ECONOMIC THOUGHT IN SPAIN

Marjorie Grice-Hutchinson’s ground-breaking work has focused attention on the important contribution Spanish economic writers have made over the centuries. Yet much of her recent work has, until now, been inaccessible beyond the Spanish-speaking world.

The book presents in one volume the most important papers – some of which are published in English for the first time – of Dr Grice-Hutchinson, whose mentor was the late Friedrich von Hayek. It presents a fuller explanation than has hitherto been available of her argument that a ‘Salamancan School’ in the 16th century pioneered a utility and scarcity approach in value theory that led naturally, if not logically, to a rich statement of the quantity theory of money well in advance of other writers such as Bodin. In addition, Grice-Hutchinson offers insights into the nature and character of the Spanish contribution over several centuries: from the preservation of Hellenistic Greek literature until Renaissance Europe was ready to digest it, to the peculiar brand of Spanish Mercantilism expressed in the 17th century.

Economic Thought in Spain shows how the Spanish contribution can be integrated into the wider history of economic theory. This book will be welcomed not only by Austrian economists seeking precursors to Hayek in the ‘Salamancan School’, but also by all those interested in the history of economic and intellectual thought.