Economic Thought

History of scotch thought From Wikipedia, the reconcile encyclopedia Jump to: navigation, search For historical changes in economies, see Economic history. For contrastive groupings of economists, see Schools of frugal thought. | The examples and calculate in this crafticle may not re reach a oecumenical view of the subject. Please reform this article and whistle all over the issue on the talk page. (October 2010) | wealthiness of Nations is widely considered to be the first study in modern economic science. The history of economic thought deals with different thinkers and theories in the subject that became political scrimping and economics from the ancient world to the present day.[citation needed] It encompasses many different schools of economic thought. Greek writers such(prenominal)(prenominal) as the philosopher Aristotle examined ideas or so the art of wealth learnedness and questioned whether property is best remaining in private or public hands.[citation needed] In chivalrous times, scholars such as doubting doubting Thomas Aquinas argued that it was a example pact of businesses to sell goods at a just price.[citation needed] stinting philosopher hug drug smith is often cited as the sky pilot of modern economics for his treatise The Wealth of Nations (1776).

[1][2] His ideas built upon a abundant body of work from predecessors in the eighteenth century peculiarly the Physiocrats. His book appeared on the eve of the Industrial Revolution with associated study changes in the economy.[3] Smiths successors include such classical economists as the Rev. Thomas Malthus, Jean-Baptiste Say, David Ricardo, and John Stuart Mill.[citation needed] They examined ship supply the landed, capitalist and labouring classes produced and distributed subject area output and modeled the do of population and international trade.[citation needed] In London, Karl Marx castigated the capitalist system, which he exposit as exploitative and alienating.[citation needed] From around 1870, neoclassical economics spark to erect a positive,...If you insufficiency to get a amply essay, order it on our website: Orderessay

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