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Published online by Cambridge University Press: 07 November 2014
The purpose of this paper is to present a review of French economic thought. It has, however, definite limitations as to content and scope. First of all, it is restricted to the field of economic theory, because it was simply impossible to cover the other subjects of economic science. It is also limited in its scope, since many economists are not even mentioned. It deals especially with the contributions which, although not widely known, are important in the development of economic theory. Going beyond a simple restatement of the theories as originally expounded by their authors, it seeks to stress points of real interest for us. The following analysis is also purely descriptive; scarcely any criticism will be made of the works reviewed. Finally, in order to avoid subjectivism, which is always possible in essays of this kind, we will use the method of quoting abundantly from the original sources, a method less brilliant, perhaps, than summarizing but certainly more objective, offering, as it does, more direct contact with the authors themselves.
French contributions to modern economic theory may be viewed as a long cycle containing several phases. The first phase, extending from the Physiocrats to Walras, is marked by important developments which are at the origin of all the modern schools of thought. The second phase, which the outbreak of the Second World War brought to a close, is a period of decline; that downward movement can be explained, as we shall see, by several factors. Finally, many signs of revival have appeared in recent years.
This paper was presented at the annual meeting of the Canadian Political Science Association in Quebec, May 30, 1947.
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