History of Economy

Topics: Economics, Adam Smith, Karl Marx Pages: 3 (982 words) Published: December 14, 2014
The ATHENIANS – Economic thought from great Athenian and Greek philosophers

Oeconomicus by Xenophon
He wrote one ofthe earliest economic text in existence – mainly focuses on Ideas regarding households management – how to manage a economic household – payment of the bills, saving money – a successful household is created from moderation and hard work or your household will fall apart The Republic by Platon

in his book he mostly talked about the iideas of democratic and republican forms of government. The society should be organised. Included many preliminary ideas regarding specilization. If everybody does what they´re good at, then we will have more staff (e.g. shoesmaker) – everyone shoud be specialized in what they´re good at.

Politics by Aristoteles
Aristoteles work criticizing many of Platons ideas regarding how society should be run and examining different forms of governments. It began a discussion of private property right and its importance in social amd everyday life.

The Middle Ages – Economic thought from the middle ages

People were very surprised and they mostly focused on how is the world working, how should they live. Thomas Aquinas
Aquinas was a theologian but wrote much economic ideas that still permeate in ethical discussion today. He discusses the idea of a „just price“. The price that doesn´t ask for much more than the cost of production and what is needed to sustain the worker. It´s not about the profit but about the maximazing the value

Mercantilism
is a school of thought that focuses on a nations control of trade to promote a positive trade balance Basically, we should always make sure to sel stuff to other nations to keep the nation prosperous. The main idea was to cumulate a lot of money because only than could a country become powerful. In the Middle Ages that means the cumulation of gold.

Thomas Mun
His person is reffered to as one of the first Mercantilists. He theorized that a country must export more...
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