Principle of inclusion relative dating

06-Mar-2017 16:27

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The general presumption, then, was on the side of laissez faire; exceptions arose on an ad hoc, case by case, usually empirical basis; and the burden of proof lay on the interventionists.

Of course, over time this laissez-faire presumption was attenuated until, in the hands of men like John Stuart Mill, its dim shadow could barely be perceived.

While such ringing declarations of a cleavage between the political economists and laissez faire may be a bit hyperbolic when applied to such figures as Adam Smith or David Ricardo, these assertions seem far less controversial when directed at John Stuart Mill, Henry Sidgwick, or J. Whether one focuses upon the death of Ricardo in 1823, or the influence of Bentham's principle of utility, or John Stuart Mill's flirtation with socialism as constituting the definitive turning point toward a more activist, interventionist state, contemporary revisionist scholars concur in their assessment of the Classicals as deviationists from doctrinaire laissez faire.

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Also, a Classical School replete with deviations, exceptions, and considerations of expediency is a much more venerable ancestor for modern Keynesianism.Particularly in the mid-1960s a debate raged in the professional journals over essentially three interrelated issues.(1) What policy conclusions did Classical Economics dictate, and the Classical economists, as individuals, endorse?Bentham spared none of his vituperative skills in excoriating such doctrines as mere self-serving myth, undefended and indefensible dogma, and his calumnies banished such Lockean encumbrances from the arena of respectability.