| Titre | Adam Smith et la Pennsylvanie : la main invisible et les ailes dédaliennes du papier monnaie | |
|---|---|---|
| Auteur | Michel Rosier | |
 |
Revue | Cahiers d'économie politique |
| Numéro | no 27-28, automne 1996-printemps 1997 Le libéralisme à l'épreuve : de l'empire aux nations. (Adam Smith et l'économie coloniale) | |
| Page | 89-111 | |
| Résumé anglais |
Abstract : Adam Smith and the Pennsylvany : the Invisible Hand and the Deadalian Wings of Paper Money
The British colonies of North America, and especially Pennsylvany, appear to be a crucial theoretical topic in The Wealth of Nations. Their expe- rience confutes the basic thesis of mercantilism : have they not been growing very rapidly with a negative balance of commerce ? Analysing Smith's argumentation on this point leads to an interpration of Smith's theory, which is at variance with the one traditionnaly held by historians of economic thought. First, the « invisible hand » has nothing to do with the market mecanism. It manifests its effects through two propensities participating of human nature. If institutions or policies, as the ones achieved by mercantilisme in Europe, do not counteract these two propensities, then a nation follows the « natural course of things », as America does. Second, all the systems of paper money are good, though « deadalian », in the sense that they have to be managed by deadalian technicians. Regarding the European circumstances, Smith advocates the rule that compels the banks to pay their notes in gold. But, concerning America, he does not condemn banking systems formed of only one state bank, without any kind of gold reserve. Source : Éditeur (via Persée) |
|
| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1996_num_27_1_1197 |
