Word: quesnay
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Dates: during 1940-1949
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...significant only as an expression--or better, rationalization--of social change. To give it reality, it must be projected back on to the plane out of which it was cut: the economic world of the author. In the very choice of the "factors remaining equal" lies social philosophy. Quesnay and eighteenth-century France, Adam Smith and British industrial supremacy, Keynes and stagnation, are inseparably intertwined. Like political science, economic theory cannot be torn out of its historical context without losing substance...