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The Forerunner Schools of Economic Thought

Seyed Hossein Mirjalili

MPRA Paper from University Library of Munich, Germany

Abstract: The earliest economic schools in the Western world emerged during the Scholastic period (16th century). Prior to that, significant economic ideas had been proposed by various thinkers; however, as they did not gain followers, they remained as individual economic thoughts rather than forming schools. Nevertheless, these early ideas influenced later thinkers and even the founders of subsequent economic schools. It appears that the first economic school in the Western world was the School of Salamanca, which emerged in the 16th century at the University of Salamanca in Spain and gained a following. Another was Mercantilism, which dominated European thought from the late 16th century to the second half of the 18th century. The third was the Physiocratic school (or the school of natural order), which prevailed in France for about two decades in the 18th century. These three schools are considered pre-classical schools of thought, offering the first economic ideas with coherent features characteristic of an intellectual tradition.

Keywords: Economic school; Physiocracy; Mercantilism; Salamanca; Neo-Mercantilism; Neo-Physiocracy. (search for similar items in EconPapers)
JEL-codes: B11 (search for similar items in EconPapers)
Date: 2006-07-03, Revised 2006-10-08
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Published in FARHANG; Quarterly Journal of Humanities and Cultural Studies 59.19(2006): pp. 211-244

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