Friedrich List
Friedrich List: A Pioneer of Economic Thought
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Full Name and Common Aliases
Friedrich List was a German-American economist and politician born on August 21, 1789, in Reutlingen, Württemberg (now part of modern-day Germany). He is commonly known as Frederick List or Friedrich Wilhelm List.
Birth and Death Dates
August 21, 1789 - November 30, 1846
Nationality and Profession(s)
List was a German-American economist, politician, and writer. His work spanned multiple fields, including economics, politics, and philosophy.
Early Life and Background
Friedrich List's early life was marked by a strong interest in education and politics. He studied theology at the University of Tübingen before shifting his focus to law and politics. In 1814, he began working as an administrator for the government of Württemberg. However, due to disagreements with the authorities, List left Germany and moved to the United States.
Upon arrival in America, List was initially employed by a newspaper. He later became involved in American politics, serving as a member of the New York State Assembly from 1829 to 1832. In addition to his political pursuits, List began writing extensively on economics and economic policy.
Major Accomplishments
Friedrich List made significant contributions to the field of economics through his critiques of Adam Smith's laissez-faire policies and his advocacy for protectionism. His most notable work in this regard is The National System of Political Economy, published in 1841, which provided a comprehensive critique of the then-prevailing liberal economic theories.
List also played a pivotal role in shaping American industrial policy through his influence on the Tariff Act of 1828. This legislation imposed tariffs on imported goods to protect domestic industries and promote economic growth.
Notable Works or Actions
Some of List's most notable works include:
The National System of Political Economy: A comprehensive critique of liberal economic theories, advocating for protectionism and government intervention in the economy.
Outlines of American Political Economy: A collection of essays that provide insight into List's views on economics, politics, and society.
Impact and Legacy
Friedrich List's ideas have had a lasting impact on economic thought. His advocacy for protectionism and government regulation of industry has influenced policymakers around the world. List's critiques of Adam Smith's laissez-faire policies paved the way for subsequent economists to develop alternative theories of economics.
List's influence extends beyond the realm of economics. His emphasis on the importance of education, industrial policy, and social welfare has shaped modern economic thought and policy-making.
Why They Are Widely Quoted or Remembered
Friedrich List is widely quoted and remembered due to his insightful critiques of liberal economic theories. His advocacy for protectionism and government intervention in the economy has had a lasting impact on economic thought and policy-making.
Quotes by Friedrich List
Only now did I recognize the reciprocal relationship which exists between manufacturing power and the national system of transportation, and that the one can never develop to its fullest without the other.
England's national debt would not be so great an evil as it now appears to us, if England's aristocracy would concede that this burden should be borne by the class who were benefited by the cost of wars, namely, by the rich.
Look around, and you see everywhere the exertions and acts of individuals restricted, regulated, or promoted, on the principle of the common welfare.
Industry entirely left to itself, would soon fall to ruin, and a nation letting everything alone would commit suicide.
The relationship I have to my fatherland is like that of mothers with crippled children: they love them all the more, the more crippled they are. Germany is the background of all my plans, the return to Germany.
It is bad policy to regulate everything... where things may better regulate themselves and can be better promoted by private exertions; but it is no less bad policy to let those things alone which can only be promoted by interfering social power.
The more a person learns how to use the forces of nature for his own purposes, by means of perfecting the sciences and the invention and improvement of machines, the more he will produce.
An individual, in promoting his own interest, may injure the public interest; a nation, in promoting the general welfare, may check the interest of a part of its members.
But the general welfare must restrict and regulate the exertions of the individuals, as the individuals must derive a supply of their strength from social power.