21. CLASSICAL SCHOOL

The decay of mercantilism was intensified by the growing tendency to limit direct government control over economic life. As a result, prevailed free private enterprise, which led to complete non-interference of the state in business life. A new direction of economic thought has emerged - classical political economy (CPE).

Representatives KPI refuted mercantilism and the protectionist policy promoted by it in the economy, putting forward an alternative concept economic liberalism.

Classic Economy arose when entrepreneurial activity, following the sphere of trade, money circulation and lending operations, spread to many industries.

Stages of evolution of classical political economy:

1 toend of the 17th - first half of the 18th centuries. The stage of expanding the sphere of market relations, refuting the ideas of mercantilism and its complete debunking.

Representatives - William Petty (1623-1687) и Pierre Baugillier - were the first in the history of economic thought to put forward the labor theory of value, according to which the source and measure of value is the amount of labor expended on the production of a particular product. They saw the basis of the wealth of the state in the sphere of production;

2) second half of the 18th century. School physiocrats, which has become widespread in France. The leading authors of this school are François Quesnay (1694-1774) и Jacques Turgot (1727-1781) - decisive importance, along with labor, was attached to the land. They delved into the analysis of the sphere of production and market relations and moved away from the analysis of the sphere of circulation;

3) end of the 18th century. This stage involves work Adam Smith (1723-1790). He believed that economic laws operate independently of people's consciousness, therefore government bodies should not interfere in the economy. He discovered the law of division of labor and the growth of its productivity. In his works Smith considered the concept of a commodity and its growth, profit, capital, production and non-production labor;

4) first half of the 19th century. At this time, the industrial revolution took place in a number of developed countries. Students Adam Smith rethought the main ideas of his concept, enriched the school with fundamentally new and significant theoretical provisions.

Representatives this stage are:

a) Jean Baptiste Say (1767-1832) for the first time introduced into the framework of economic research the problem of balance between supply and demand, the implementation of the total social product depending on market conditions;

b) David Ricardo (1772-1823) most criticized the doctrine A. Smith. He was the first to put forward the pattern of the tendency of the rate of profit to decrease, and developed the economic theory of land rent;

at) Thomas Malthus (1766-1834), who came up with the idea of ​​the influence of the number and rate of population growth on the well-being of society. He substantiated the real participation in the creation and distribution of the total social product of not only production, but also non-production layers of society;

5) second half of the 19th century. Representatives - John Stuart Mill (1806-1873) и Karl Marx (1818-1883) - summarized the best achievements of the school.

Author: Tatarnikov E.A.

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