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Countervailing Powers

The Political Economy of Market, before and after Adam Smith

Authors: Rosolino, Riccardo

  • Traces the history of the theories applying the principle of fighting fire with fire to market dynamics
  • Illustrates the relevance of recourse to the right of resistance for conceiving the self-sufficiency of the market
  • Focuses on the moral and political solution of letting monopolistic conspiracies neutralise each other
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  • ISBN 978-3-030-37802-8
  • Digitally watermarked, DRM-free
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Hardcover ca. 99,99 €
price for India (gross)
  • Due: May 9, 2020
  • ISBN 978-3-030-37801-1
  • Free shipping for individuals worldwide
About this book

This book will trace the trajectory of the surprising idea that the victims of monopolistic conspiracies should be allowed to fight back using the same fraudulent and immoral weapons as the conspirators. In other words, if left to itself, the market will produce the antibodies necessary to survival, notwithstanding its most sinister pathology – the tendency of its principals to conclude private agreements behind the scenes.

Originally conceived in a moral context halfway through the 16th century, the idea was then taken over by the world of commercial law in exactly the form it had been employed theologically. Surprisingly, though, after doing the rounds for over a century, it then disappeared without trace.  This book will look at how Adam Smith revived and recharged the idea. He applied it in The Wealth of Nations (1776) to the conflict of interest between employers and workers in the attempt to break the stranglehold of the artificial compression of wages to minimum subsistence level. After Smith, the freshly revived idea went underground again for another half-century until, in the 1820s, it assumed a front-row position in the newborn liberal political economics. This book will look at how, in the framework of the debate over the repeal of the Combination Laws, the idea was dusted down and put back in the fight, having first been stripped it off its moral clothes and dressed instead in the new robes of economic pragmatism.

About the authors

Riccardo Rosolino is Associate Professor of Modern History at the University of Naples  "L'Orientale",  Department of Human and Social Science, Italy.

Buy this book

eBook  
  • ISBN 978-3-030-37802-8
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
Hardcover ca. 99,99 €
price for India (gross)
  • Due: May 9, 2020
  • ISBN 978-3-030-37801-1
  • Free shipping for individuals worldwide
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Bibliographic Information

Bibliographic Information
Book Title
Countervailing Powers
Book Subtitle
The Political Economy of Market, before and after Adam Smith
Authors
Copyright
2020
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-37802-8
DOI
10.1007/978-3-030-37802-8
Hardcover ISBN
978-3-030-37801-1
Edition Number
1
Number of Pages
VIII, 157
Topics