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Classical Economics
(redirected from Classical economist)

    Also found in: Encyclopedia, Wikipedia, Hutchinson 0.03 sec.
Classical Economics
Classical Economics refers to work done by a group of economists in the 18th and 19th centuries. They developed theories about the way markets and market economies work. The study was primarily concerned with the dynamics of economic growth. It stressed economic freedom and promoted ideas such as laissez-faire and free competition.

Notes:
Famous economists of this thinking include Adam Smith, David Ricardo, Thomas Malthus, and John Stuart Mill.
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Adam Smith, the premier classical economist, believed that people are driven by a selfish desire to "better their condition," but he would never have subscribed to the notion that economic activity could be reduced to rational utility maximization.
Virtue and prosperity by Fukuyama, Francis / The National Interest
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