Liberal direction of political economy and its impact on economic thought in Serbia in the 19th century

Abstract

Liberal free market economy, based on non-interference of the government in the field of economy, emerged in Serbia in the 19th century, during the First Serbian Uprising, first as a political, and then as an economic idea. These ideas appeared also in the 1835 Sretenje Constitution. In the early 19th century, opting to return to the European civilization circle of countries, from which it was separated by the Ottoman occupation, Serbia finally became a part of European political, economic and cultural area. In economic terms, at the time Serbia saw first ideas of liberalism and vulgar political economy. This paper presents the points of view of several most important authors of the time, as well as basic concepts of liberal ideas and the vulgarization of economy.

Keywords

• liberalism
• political economy
• vulgarism
• free competition
• private property