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mercantilism." Steuart held that all profit arose from the seller "overcharging" the buyer in any single sales transaction. However, Steuart did allow that the "profit" obtained through exchange would "fluctuate" with the rise and/or fall in demand. Still like all good mercantilists, Steuart's eye remained on the exchange as the creator of profit and he recognized no value in a commodity before the sale.
967:
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The 3rd
Baronet of Goodtrees, the subject of this article, inherited his baronetcy and estates at the age of fourteen. He eventually acquired much of the possession of his cousins, the senior line of Steuarts. Sir Thomas Steuart of Coltness, had married twice: to Margaret Elliot, his step-mother's
424:
economy in general the art of providing for all the wants of a family, seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide every thing necessary for supplying the wants of the society, and to employ the
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in the Wealth of
Nations appear to have been mainly directed against Steuart. As Smith appears to have thought that Steuart's conversation was better than his book, he probably wished to keep clear of controversy with him. Steuart's book was received much more favourably a century later by the
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At the level of any individual sales transaction, mercantilism held that profit was developed at the point of the sale. Steuart held that profit was a mere "surcharge" upon alienation (sale) of the commodity. Steuart was not a pure mercantilist, however, he believed in a "scientific form of
539:
An
Inquiry into the Principles of Political Oeconomy: Being an Essay on the Science of Domestic Policy in Free Nations, in Which Are Particularly Considered Population, Agriculture, Trade, Industry, Money, Coin, Interest, Circulation, Banks, Exchange, Public Credit, and
663:
An
Inquiry into the Principles of Political Economy: Being an Essay on the Science of Domestic Policy in Free Nations, in which are Particularly Considered Population, Agriculture, Trade, Industry, Money, Coin, Interest, Circulation, Banks, Exchange, Public Credit, and
392:
For the last four years of his life, therefore, he was Sir James
Steuart Denham, Baronet, of Coltness and Westshield. His major book and his posthumous collected works were published as by Sir James Steuart; economic literature also calls him Sir James Steuart Denham.
218:
and author of "probably the first systematic treatise written in
English about economics" and the first book in English with 'political economy' in the title. He assumed the surname of Denham late in life; he inherited his cousin's baronetcy of Coltness in 1773.
385:. When Sir Archibald died, in 1773, the baronetcy of Coltness, and the Steuart property, passed to Sir James Steuart; the Denham title and property passed to the last heir of the Denhams, Sir Archibald's half-nephew on his mother's side, who took the style of
788:
says it was given to his son, the future
Solicitor General, in 1705, on the occasion of the son's marriage, in the father's lifetime. The chief significance of this question is the numbering of the baronets; it is not inconceivable that both grants
389:. When he died, three years later, in 1776, the Denham baronetcy became extinct; he also left his property, including the estate of Westshield, to Sir James Steuart, who then assumed the name of Denham, although he was not descended from.
48:
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on all imported wheat at the suggestion of mercantilist advisors. Debate over the corn laws would be harsh and would dominate the political discussion and occupy all
British governments until the corn laws were repealed in 1846.
783:
Reliable sources differ on when and to whom the
Goodtrees baronetcy was given. It was in honour of the Lord Advocate, but while the Oxford Dictionary of National Biography twice says it was conferred on him in 1695, the
456:
Mercantilism was the school of thought that held that a positive balance of trade was of primary importance for any nation and required a ban on the export of gold and silver. This theory led to high protective
517:
The Works, Political, Metaphysical and
Chronological, of the late Sir James Steuart of Coltness, Bart., now first collected, with Anecdotes of the Author, by his Son, General Sir James Denham Steuart
373:
The 3rd Baronet of Goodtrees, however, eventually sold the estate of Goodtrees after he returned from France. By that time, the last surviving son of Sir Thomas Steuart had inherited the
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of 1642-1660 and who died in 1681, having made enough money to purchase landed estates for his sons; three of those sons were prominent enough to have their families receive the title of
370:
and mansion (but not the title) of Coltness to 3rd Baronet of Goodtrees' father, in 1712. The 3rd Baronet of Goodtrees is, therefore, often called of Coltness, since it was his house.
461:
to maximize the use of domestic resources, colonial expansion and exclusivity of trade with those colonies. British attempts to follow the mercantilist ideas led to the four
341:, the fourth son; Sir Robert Steuart of Allandale, the youngest of the seven sons. The Lord Advocate, Sir James Steuart of Goodtrees, was his grandfather; his father, also
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inhabitants ... in such manner as naturally to create reciprocal relations and dependencies between them, so as to supply one another with reciprocal wants.
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and lived to be ninety-five; on his death, both baronetcies went to a cousin who died in 1851, since when they have been dormant.
