French Influences on British Economics: Unveiling the Origins of Modern Economics
The article explores the development of economics in the 18th century, focusing on key figures like Turgot, Beccaria, and Smith. It discusses the emergence of economics as a science and the influences of French thinkers on British economics. The debate on automation's impact on employment and the concept of subsistence wage are also examined. The Physiocrats' contributions to scientific economics and the idea of laissez-faire are highlighted. Turgot's theories on value, exchange, and interest are re-evaluated, with comparisons to Adam Smith's ideas on the division of labor and economic progress. The research sheds light on the origins of modern economics and the evolution of economic thought during this period.