Hunting the heffalump. Pre-smithian concepts of mercantilism in France

Abstract

Since mercantilism as an idea has been formulated and re-formulated, it seems necessary to examine the earliest French constructions—i.e., Quesnay’s système de marchands, Mirabeau’s système d’intérêt exclusif and Turgot’s système de monopole—which have not been analysed as extensively as Smith's mercantile system. We demonstrate that these systems differ greatly in all three cases, as do the intellectual references associated with mercantilism and the issue that gives rise to the appearance of the mercantile system. There is somewhat similarity in the principles of these systems, although the differences are so relevant that a synthesis of the three cases would be practically impossible.