Historical Foundations of Political Economy 1
This course provides an introduction to the
history of classical economic thought.
Because of its concern with ethics, social class, income distribution,
market competition, class conflict and technological change, classical
economics provides important building blocks for an understanding of modern
capitalism. We begin with a survey of
political economy to 1776, including the mercantilists and the Physiocrats. We then turn to the classical
economists. The main focus is on Smith,
Ricardo, Mill and Marx. We conclude with
a discussion of the relevance of classical thought for economic analysis today.