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An Inquiry into the Principles of Political Oeconomy: Being An Essay on the Science of Domestic Policy in Free Nations, v. 1
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Steuart was descended from another Sir James Stewart, knight, an Edinburgh merchant and staunch Presbyterian, who supported
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The Principles of Money applied to the Present State ef Bengal, published at the request of the East India Company
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See page 16 in Willy MOOG: Hegel und die Hegelsche Schule. Published by Ernst Reinhard Verlag, Munich, 1930.
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recognized that book and wrote a comment about it in the year 1799. Although often regarded as part of the
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857:"Early British Economics: from the XIIth to the middle of the XVIIIth century". Frank Cass, London 1967
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never quotes or mentions Steuart's book, although he was acquainted with him. Moreover, the attacks on
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The book was the most complete and systematic survey of the science from the point of view of moderate
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of 1688. They were: Sir Thomas Steuart of Coltness, the first son; Sir James Steuart of Goodtrees,
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Plan for introducing Uniformity in Weights and Measures within the Limits of the British Empire
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Although the work appears to have been well received its impact was overshadowed by Smith's
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Steuart was one of the last representatives of the mercantilist school of economic thought.
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Apologie du sentiment de M. le Chevalier Newton sur l'ancienne chronologie des Grecs
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A Dissertation upon the Doctrine and Principles of Money applied to the German Coin
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814:. Oliver and Boyd for the Scottish Economic Society. pp. 91–93 and pp. 2–3.
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for any complicity he may have had in the rebellion. He died at his family seat,
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As quoted in Peter Groenwegen (1987 ), "'political economy' and 'economics',"
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Karl Marx, "Outlines of the Critique of Political Economy" contained in the
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which had appeared in England and indeed the first full-fledged economics
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for Scotland, and had fourteen sons by them. His eldest son had sold the
270:. He was in Edinburgh in 1745, and so compromised himself that, after the
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991:. Vol. 25 (11th ed.). Cambridge University Press. p. 904.
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473:. Additionally in 1815, Britain adopted the high tariff, called the
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A Dissertation concerning the Motive of Obedience to the Law of God
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This article incorporates text from a publication now in the
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453:, Steuart's economics hark back to the earlier Mercantilist era.
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949:, (2 vols.) ed. by A. Skinner for the Scottish Economic Society.
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he was admitted to the Scottish bar at the age of twenty-four.
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He married Lady Frances Wemyss (1722–1789), younger sister of
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Collected Works of Karl Marx and Frederick Engels: Volume 31
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Collected Works of Karl Marx and Frederick Engels: Volume 29
881:
Collected Works of Karl Marx and Frederick Engels: Volume 30
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Collected Works of Karl Marx and Frederick Engels: Volume 31
602:"Sir James Steuart Denham, 4th Baronet | Scottish economist"
210:; 21 October 1712 – 26 November 1780), also known as
193:
345:, was the eldest son of the Lord Advocate, and rose to be
879:
Karl Marx, "Theories of Surplus Value" contained in the
866:
Karl Marx, "Theories of Surplus Value" contained in the
262:
He then spent some years on the Continent, and while in
756:"Lady Frances Wemyss (1722–1789), Lady Steuart Denham"
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736:
420:' in the title, explaining usage of the term as that:
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daughter, and then to Susan Denham, the sister of Sir
928:
Before Adam Smith: the emergence of political economy
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An Inquiry into the Principles of Political Oeconomy
519:, were published in 6 vols 8vo in 1805. Besides the
202:
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An Inquiry into the Principles of Political Economy
883:(International Publishers: New York, 1988), p. 348.
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An Inquiry into the Principles of Political Economy
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An Inquiry into the Principles of Political Economy
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909:(International Publishers: New York, 1989) p. 605.
896:(International Publishers: New York, 1987) p. 163.
706:(online ed.). Oxford University Press. 2004.
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381:of Westshield through his mother, styling himself
870:(International Publishers: New York, 1989) p. 40.
406:Inquiry into the principles of political oeconomy
266:entered into relations with the Young Pretender,
437:to appear anywhere. Also the German philosopher
416:, the first book by a Scottish economist with '
1017:, book on marxists.org, and in two volumes at
301:(1744-1839), edited his father's works, was a
247:. His mother was Anne Dalrymple, daughter of
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960:Studies in the Theory of International Trade
377:from his father as well as the property and
945:Skinner, Andrew (1966) - "Introduction" in
831:: CS1 maint: numeric names: authors list (
818:The New Palgrave: A Dictionary of Economics
542:, ( 1770). Title page and chapter links, ,
175:Sir James Steuart, 3rd Baronet of Goodtrees
27:Scottish nobleman and economist (1712–1780)
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697:"James Steuart of Coltness and Westshield"
638:. The New Palgrave Dictionary of Economics
494:that was published only nine years later.
