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A.-R.-J. Turgot on a General Market: Competition, Price and History

Jose Menudo ()

No 07.07, Working Papers from Universidad Pablo de Olavide, Department of Economics

Abstract: The purpose of this paper is to re-examine the notion of price determination in A.-R.-J. Turgot’s writings. Consideration is given to the evolution of the concept of market during the 18th century. It is argued that Turgot provided a model of multiple exchanges with merchants, called General market, in order to tackle economic problems, as is the market integration, price stability and the hoarding of capital. Further, we demonstrate how a uniform price, which is kept constantly, required that Turgot made use of theoretical tools from other disciplines.

Keywords: Turgot; Equilibrium and Disequilibrium; price formation; Information and Knowledge. (search for similar items in EconPapers)
JEL-codes: B1 B41 D50 D83 L11 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2007-05
New Economics Papers: this item is included in nep-his, nep-hpe, nep-knm and nep-mic
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http://www.upo.es/serv/bib/wps/econ0707.pdf First version, 2007 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pab:wpaper:07.07

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