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The Debate on Economic and Social Security in the Late Eighteenth Century: Lessons ofa Road Not Taken
Author(s) -
Rothschild Emma
Publication year - 1996
Publication title -
development and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.267
H-Index - 93
eISSN - 1467-7660
pISSN - 0012-155X
DOI - 10.1111/j.1467-7660.1996.tb00593.x
Subject(s) - condorcet method , disadvantaged , social security , laissez faire , faith , relation (database) , adam smith , politics , economic thought , economics , sociology , political economy , neoclassical economics , political science , economic growth , law , market economy , epistemology , philosophy , database , voting , computer science
The laissez faire political economy of the late eighteenth century was marked by two sharply opposing views of the relation between social security or insecurity and economic growth: one associated with Adam Smith, Turgot and Condorcet; and another associated with Malthus. The latter school, with its faith in the motivating force of insecurity and fear, has been the more influential in subsequent economic thought. But, contrary to prevailing neoliberal stereotypes, Smith, Turgot and Condorcet had much to say to modern students of economics concerning the necessary and positive relationship between social security and economic development. This essay explores their vision of how to improve the life chances of the disadvantaged.