JAMES STEUART Meaning and
Definition
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James Steuart (1712-1780) was a Scottish economist and philosopher known for his significant contributions to the field of political economy. He is famously remembered as an influential figure of the mercantilist school of economics during the 18th century.
Steuart's theories and writings primarily focused on the economic principles and practices of his time. He argued that the wealth and prosperity of nations were largely dependent on the regulation of domestic and international trade. Steuart emphasized the importance of government intervention in economic affairs, advocating for policies that would promote and protect national industries, particularly in terms of trade restrictions and tariffs.
His most notable work, "An Inquiry into the Principles of Political Economy" (1767), presented a comprehensive analysis of economic systems, emphasizing the role of the state in the economy. Steuart posited that government intervention, through legislation and regulation, was crucial for controlling economic activities and maintaining stability and prosperity within a nation.
Steuart's ideas greatly influenced subsequent generations of economists and political thinkers, including famous scholars such as Adam Smith and David Ricardo. His work laid the groundwork for further debate and exploration of economic theory, particularly in the realms of international trade, commerce, and government policies.
In summary, James Steuart was a Scottish economist whose writings and theories left a lasting impact on the field of political economy. His contributions, particularly his emphasis on government intervention and regulation in economic affairs, have shaped the development of economic thought throughout history.
Etymology of JAMES STEUART
The word "James Steuart" does not have an etymology as it is a proper noun and refers to a person's name.
However, if you are referring to the family name "Steuart", it has Scottish origins. The surname Steuart is derived from the Old English personal name "Stigeweard", which means "guardian" or "warden". Over time, the spelling evolved to Steuart or Stewart. The name became prominent in Scotland when Walter FitzAlan, a Breton knight, was granted lands in Renfrewshire by David I of Scotland. The FitzAlan family adopted the name Stewart or Stuart and played a significant role in Scottish history, particularly as rulers of Scotland.
Regarding the name "James", it can be traced back to the Hebrew name "Yaakov" meaning "supplanter" or "holder of the heel".
