Scottish philosopher Adam Smith is often cited as the father of modern economics for histreatise The Wealth of Nations (1776).[1][2] 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.[3]
- 1 Early economic thought
- 2 Mercantilists and nationalism
- 3 British enlightenment
- 4 The circular flow
- 5 Adam Smith and The Wealth of Nations
- 6 Classical political economy
- 7 Capitalism and Marx
- 8 Neoclassical thought
- 9 Austrian school
- 10 Depression and reconstruction
- 11 The "American Way"
- 12 Monetarism and the Chicago school
- 13 Global times
- 14 Contemporary economic thought
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