Jose Manuel Menudo

Pablo de Olavide University | UPO · Department of Economics

This paper examines the influence of the French liberal school in the formation of the Andean republics-Ecuador, Colombia, Peru, and Chile. Our primary focus lies on the teaching of political economy during the last two thirds of the 19 th century. Our scrutiny to the chairs of political economy and a text mining analysis of their textbooks allows...

Standard models of the price specie flow do not consider credit. Yet Hume and preceding authors were reacting to the implosion of Law’s financial bubble. We delineate the anti-credit thesis contained within the evolution of eighteenth-century balance of payments analyses. A string of eighteenth-century authors argued over whether the balance of pay...

Originario de Jatiel, José Manuel Pellicer García emigra para participar, entre las décadas de 1780 y 1800, en un período de efervescencia de centros académicos donde compartir y enseñar los avances en todo tipo de disciplinas. Como autodidacta en hidráulica y astronomía, este eclesiástico hizo uso de un conocimiento práctico para realizar numerosa...

Este trabajo se enmarca en la recepción de las ideas económicas en la actividad parlamentaria española. En concreto, analizamos la irrupción de la Economía política en el debate sobre la Ley de conversión de la deuda pública de 1844, donde su discurso se confronta con otras visiones de la deuda pública. Encontramos que los parlamentarios emplean al...

Since mercantilism often has been re-formulated, it seems necessary to examine the earliest French constructions—i.e., Quesnay’s système des marchands, Mirabeau’s système d’intérêt exclusif and Turgot’s système de monopole—which have not been analysed as extensively as Smith's mercantile system. We demonstrate that these systems differ greatly in a...

This paper examines James Steuart’s explanation of the relationship between banking system and economic development. Unlike other Scottish thinkers of the time, Steuart argues that the origin of commercial nations was not, in his view, a consequence of human nature and a long period of historical evolution. The establishment of the system of trade...

René-Louis de Girardin is remembered for having invited Rousseau to hisErmenonville estate. Girardin believed it necessary to further the debate on gardens on the basis of a principle of continuity that rejects any idea of enclosure. This made it possible to establish an agricultural model that increased production and finally allowed the monopoly...

This article examines how Robert Owen’s ideas, and the example of his New Lanark Mill, were understood and received in Spain in the nineteenth century. It follows recent historiographic trends in the history of early Spanish socialism to show that although Owen’s ideas could not have a decisive impact in a largely agricultural economy and society,...

We consider a dynamic input output model that represents important aspects of Richard Cantillon’s discussion of economic structure and market dynamics. Merchants and inventories determine prices that diverge from (longer run) equilibrium. We contrast this stable formulation of price determination with an unstable benchmark specification in which va...

Reseña del libro de Estrella Trincado y Manuel Santos-Redondo, Economics, Entrepreneurship and Utopia: The Economics of Jeremy Bentham and Robert Owen. Routledge. 2018. 198 páginas. ISBN: 978-03-67876-42-5.

James Steuart published An Inquiry into the Principles of Political Œconomy in 1767, the first systematic treatise on economics, nine years before Adam Smith’s Wealth of Nations. Traditional historiography has tended to disregard and even deny Steuart’s oeuvre, categorizing him as the last, outdated advocate of mercantilist policies in Britain. A...

En 1803, Say examine les relations commerciales entre l’Angleterre et le Brésil. Le pays sud-américain ne peut qu’acheter des produits anglais s’il est capable de vendre des produits en Angleterre pour obtenir les livres sterling. À partir de là, Say avance un ensemble d’idées quand il analyse les relations entre la production et la demande de bien...

Jean-Baptiste Say’s Traité d’économie politique made a profound impact on Spain in the 19th century due to its prominent influence on parliamentary debate and teaching. Probably due to the success achieved in Spain and the numerous editions and translations into Spanish, certain confusion is perceived in the literature. The aim of this article is t...

