classical economics

noun

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 classical economics

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

And classical economics holds that if everyone pursues his self-interest properly, the common interest will inevitably result.
Michael Tomasky: Why Jamie Dimon Should Resign From J.P. Morgan | Michael Tomasky | May 15, 2012 | THE DAILY BEAST
It paves the way for the disintegration of a classical economics unable to cope with the problem of its own making.
The Accumulation of Capital | Rosa Luxemburg
They have been the successors and the continuers of classical economics.
Essays on the Materialistic Conception of History | Antonio Labriola
To sum up: the classical economics, having primarily to do with the pecuniary side of life, is a theory of a process of valuation.
The Place of Science in Modern Civilisation and Other Essays | Thorstein Veblen
From which duly follows the general position of classical economics on the theory of production.
The Place of Science in Modern Civilisation and Other Essays | Thorstein Veblen

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