The so-called classical school of the political economy takes its at the beginning of of 1776 with Adam Smiths Hauptwerk at Inquiry into the Nature and Causes OF the Wealth OF nation, and you are entitled the fame the economics as independent science discipline to have established. Only center to end 19. Century it is replaced from other currents - historical school of the political economy, Neoklassik, marxism, Keynesianismus - to a large extent.

The representatives by any means always are not thereby an opinion, nor they work on a common society draft. Rather the advocates of the classical political economy divide some fundamental convictions, which make her the starting point of their respective research work.

Thing in common

(after K. Brandt)

1. Individualism: Each humans determined the right and the ability, live solely responsible and in liberty.
2. Liberalism: The state serves as order and protecting power. Instead of an authoritarian authority, the state is to protect the fair reconciliation of interests and to secure a participation of the citizens at the public life.
3. Determinismus: The classical school of the political economy accepts, equal the laws of nature in the physical world God-given truths existed, which determined the behavior in society and economics.
4. Harmony conception: Individuals act carried on by their self-interest. This is brought on the one hand by competition - an indispensable condition for functioning the liberals society -, on the other hand by the ability to ethical acting with the self-interest of all other individuals to reconciliation.

General agent

• Adam Smith
• David Ricardo
• Jean Baptiste Say
• Thomas Malthus
• John Stuart Mill
• Johann Heinrich of

Demarcation and criticism

The most important - nachhaltigste because - innovation of the classical school is without a doubt consistent orientation at the liberal conception of the world. Thus the classical school developed for instrument not least as Gegenmodell, for the overcoming of the mercantilism. The solely responsible, certain individual for the absolutist state, was opposite-set the active commercial policy the free trade and the national steering of the economy the control over the competition.

From the Physiokratie differentiates the classical school above all the answer to the question about the source of the prosperity. While the Physiokraten regards the agriculture as only source of the prosperity, Smith places the worker in their place as such - independently of the sector.

The main point of criticism at the classical teachings - in particular by the historical school of the political economy spoken - is that the out of touch with reality one. The models and theories of the classical school are much clear and supply often clear results. These agree with the observable occurrences however only rarely. The critics demand at least a Untermauerung and an examination of the theoretical results by empirical investigations William G.F. Ro. Some economists - in particular Karl of knee - go off still another step further and to lean each nature legalnesses announcing theory formation as unscientific. Their opinion after, regularities can have in principle only the character of analogies - realistic prognoses are hardly possible according to for their opinion (see deduction).

Related links

• Classical political economy on VWLer.de

Literature

K. Brandt: History of the German political economy, Freiburg, 1992.

Articles in category "Classical political economy"

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