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Aristotle writes "Politics and Ethics" (Distinguishes between money and real capital).
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-The economy as moral laws.
-Canon law,
-Changes value.
-It condems usury.
-Wealth by accumulation of reserves. -
Foreing trade more important than inside.
Separate Church of goverment and the governs has the power.
Based their economy on the accumulation of wealth (metals). -
Trade balance. Merchandise movements. Payments from citizens to government.
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Billionism (Spanish) is a stage of exchange of precious metals.
Colbertism (French) Industrialization.
Comercialism (British) Foreign trade-wealth. -
Distribution of wealth in income, interest and salaries. Production and distribution theory. Theory of interest.
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Wealth is generated in AGRICULTURE
The state should not intervene.
The industry and trade do not add value.
FRANCE -
He created the Physiocrat school
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Book "The wealth of nations" is the difference between price and value of use of goods and division of labour.
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Free trade (The state should not intervene).
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The population will believe that resources are sufficient.
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Writes "Principles of political economy and taxation"
Iron-to-wages act -
Division for social classes.
Scientific socialism.
Political end of the doctrines of Lais.
SURPLUS VALUE -
Publish the history of all existing societies is the story of the class struggle of a few owners and oppressed.
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The value of the goods is explained by their costs (for the supply side).For the neoclassical on the other hand, the value of the goods is explained by the marginal utility,that is, the value that is assigned to the last unit consumed (by the demand side).
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English: connection with William Stanley and Alfred Marshall, major exponent of neo-classicism.
Austrian: associated with Carl Menger, who developed the fundamentals of marginal analysis.
French: where is Leon Walras, who developed the theory of general equilibrium and the concept of marginal utility. -
General theory of employment, interest and money, changed the dominat economic paradigm.
Work and pay to revive the economy -
Father of Macroeconomics
British economist whose ideas had a strong impact on modern economic and political theories. -
Foundation of the World Bank
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Questions the physiocrat school
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Economic theory which considers the amount of money available as a determinant element in the economy.
Opposed to Keynesianism
INFLATION -
Bonding with the Chicago school
main exponent is the Nobel Prize winner, who led the school for many years.
