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• History_of_economic_thought abstract "The history of economic thought deals with different thinkers and theories in the subject that became political economy and economics from the ancient world to the present day. It encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In medieval times, Scholastic scholars such as Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price.Since medieval times, economics was developed almost exclusively in the West until the 20th century.Scottish philosopher Adam Smith is often cited as "the Father of Modern Economics" for his treatise The Wealth of Nations (1776). His ideas built upon a considerable body of work from predecessors in the eighteenth century, particularly the Physiocrats. His book appeared on the eve of the Industrial Revolution, with associated major changes in the economy.Smith's successors included such classical economists as Thomas Malthus, Jean-Baptiste Say, David Ricardo, and John Stuart Mill. They examined ways the landed, capitalist, and laboring classes produced and distributed national output and modeled the effects of population and international trade. In London, Karl Marx castigated the capitalist system, which he described as exploitative and alienating. From about 1870, neoclassical economics attempted to erect a positive, mathematical, and scientifically grounded field above normative politics.After the two world wars of the early twentieth century, John Maynard Keynes led a reaction against governmental abstention from economic affairs, advocating interventionist fiscal policy to stimulate economic demand and growth. With a world divided between the capitalist first world, the communist second world, and the poor of the Third World, the post-war consensus broke down. Others like Milton Friedman and Friedrich Hayek warned of The Road to Serfdom and the unworkability of socialism, focusing their theories on what could be achieved through better monetary policy and deregulation.As Keynesian policies seemed to falter in the 1970s, there emerged New Classical Macroeconomics, developed by prominent theorists including Robert Lucas, and Edward C. Prescott, who tried to provide neoclassical microeconomic mechanisms to help analyze macroeconomic issues. New Keynesian economists including Paul Krugman, Edmund Phelps, John B. Taylor and Huw Dixon responded to their critiques, eventually leading to the New Neoclassical Synthesis in macroeconomics. Meanwhile development economists like Amartya Sen, and information economists like Joseph Stiglitz introduced new ideas to economic thought.".
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• History_of_economic_thought title "More articles related to the history of economic thought".
• History_of_economic_thought subject Category:Economic_history.
• History_of_economic_thought subject Category:Economics_lists.
• History_of_economic_thought subject Category:Economists.
• History_of_economic_thought subject Category:History_of_economic_thought.
• History_of_economic_thought subject Category:History_of_social_sciences.
• History_of_economic_thought subject Category:Lists_of_economists.
• History_of_economic_thought subject Category:Political_economy.
• History_of_economic_thought comment "The history of economic thought deals with different thinkers and theories in the subject that became political economy and economics from the ancient world to the present day. It encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands.".
• History_of_economic_thought label "Geschiedenis van het economisch denken".
• History_of_economic_thought label "Histoire de la pensée économique".
• History_of_economic_thought label "Historia del pensamiento económico".
• History_of_economic_thought label "Historia myśli ekonomicznej".
• History_of_economic_thought label "History of economic thought".
• History_of_economic_thought label "História do pensamento económico".
• History_of_economic_thought label "Storia del pensiero economico".
• History_of_economic_thought label "История экономических учений".
• History_of_economic_thought label "تاريخ الفكر الاقتصادي".
• History_of_economic_thought label "経済思想史".
• History_of_economic_thought label "经济思想史".
• History_of_economic_thought sameAs Dějiny_ekonomického_myšlení.
• History_of_economic_thought sameAs Historia_del_pensamiento_económico.
• History_of_economic_thought sameAs Histoire_de_la_pensée_économique.
• History_of_economic_thought sameAs Sejarah_pemikiran_ekonomi.
• History_of_economic_thought sameAs Storia_del_pensiero_economico.
• History_of_economic_thought sameAs 経済思想史.
• History_of_economic_thought sameAs 경제사상사.
• History_of_economic_thought sameAs Geschiedenis_van_het_economisch_denken.
• History_of_economic_thought sameAs Historia_myśli_ekonomicznej.
• History_of_economic_thought sameAs História_do_pensamento_económico.

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