practical Rule; Civilise World; Autonomous Body (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52297-8_6

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DOI: 10.1057/9780230522978_6

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