Автор работы: Пользователь скрыл имя, 19 Июня 2014 в 13:30, реферат
The city states of Sumer developed a trade and market economy based originally on the commodity money of the Shekel which was a certain weight measure of barley, while the Babylonians and their city-state neighbors later developed the earliest system of economics using a metric of various commodities, that was fixed in a legal code. The early law codes from Sumer could be considered the first (written) economic formula, and had many attributes still in use in the current price system today, such codified amounts of money for business deals (interest rates), fines in money for 'wrong doing', inheritance rules, laws concerning how private property is to be taxed or divided, etc.
Annotation
The title of the text is “History of economic thought”. In this text it is said about the city states of Sumer developed a trade and market and market economy based originally on the commodity money of the Shekel. The author points out the benefits of economic thought which dates from earlier Mesopotamian, Creek Roman, Indian, Chinese, Persian and Arab civilizations. It is said that physiocrats, a group of 18th century French thinkers and writers, developed the idea of the economy .It follows that they opposed the mercantilist policy of promoting manufacturing and trade at the expense of agriculture. Also it is said about publication of Adam Smith’s. The Wealth of Nations in 1776. It is said that David Ricardo focused on the distribution of income among landowners, workers, and capitalists. It is mentioned that Thomas Robert Malthus used the idea of diminishing returns.
It follows that John Stuart Mill parted company with the earlier classical economists on the inevitability of the distribution of income. The author points out that Marxist economics descends from classical economics. It is given the main idea of neoclassical economics.
Vocabulary
Информация о работе Economical Text – “History of economic thought”