classical economics

noun

1. a system or school of economic thought developed by Adam Smith, Jeremy Bentham, Thomas Malthus, and David Ricardo, advocating minimum governmental intervention, free enterprise, and free trade, considering labor the source of wealth and dealing with problems concerning overpopulation.

Other Words From

• classical economist noun

Example Sentences

And classical economics holds that if everyone pursues his self-interest properly, the common interest will inevitably result.

From The Daily Beast

It paves the way for the disintegration of a classical economics unable to cope with the problem of its own making.

From Project Gutenberg

They have been the successors and the continuers of classical economics.

From Project Gutenberg

To sum up: the classical economics, having primarily to do with the pecuniary side of life, is a theory of a process of valuation.

From Project Gutenberg

From which duly follows the general position of classical economics on the theory of production.

From Project Gutenberg