This study approaches the use of the market within the framework of economic sciences in order to explain entrepreneurial activity. A variety of models and accounts taken from the history of economic analysis are presented. The few suggestions from those that proposed it, Jean-Baptiste Say, Alfred Marshall, and Frank Knight, will be examined. First...

This paper examines James Steuart’s explanation of the emergence of commercial nations. Unlike other Scottish thinkers of the time, Steuart argues that artifice is necessary for the rise of commercial societies. He uses the term “artificial” to refer to a devised process, one that is an alternative to the supposedly natural process arising from inn...

Condorcet in Spain: about a MS translation of Esquisse In 1799, a translation into Spanish of Condorcet’s Esquisse d’un tableau historique des progrès de l’esprit humain (1795) is attributed to one « D. J. de la C. Y. C ». This very early translation (a rare one-year gap between the publication and its Spanish version), entitled Bosquejo de un cuad...

This paper examines the use of the hunting, pasturage, agriculture and commerce sequence in the writings of Turgot, Steuart and Smith. We found explanations which were identical in the pre-eminence of the productive forces and economic organisation, despite that fact, these theories are significantly different. This paper presents three distinct dy...

This article transcripts and comments on two letters by Adam Smith, and two letters by his correspondent Joseph Nicolas de Windischgrätz. These letters belong to a rather rich and lengthy exchange—which would end at the beginning of 1788—composed of at least sixteen pieces. As with the rest of the correspondence between them, the letters published...

Este trabajo pretende explicar qué entiende A.-R.-J. Turgot por ciencia económica. Para ello emplearemos sus textos sobre metodología científica, historia de la ciencia y epistemología, elaborados principalmente en la década de los cincuenta. En primer lugar, concluimos que la taxonomía de las ciencias es un mecanismo para expresar las formas que l...

J.-B. Say’s theory of economic development culminates in the industrious nation, and is a touchstone for Spanish authors situating the nation within the context of European economic development. This article presents his interpretation of the case of Spain. Included amongst the «badly civilized» countries, Spanish institutions prevented industrial...

This paper transcribes and annotates five unpublished letters that Manuel María Gutiérrez, Álvaro Flórez Estrada and the Marquis of Valle Santoro respectively sent to Jean-Baptiste Say. An initial hypothesis holds the importance of this correspondence in order to argue the connection of the Spanish authors with the canonical works. We focus on seve...

La correspondencia de los españoles con los autores de las obras canónicas de la Economía supone una fuente para estudiar la circulación de las ideas y situar de forma más clara el lugar de la ciencia económica en España durante la primera mitad del siglo XIX. La relación epistolar con Jeremy Bentham y Jean-Baptiste Say, ambos principales protagoni...

This work examines the theory of price determination in Sir James Steuart, with a particular focus on the problem of market stability. The paper proposes a scheme of analysis in keeping with a view of exchange significantly different from classical and neoclassical theories — Steuart’s framework does not abstract money, merchant or state; price det...

A proposal to introduce the entrepreneur into economic theory sets out to treat his economic performance as a production factor. It considers that the activity of entrepreneurs, their link to different productive actions and their economic payment are subjected to the same laws as any other factor ― i.e., the laws of the functioning of competitive...

J.-B. Say's theory of economic development culminates in the industrious nation, and is a touchstone for Spanish authors situating the nation within the context of European economic development. This article presents his interpretation of the case of Spain. Included amongst the badly civilized countries, Spanish institutions prevented industrial po...

This paper examines A.R.J. Turgot’s explanation of the scope and method of economic science. We begin by highlighting two contradictory economic methodologies in Turgot’s writings according to the literature: one in his text on progress and another in his papers on concrete economic matters. An initial hypothesis in this paper holds that this ‘cont...

This work analyses the particular and repeated attempt to introduce the entrepreneur into economic activity through the market for entrepreneurs. We shall examine the few suggestions ― Richard Cantillon, Jean-Baptiste Say, Alfred Marshall and Frank Knight ― that propose it. The analysis of the writings of these authors enables us to draw relevant c...

