I am not sure if there is a theory of economics called "classical theory". However there are a set of economics theories which are collectively referred to classical economics.
Classical economics represents the predominant thinking in economics prior to appearance of economic theories advanced by Keynes. The origin of classical economics can be considered to be the the Ideas of Adam Smith, presented in his book Wealth of Nations published in 1776. Other major economist that have contributed to the ideas of classical economics are David Ricardo, Thomas Malthus, and James Stuart Mill.
The predominant premise of classical economics is that economic laws relating to individual self interest and competition determine economic variables such as prices, production, allocation of resources, and distribution of economic rewards.
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