classical economics
Definition
School of economic thought which stresses that economies function most efficiently if everyone is allowed to pursue his or her self interest, in an environment of free and open competition. Based on the ideas of eighteenth and nineteenth century British economists—from Adam Smith (1723-90) through to Alfred Marshall (1842-1946). Also called classical school of economics. See also new classical economics and neo classical economics.
classical economics is in the Economics, Politics, & Society subject.
classical economics appears in the definitions of the following terms: classical school of economics, Keynesian economics and mercantilism
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