Frédéric Le Play: a forefather of social economics

Presents Frédéric Le Play ‐ French author who lived in the nineteenth century ‐ as a precursor of social economics. In the first place, characterizes this perspective, which is critical of the classical theory. Analyses some of its postulates and reviews some examples of authors and schools sharing this approach. Situates Le Play’s thought in the context of the philosophical traditions of his epoch. Describes the elements in his works which are typical of the social economics currents: the examination of the relationships between economic and social phenomena; the introduction of institutional elements in the economic analysis; the rejection of the market’s “invisible hand” as a mechanism able to generate wellbeing for the entire society; the influence of traditional values and customs in the economic behaviour; and the inductive logic of his methodology. Discusses the suitability of Le Play’s ideas for the present time.