A.-R.-J. Turgot on a General Market: Competition, Price and History
AbstractThe 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 market integration, price stability and the hoarding of capital. Further, we demonstrate how a uniform price, which is kept constantly, required that Turgot made use of theoretical tools from other disciplines.
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Bibliographic InfoPaper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 07.07.
Length: 26 pages
Date of creation: May 2007
Date of revision:
Turgot; Equilibrium and Disequilibrium; price formation; Information and Knowledge.;
Find related papers by JEL classification:
- B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-12 (All new papers)
- NEP-HIS-2007-05-12 (Business, Economic & Financial History)
- NEP-HPE-2007-05-12 (History & Philosophy of Economics)
- NEP-KNM-2007-05-12 (Knowledge Management & Knowledge Economy)
- NEP-MIC-2007-05-12 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Brewer, Anthony A, 1987. "Turgot: Founder of Classical Economics," Economica, London School of Economics and Political Science, vol. 54(216), pages 417-28, November.
- Brian J. Loasby, 2001. "Time, knowledge and evolutionary dynamics: why connections matter," Journal of Evolutionary Economics, Springer, vol. 11(4), pages 393-412.
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