Abstract
In the writings of the predecessors of Adam Smith, it is possible to distinguish two basic laws of economics: the Law of Competition and the Law of Circulation. Both laws are well established in the “maxims” of the Physiocrats1 who receive a highly favourable mention from the “father of economics”:
They have for some years past made a pretty considerable sect, distinguished in the French republic of letters by the name of, The Œconomists”
[Smith (1776) vol.II, p. 176]
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© 2013 Robert Anthony Rayman
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Rayman, R.A. (2013). The Law of Competition and the Law of Circulation. In: A Multi-Gear Strategy for Economic Recovery. Palgrave Macmillan, London. https://doi.org/10.1057/9781137304520_1
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DOI: https://doi.org/10.1057/9781137304520_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-45371-9
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