A Historical Perspective

Gregory Gull

Chapter 1 in The Intent of Business, 2013, pp 10-30 from Palgrave Macmillan

Abstract: Abstract Adam Smith’s theory of political economy, which is the foundation of our current system of economics, was influenced by those who preceded him and by the spirit of the times within which he lived. In fact, in formulating his economic system, Smith essentially synthesized the theories of such people as Sir Francis Bacon, Rene Descartes, Sir Isaac Newton, and John Locke. Toward developing an understanding of the assumptions upon which Smith’s theory rests, we will begin our discussion with the ideas and theories of Sir Francis Bacon.

Keywords: Historical Perspective; Productive Capital; Material Wealth; Individual Business; Mechanistic View (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-35208-8_2

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DOI: 10.1057/9781137352088_2

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