The influence of classical philosophy on the transformation of economics and economic institutions

G. Ryazanova ()

Entrepreneur’s Guide, 2020, vol. 13, issue 4

Abstract: The author reveals the connection between philosophical and economic thought in the classical period. The influence of philosophy on political and economic aspects of national economy development in the pre–scientific and scientific periods is revealed. The features of philosophical and worldview concepts of classicism that reflect the specifics of the era are indicated. The analysis of the relationship between classical philosophy and Economics has shown the influence of spiritual and moral aspects of the epoch, transcendentalism, rationalism, and a apriorism on economic theories based on the mechanistic paradigm, the logic of economic laws, and clear and unambiguous provisions for the formation and development of economic institutions. A model is presented that reveals the interaction of economic institutions from the position of classical philosophy in terms of the individualistic concept of behavior of classical economic agents, the Institute of labor resources as the basis of value and wealth, balance as a key element of the self–regulating order and distribution of economic benefits, and other aspects.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ahc:journl:y:2020:id:1489

DOI: 10.24182/2073-9885-2020-13-4-268-278

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