IDEAS home Printed from
   My bibliography  Save this article

A Liberal Economist and Economic Policy Reform in Nineteenth-Century Greece: The Case of Ioannes Soutsos


  • Michalis M. Psalidopoulos
  • Yorgos Stassinopoulos


This paper analyses the critique of Ioannes Soutsos (1804–1890), the first academic economist of modern Greece, toward priorities, weaknesses and shortcomings of Greek economic policy of the 19th century. Emphasis is laid in his interventions in 1843 (when the first constitution was introduced), in 1863 (when a new king was appointed as head of the country) and in 1876-9 (when foreign lending was resumed after a long financial embargo against Greece). These interventions reveal a liberal economist who was a precursor in what is today known as constitutional economics, who stressed the role of efficient institutions for the promotion of economic development and favored sound public finance as a basis for a strong currency and a prerequisite of growth. The paper puts Soutsos' economic policy recommendations against his theoretical formation as an economist, and examines his views on methodology and the influences Pellegino Rossi and Jean-Baptiste Say exerted in his thought and writings. In this context European economic liberalism of the 19th century is revisited and the question about its relevance for the new-born states of South-Eastern Europe, where nationalism was a major ideological current, requiring a financially strong state, is examined.

Suggested Citation

  • Michalis M. Psalidopoulos & Yorgos Stassinopoulos, 2009. "A Liberal Economist and Economic Policy Reform in Nineteenth-Century Greece: The Case of Ioannes Soutsos," History of Political Economy, Duke University Press, vol. 41(3), pages 491-517, Fall.
  • Handle: RePEc:hop:hopeec:v:41:y:2009:i:3:p:491-517

    Download full text from publisher

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Michalis M. Psalidopoulos & Nicholas J. Theocarakis, 2011. "The Dissemination of Economic Thought in South-Eastern Europe in the Nineteenth Century," Chapters,in: The Dissemination of Economic Ideas, chapter 7 Edward Elgar Publishing.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hop:hopeec:v:41:y:2009:i:3:p:491-517. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for the History of Political Economy Webmaster). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.