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31:
1241:Baronets in the Baronetage of Nova Scotia
954:Studies in the Theory of Money, 1690-1776
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667:. James Williams and Richard Moncrieffe.
572:Observations on Beattie's Essay on Truth
703:Oxford Dictionary of National Biography
593:
824:
253:Lord President of the Court of Session
1231:Alumni of the University of Edinburgh
560:A Dissertation on the Policy of Grain
383:Sir Archibald Steuart Denham, Baronet
293:, who played a prominent role in the
7:
1251:People of the Scottish Enlightenment
1236:Members of the Faculty of Advocates
1007:History of Economic Thought website
1003:Profile of Sir James Denham Steuart
808:Steuart ( 1966), Sir James (1770).
465:and the American colonials wars of
941:The economics of Sir James Steuart
922:Leigh Rayment's list of baronets
535:(4to, Frankfort-on-the-Main, 1757)
25:
935:Monetary theory before Adam Smith
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183:
1266:18th-century British economists
1216:Nobility from North Lanarkshire
505:Historical school of economics
347:Solicitor General for Scotland
233:Solicitor General for Scotland
229:Sir James Stewart, 1st Baronet
1:
1221:18th-century Scottish writers
905:See biographical note in the
636:www.dictionaryofeconomics.com
362:, 1st Baronet of Westshield,
255:. After graduating from the
227:He was one of 12 children of
933:Monroe, Arthur Eli (1923) -
926:Hutchison, Terence (1988) -
727:UK public library membership
1185:Philipp Wilhelm von Hornick
939:Sen, Samar Ranjan (1957) -
660:Steuart, Sir James (1770).
463:Anglo-Dutch navigation wars
387:Sir William Lockhart Denham
309:. He ended his career as a
214:, was a prominent Scottish
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952:Vickers, Douglas (1959) -
412:In 1767 Steuart published
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983:Steuart, Sir James Denham
798:ODNB, Complete Baronetage
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299:Sir James Steuart Denham
291:David Wemyss, Lord Elcho
212:Sir James Steuart Denham
166:David Wemyss, Lord Elcho
134:Sir James Steuart Denham
988:Encyclopædia Britannica
678:Stewart, James (1770).
610:Encyclopedia Britannica
257:University of Edinburgh
179:7th Baronet of Coltness
108:University of Edinburgh
1226:Writers from Edinburgh
958:Viner, Jacob (1937) -
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443:Scottish Enlightenment
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1155:Jean-Baptiste Colbert
712:10.1093/ref:odnb/7478
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305:, and Colonel of the
268:Charles Edward Stuart
1180:James Denham-Steuart
630:Groenewegen, Peter.
303:Member of Parliament
18:James Denham-Steuart
1256:Scottish economists
1057:James Seuart Denham
632:"Political Economy"
379:baronetcy of Denham
335:Glorious Revolution
125:Lady Frances Wemyss
1261:Scottish Jacobites
1175:Ferdinando Galiani
786:Complete Baronetcy
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375:Coltness baronetcy
364:Master of the Mint
272:battle of Culloden
249:Lord North Berwick
243:, and was born in
161:Lord North Berwick
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1135:Gerard de Malynes
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1019:Project Gutenberg
725:(Subscription or
491:Wealth of Nations
418:political economy
343:Sir James Steuart
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96:Lanarkshire
1200:Categories
1150:Jean Bodin
1145:Thomas Mun
1080:1727–1780
1051:1773–1780
729:required.)
584:References
496:Adam Smith
451:Adam Smith
447:David Hume
333:after the
327:Civil Wars
323:Charles II
237:Queen Anne
223:Early life
114:Occupation
98:, Scotland
62:1712-10-21
827:cite book
789:occurred.
769:31 August
760:artuk.org
717:31 August
642:31 August
615:31 August
475:corn laws
467:1776-1781
245:Edinburgh
152:Relatives
140:Parent(s)
117:Economist
70:Edinburgh
435:treatise
280:Coltness
276:pardoned
241:George I
216:Jacobite
130:Children
92:Coltness
74:Scotland
1072:Baronet
1043:Baronet
1005:at the
976::
916:Sources
855:M. Beer
521:Inquiry
459:tariffs
331:Baronet
311:General
970:
764:Art UK
723:
568:(1790)
562:(1783)
546:, and
529:(1758)
408:, 1767
368:estate
353:Titles
317:Family
251:, the
235:under
122:Spouse
664:Taxes
589:Notes
540:Taxes
439:Hegel
397:Works
282:, in
833:link
771:2017
719:2017
644:2017
617:2017
548:v. 1
544:v. 2
471:1812
469:and
449:and
264:Rome
239:and
177:and
81:Died
56:Born
985:".
708:doi
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829:}}
825:{{
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