The Law of Competition and the Law of Circulation

R. A. Rayman

Chapter 1 in A Multi-Gear Strategy for Economic Recovery, 2013, pp 3-8 from Palgrave Macmillan

Abstract: Abstract In the writings of the predecessors of Adam Smith, it is possible to distinguish two basic laws of economics: the Law of Competition and the Law of Circulation. Both laws are well established in the “maxims” of the Physiocrats1 who receive a highly favourable mention from the “father of economics”: They have for some years past made a pretty considerable sect, distinguished in the French republic of letters by the name of, The Œconomists” [Smith (1776) vol.II, p. 176]

Keywords: Natural Rate; Frictional Resistance; Structural Reform; Annual Percentage Change; Credit Crunch (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-1-137-30452-0_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137304520

DOI: 10.1057/9781137304520_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().