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Conclusion
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The conclusion draws on the book’s key themes to revisit models of the policy process in early modern Europe, particularly that of rent-seeking as understood by public choice economists. It shows that the fight against monopoly was co-constituted with the origins of a science of commerce during the Enlightenment. If the mercantilist state of the Ancien Régime was an outgrowth of a rent-seeking society, it was because the rent-seekers themselves enjoyed a monopoly on economic expertise until the eighteenth century. The new science of economics did not expel local merchants from regime counsels as much as reformers might have desired, however. It gave merchants a powerful rhetorical arsenal concerning economic liberty that helped secure localities from unwanted interference by the central government.
Title: Conclusion
Description:
The conclusion draws on the book’s key themes to revisit models of the policy process in early modern Europe, particularly that of rent-seeking as understood by public choice economists.
It shows that the fight against monopoly was co-constituted with the origins of a science of commerce during the Enlightenment.
If the mercantilist state of the Ancien Régime was an outgrowth of a rent-seeking society, it was because the rent-seekers themselves enjoyed a monopoly on economic expertise until the eighteenth century.
The new science of economics did not expel local merchants from regime counsels as much as reformers might have desired, however.
It gave merchants a powerful rhetorical arsenal concerning economic liberty that helped secure localities from unwanted interference by the central government.
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