Nous nous proposons ici de publier ces deux pièces. un projet de lettre ostensible consacrée aux physiocrates et à Colbert. Rédigé à la fin du mois de juin 1777, ce document accompagnait initialement une lettre adressée à Jean-Baptiste Suard, aujourd’hui conservée dans la ville natale de Condorcet, Ribemont, en Picardie. La lettre ostensible de Con...

Jean-Baptiste Say and the Entrepreneurial Capabilities for Industrialization In Jean-Baptiste Say’s economic thought, a productive fund of industrial capabilities generates the emergence of entrepreneurs, workers and scholars. However, success only ensues from the exercise of entrepreneurial capabilities. This article analyzes several classificatio...

This work analyses the particular and repeated attempt to introduce the entrepreneur into economic activity through the market for entrepreneurs. We shall examine the few suggestions ? Richard Cantillon, Jean-Baptiste Say, Alfred Marshall and Frank Knight ? that propose it. The analysis of the writings of these authors enables us to draw relevant c...

For Sir James Steuart, imbalances in the “commercial system” cannot be independent of moral connotation; indeed, they are a problem precisely because of the abuse they entail. Initially, this article starts out by demonstrating that Steuart tackles the question of justice by rejecting certain principles obtained from the private or public virtues o...

This paper examines Adam Smith's explanation of the stability of a competitive market. An initial hypothesis in the paper holds that the mechanism described in The Wealth of Nations has nothing to do with production costs, longterm, or sympathetic relationships. My proposal draws on the literature that evokes the decisive influence, acknowledged by...

José M. Menudo presents, in the fourth chapter, some eighteenth-century forerunners of modern economics who contributed to the crowding out of money from economic theory. During the eighteenth century, money was removed from the most important theories of price determination. Adam Smith’s argument for change is a new concept of wealth: a participan...

This paper examines Adam Smith's explanation of the stability of a competitive market. An initial hypothesis in the paper holds that the mechanism described in The Wealth of Nations has nothing to do with production costs, longterm, or sympathetic relationships. My proposal draws on the literature that evokes the decisive influence, acknowledged by...

This paper analyses one of Turgot’s first economic essays, Plan d´un ouvrage sur le commerce, la circulation et l´intérêt de l´argent, la richesse des états (1753-4). Written prior to the appearance of physiocratic influence, it is Turgot’s contribution to the movement of writing that bubbled up around the general issue of the market as mechanism o...

The required tools for the analysis of the entrepreneur and their economic actions are absence and some confusion does exist which impedes theoretical development and empirical testing. The aim of this article is to set out a collection of analytical tools which in turn makes it difficult to draw-up economic policy used to foster entrepreneurship....

This volume provides a comprehensive review of the theoretical concepts and empirical models of entrepreneurship from a non-conventional perspective. Its main purpose is to contribute to the design of an efficient system of indicators of entrepreneurship and competitiveness. The existence of a gap between the theory of entrepreneurship and the meth...

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 m...

En este trabajo se analiza el pensamiento económico en España durante las primeras décadas del siglo XIX. Presentamos el modelo de crecimiento económico elaborado por Gonzalo de Luna. Para ello tratamos los instrumentos teóricos introducidos por el autor como una revisión constructiva del pensamiento de Adam Smith. Esta recopilación nos permitirá e...

This paper deals with the French economic thought throughout the eighteenth and nineteenth centuries. A series of distinctive concepts were developed to come to a clear understanding of the economic problems which the French authors were interested in. J.A. Schumpeter called these economists 'the French tradition'. The arguments presented in this p...

Exxon Mobil and ConocoPhillips stock price has been predicted using the difference between core and headline CPI in the United States. Linear trends in the CPI difference allow accurate prediction of the prices at a five to ten-year horizon.

RESUMEN Este trabajo analiza la difusión de la teoria del empresario de Jean-Baptiste Say en España, como último eslabón de una línea de pensamiento que tiene su origen en Richard Cantillon. Se prueba que la particularidad de este autor es su gran difusión en el siglo XIX español –siendo uno de los más traducidos– y la escasa influencia de su teorí...