Classical model XIII-XIX Finance 241 Gazizova Rufina

Classical model XIII-XIX Finance 241 Gazizova Rufina

What is it… • Classical political economy the first of the modern trends of economic thought. • Adam Smith, Jean-Baptiste say, David Ricardo, Thomas Malthus and John Stuart mill.

History • The origination of the foundations of the classical school of economic science in society was dominated by the opinion about the necessity of state intervention in the economy. • Representatives of classical political theory has highlighted the industrial production, which pushed trading and loan capital.

Stages of development • The first period of this stage (the middle of XVII - beginning of XVIII century). U. Petti and P. Buegeler • The second stage- Adam Smith. • The third stage - the entire first half of the XIX century. D. Ricardo, T. Malthus, N. U. senior, J. B. Sow, F. , Bastia. • The fourth stage - the second half of the XIX century. Outstanding representatives of this stage are joules. S. mill and K. Marx.

More about… А Smith believed that the main wealth of the country is agriculture, then industry. • Exchange trading • Еconomic man • Invisible hand • Free competition

Conclusion • The end of the age "classics" of political economy does not mean the end of political economy as a science. On the contrary, as in other Sciences, "classical period" is only "high start" life cycle science, opening the following, no less rich pages of its history.

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