The National System Of Political Economy

One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. In Volume 2, he delineates his theory of supportive interconnectedness, discussing everything from the value of the individual's ability to produce wealth to the edge established businesses have over new ones. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).

The importance of this book, translated for the first time in 1983, lies not so much in List’s advocacy of the fiscal policy of protection as in the relatively new doctrines that he put forward. He discussed stages of economic growth, ‘productive powers’ and the industrialisation of developing regions. List’s most fundamental teachings are fully developed in this book.

One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. Volume 1 examines the pronounced influence of freedom prudently balanced with regulation in the economic histories of the nations of Europe and North America. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).

Friedrich List was one of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith. In the three-volume National System of Political Economy, he explores a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. Presented here in one combined volume, List examines the pronounced influence of freedom prudently balanced with regulation in the economic histories of the nations of Europe and North America, delineates his theory of supportive interconnectedness, and explores the economic and political systems that nurture ascendant nations in their global sovereignty. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T�bingen, but was jailed and later exiled to America for his political views. He is also the author of Outlines of American Political Economy

Friedrich List is the father of economic nationalism and the historical school of economics. Responding to Adam Smith's free market apologetics, in The National System of Political Economy List provides a theoretical basis for state intervention in the economy. But he does much more than this-as part of a wider trend in European thought, List affirms the primacy of history in developing our worldview. The National System of Political Economy does not begin with theory, but with history. In so doing, List shows that England's rise as a commercial power was not facilitated by free markets but by protectionism, drawing his theory from historical fact rather than the other way around. List's avowed liberalism is overshadowed by his illiberal priors, and so the economic history of the 20th century was one of Listian principles being put to use by illiberal regimes such as Russia, China, and Germany. His thought also governed the economic policy of another developmental state for over a century-America. Smith and Marx formed the basis of 20th century economic theory. But Friedrich List stands as a colossus astride the 20th century, forming the basis of economic practice for all major powers until mid-century. In his introduction to this edition, Francis O'Beirne shows that the great economic clash has never been between capitalism and socialism, but between capitalism and nationalism, with Marxism a revolutionary force, but an economic irrelevancy.

In The National System of Political Economy, List provides a critique of the ideas of Adam Smith and David Ricardo that continues to resonate with policy makers concerned with industrial policy and national economic development. List argues that in contrast with the stylized view of classical economics, real-world economies are organized along national lines and that policy makers can ignore this reality to their peril. The benefits from trade are conditional, rather than universal and the development of sophisticated industry requires carefully designed and sequentially planned state interventions. List provides an early recognition of the existence of distinct stages of economic development, and of the interplay between military power, industrial development and national prosperity. List's work had a formative influence on contemporary strands of thought such as institutional economics and 'national systems of innovation' perspectives and is considered an exemplary of work in the tradition of realist international political economy.

In all ages, nations and powers have striven to attain to the dominion of the world, but hitherto not one of them has erected its power on so broad a foundation [as industry, commerce, and navigation]. How vain do the efforts of those appear to us who have striven to found their universal dominion on military power... -from "Chapter 33: The Insular Supremacy and the Continental Powers-North America and France" One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. Volume 3 explores the economic and political systems that nurture ascendant nations in their global sovereignty. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).