Ferdinando Galiani

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Galiani, Ferdinando

 

Born Dec. 2, 1728, in Chieti. died Sept. 30, 1787, in Naples. Italian bourgeois economist and philosopher, statesman, and abbot. One of the forerunners of the Austrian school.

Galiani asserted that the value of a commodity is determined by its utility. However, his concept of value is contradictory: he tried to deduce the source of a commodity’s value from its utility and from the expenditure of labor that went into its production. Galiani considered questions of monetary theory and international trade. He criticized the physiocratic theory and the policy of free trade.

WORKS

Trattato della moneta. Naples, 1750.
In Russian translation:
Besedy o torgovle zernom. Kiev, 1891.

REFERENCES

Marx, K. Kapital, vol. 1. In K. Marx and F. Engels, Soch., 2nd ed., vol. 23, pp. 84, 99, 100, 110, 164, 169, 325, 658.
Marghieri, A. L’Abate Galiani. … Naples, 1878.

V. S. AFANAS’EV