'Nil repente !': Galiani and Necker on Economic Reforms

Gilbert Faccarello

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Abstract: The problem of the transition to a market economy provoked a lasting and important debate in eighteenth-century France. The climax was reached during the 1760s and the 1770s with the two important pre-revolutionary attempts, in 1763-64 and 1774a-76, to liberalize the French economy and, initially, the grain market. During these controversies, the reformers' camp clearly split into two groups - the so-called 'moderates' and the alleged enthousiastes - which were apparently in deep disagreement as to the strategy to adopt in such circumstances. Among the 'moderates', two authors especially are of great interest: Ferdinando Galiani and Jacques Necker, who crystallized and developed the ideas of their camp to promote a strategy of prudence. This paper analyses their arguments on the issue at stake: the objectives and methods of a transition to a market economy. The historical and intellectual context of the debate is first briefly restated and the basic theoretical tenets of Galiani's and Necker's critique are then outlined. The various obstacles which, in our author's opinion, were likely to come from the opponents to a transition to a market economy or from its proponents are analysed, and Galiani's and Necker's main ideas on the best way to achieve successful reforms are stressed. Some provisional conclusions are drawn at the end.

Keywords: Galiani; Necker; Quesnay; Turgot; economic reforms; free trade; French political economy; 18th Century economics (search for similar items in EconPapers)
Date: 1994
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Citations: View citations in EconPapers (4)

Published in European Journal of the History of Economic Thought, 1994, 1 (3), pp.519-550

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00743020

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