Sir James Steuart, 3rd Baronet of Goodtrees and 7th Baronet of Coltness (/ˈstjuːərt/; 21 October 1712 – 26 November 1780), also known as Sir James Steuart Denham, was a prominent Scottish Jacobite and author of "probably the first systematic treatise written in English about economics"[1] and the first book in English with 'political economy' in the title.

[6] He was one of 12 children of Sir James Stewart, 1st Baronet, Solicitor General for Scotland under Queen Anne and George I, and was born in Edinburgh.

He then spent some years on the Continent, and while in Rome entered into relations with the Young Pretender, Charles Edward Stuart.

[8] Their son, Sir James Steuart Denham (1744-1839), edited his father's works, was a Member of Parliament, and Colonel of the Scots Greys.

Steuart was descended from another Sir James Stewart, knight, an Edinburgh merchant and staunch Presbyterian, who supported Charles II in the British Civil Wars of 1642-1660 and who died in 1681, having made enough money to purchase landed estates for his sons; three of those sons were prominent enough to have their families receive the title of Baronet after the Glorious Revolution of 1688.

[12] Although often regarded as part of the Scottish Enlightenment which produced David Hume and Adam Smith, Steuart's economics hark back to the earlier Mercantilist era.

[13] Mercantilism was the school of thought that held that a positive balance of trade was of primary importance for any nation and required a ban on the export of gold and silver.

Additionally in 1815, Britain adopted the high tariff, called the corn laws on all imported wheat at the suggestion of mercantilist advisors.

[16] Still like all good mercantilists, Steuart's eye remained on the exchange as the creator of profit and he recognized no value in a commodity before the sale.