Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

Daastöl, Arno Mong --- "Friedrich List (1789–1846)" [2005] ELECD 170; in Backhaus, G. Jürgen (ed), "The Elgar Companion to Law and Economics, Second Edition" (Edward Elgar Publishing, 2005)

Book Title: The Elgar Companion to Law and Economics, Second Edition

Editor(s): Backhaus, G. Jürgen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845420321

Section: Chapter 46

Section Title: Friedrich List (1789–1846)

Author(s): Daastöl, Arno Mong

Number of pages: 17

Extract:

46 Friedrich List (1789­1846)
Arno Mong Daastöl


Introduction
Friedrich List was one of the earliest and most severe critics of the Classical
school of economics, the tradition of the Physiocrats and Adam Smith. His
theoretical system is an empirically oriented system, in the sense that he
claimed it to be based on historical experience. It is none the less logical and
therefore coherent. List is generally known as a proponent of a protectionist,
nationalist economic policy and of railroad construction in the early nine-
teenth century. This is only correct from a superficial point of view, as his
fundamental ideas were far wider reaching, dealing with questions such as
the ultimate and immaterial basis of economics and of civilization, within a
dynamic long-term, global perspective.
List agreed with Smith on the desirability of global free trade. He claimed,
however, that instant and radical free trade would lead to a monopoly under
the strongest nation, technologically and economically. Other nations there-
fore had to be lifted up to the level of the leading nation in order to promote
the potential wealth of the individual developing nations as well as the global
common good. This had to be done gradually through legal and regulatory
arrangements nationally and internationally. This would involve, among other
instruments, limited and differentiated protection at home and international
legal agreements.
List may even be a greater free trader than his main adversary, Adam
Smith, in the sense that List's strategy would promote long-term ...