Title: From Mercantilism to Adam Smith——First Revolution in the History of Western Economics
Abstract: Western economics begins from mercantilism.With the fast development of capitalist handicraft industry workshop,the theoretical framework of mercantilism gets criticisms from classical political economics in early modern England and French physiocratic school.However,the fight between economics field and mercantilism did not finish until the publication of The Wealth of Nations by Adam Smith with the finish of mercantilism.Smith absorbed the achievement of early classical political economics based on his criticism on mercantilism,and a full system of classical political economics was formed.It is the first great revolution in the history of western economics.The paper provides a statement of the background,contents and the influence of the revolution of Smith.
Publication Year: 2007
Publication Date: 2007-01-01
Language: en
Type: article
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