The Age of Classical Political Economy

Volker Caspari ()
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Volker Caspari: Technical University of Darmstadt

Chapter Chapter 7 in A History of Economics, 2024, pp 53-92 from Springer

Abstract: Abstract This chapter provides an introduction to the first system of economics which is based on the principles of a self-regulation. In 1723, it was impossible to predict that Adam Smith, born that same year in the Scottish town of Kirkcaldy, would one day become the “Adam of economics”. Following Smith, a second eminent figure in the field of economics emerged in Britain: David Ricardo, a pioneer of deductive economic theory, whose contributions to the field continue to be of significant relevance in the present day.

Date: 2024
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DOI: 10.1007/978-3-662-70177-5_7

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