17 Facts About Ferdinando Galiani

Ferdinando Galiani was an Italian economist, a leading Italian figure of the Enlightenment.

Ferdinando Galiani showed early promise as an economist, and even more as a wit.

Ferdinando Galiani held this post for ten years, when he returned to Naples and was made a councillor of the tribunal of commerce, and in 1777 administrator of the royal domains.

Ferdinando Galiani's published works focus on the area of humanities as well as social sciences.

Ferdinando Galiani left a large number of letters which are not only of biographical interest but are important for the light they cast on the social, economic, and political characteristics of eighteenth-century Europe.

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Until his death in Naples, Ferdinando Galiani kept up a correspondence with his old Parisian friends, notably Louise d'Epinay; this was published in 1818.

In 1751, while still a student, Ferdinando Galiani wrote a book entitled Della moneta which intervened in the Neapolitan debate on economic reform.

In Della moneta, Ferdinando Galiani constantly described the effects of human actions in terms of providential rewards and punishments.

Ferdinando Galiani used the term "providence" to reconcile the historical dynamic of commercial progress with a set of fixed moral rules that lay at the core of successful human interaction.

Ferdinando Galiani presented any moralistic dismissals of natural price formation and self-interested profit-seeking as reproaches to the way God intended human societies to function.

Ferdinando Galiani believed that there are many shocks to the economy, which can cause disequilibrium and it takes long time for the restoration of equilibrium.

Ferdinando Galiani thanked that something instead of the natural law needed to face the challenge and shocks.

Ferdinando Galiani not only has theoretical brilliance with his idea of "natural" laws in economics, but was a practical man, skeptical about the reach of abstract theory, particularly when action was necessary and urgent.

Ferdinando Galiani was repelled by the wide-eyed policies called for by the physiocrats, which he believed were, unrealistic, impractical and, in times of crisis, downright dangerous.

Ferdinando Galiani disagreed with the physiocratic argument which said that in order to provide a sufficient supply of grain, it suffices to establish a completely free trade.

However, Ferdinando Galiani used the case of exportation to challenge the physiocrats.

Therefore, as long as there is no certainty as to the existence of a permanent surplus, Ferdinando Galiani claimed, the nation must concentrate its efforts on the internal circulation of grain.