Скачать или смотреть What is Classical Economics? | Adam Smith | Classical Theory | Classical Economists (HINDI)

What is Classical Economics? | Adam Smith | Classical Theory | Classical Economists (HINDI)
Join Britannica's Publishing Partner Program and our community of experts to gain a global audience for your work! Classical economics, English school of economic thought that originated during the late 18th century with Adam Smith and that reached maturity in the works of David Ricardo and John Stuart Mill.
Key Takeaways. Classical economic theory was developed shortly after the birth of western capitalism. It refers to the dominant school of thought for economics in the 18 th and 19 th centuries. Classical economic theory helped countries to migrate from monarch rule to capitalistic democracies with self-regulation.
They essentially regarded the economy as able to maintain its own equilibrium through market forces, and that government intervention in the form of artificial tariffs or other barriers that disrupted the free flow of goods and services were harmful to the economy. Classical economics was a major intellectual achievement.
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