Saturday, August 4, 2018

National Economics and Cosmo-Economics

In the Mercantilist era prior to Wealth of Nations, Nationalism is the primary theme, but is the object of study only as applied piecemeal to specific industries.  So, Smith's work is innovative Nationalism insofar as the Nation becomes the fundamental Economic unit.  However, at the same time, it transcends Nationalism, by advocating free inter-national trade, thereby introducing the concept of a global market in which a Nation is only one player.  Now, Marx further promotes Globalist Economics, but both the title and the content of German Ideology suggest a lingering Nationalism.  Furthermore, mainstream Economics generally follows Smith, distinguishing between domestic and foreign spheres of activity.  So, still lacking, and perhaps forthcoming, is a Cosmo-Economics, constituted by a single world-wide market, in which individual persons are the fundamental players, and in which, if factors at all, national divisions are only mediately so, just as City, County, and State might be in a National market.

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