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dc.contributor.authorHiç, Fatma Özlen
dc.date.accessioned2021-03-04T09:22:51Z
dc.date.available2021-03-04T09:22:51Z
dc.identifier.citationHiç F. Ö. , EVOLUTION OF ECONOMICS Part 1: The Early Classical System and The Birth of Liberalism, Kriter Yayınevi, İstanbul, 2020
dc.identifier.otherav_67edeb93-3fb9-414f-a98c-ee829e90a541
dc.identifier.othervv_1032021
dc.identifier.urihttp://hdl.handle.net/20.500.12627/72096
dc.identifier.urihttps://avesis.istanbul.edu.tr/api/publication/67edeb93-3fb9-414f-a98c-ee829e90a541/file
dc.description.abstractAdam Smith, with An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776 is unanimously hailed as the founder of economics as a social science and also of “economic liberalism” or “capitalism” as it is called to contrast it with “socialism”, the latter propagated by K. Marx at a later date.The group of economists that followed A.Smith, including such notable names as D.Ricardo, N.W.Senior, John Stuart Mill, culminating in Alfred Marshall (1890: Principles of Economics) is called the “Classical School” or alternately the “Manchester School” to refer to their place of origin. Their macroeconomic system is called the “Classical System” (Schumpeter 1954; Roll 1992; Hiç 1994, Paya 1997; Ackley 1961, Branson 1989; Froyen 1990, etc.). Having accepted the Malthusian law of population (T.Robert Malthus: 1798 Essays on the Principle of Population) D. Ricardo had come up with a model in which growth eventually comes to a halt, moving to that point, however, all along at full employment equilibrium (Baumol and Turvey 1970, Hiç 1994). This was also in line with the views of Adam Smith. Marshall had introduced the concept of elasticities and used the partial method of analysis. In contrast, Leon Walras, in his 1874-7: Eléments d’Economie Pure ou Theorie de La Richesse Sociale (1. ed). used the general equilibrium approach to prove that the economy arrives automatically to full employment equilibrium, following Adam Smith and the Classical School.This book offers a summary of the basic views and conclusions of Adam Smith concerning economic regime, as is also followed by the rest of the members of the Classical School: In a milieu of perfect competition prevailing in all the markets or sectors of the economy, including the labor market, full employment equilibrium will be achieved automatically. This equilibrium will, therefore, also maximize the welfare of the workers because the market wage rate, with no intrusions from the government or the unions, will have ensured full employment. Hence, there is no need for interventionism, that is, for the state to intervene prices, wages, channeling of investments and economic decisions in general.
dc.language.isotur
dc.publisherKriter Yayınevi
dc.subjectİktisadi Tarih ve İktisadi Düşünceler Tarihi
dc.subjectEconomics and Econometrics
dc.subjectEconomics, Econometrics and Finance (miscellaneous)
dc.subjectGeneral Economics, Econometrics and Finance
dc.subjectSocial Sciences & Humanities
dc.subjectİktisat Teorisi
dc.subjectİktisat
dc.subjectEKONOMİ
dc.subjectEkonomi ve İş
dc.subjectSosyal Bilimler (SOC)
dc.subjectİktisat Politikası
dc.subjectSosyal ve Beşeri Bilimler
dc.titleEVOLUTION OF ECONOMICS Part 1: The Early Classical System and The Birth of Liberalism
dc.typeKitap
dc.contributor.departmentİstanbul Üniversitesi , İktisat Fakültesi , İngilizce İktisat Bölümü
dc.contributor.firstauthorID2507163


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