Eighteenth-Century French Economics and Its Intellectual Contexts

The Luxury Debate

Abstract

This study explores the distinctive characteristics of 18th-century French economics by examining their relationships with the surrounding intellectual context. In the latter half of the 17th century, under the influence of Augustinian thought, a new perspective emerged that framed human motivation and the foundational principles of society through the lens of “utility.” Building on this intellectual shift, Pierre de Boisguilbert took a groundbreaking step toward a liberal economic framework based on the principle of laissez-faire, while also highlighting an economic world driven by utility, desire, and consumption. Following the “crisis of spirit” brought on by secularization, the onset of the Enlightenment era ushered in a new intellectual paradigm. The pessimistic view of human nature rooted in Augustinianism was rejected in favor of Enlightenment economics, which sought to promote secular happiness through profit and pleasure. A pivotal moment in this transformation was the luxury debate, which fundamentally questioned the human condition in the context of civilization and significantly shaped the economic discourse of Enlightenment thinkers. This study first elucidates Boisguilbert’s pioneering contributions before analyzing the development of Enlightenment economics from the perspective of the luxury debate. By analyzing theories of luxury and consumption proposed by thinkers such as Melon, Forbonnais, Quesnay, Butel-Dumont, and Graslin, this study traces the unique trajectory of French economic thought during this period.