| Classical
Economics |
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Classical
Economics refers to work done by a group of economists in the 18th
and 19th centuries in developing theories about the way markets and
market economies work. The study was primarily concerned with the
dynamics of economic growth. It stressed economic freedom and ideas
such as laissez-faire and free competition.
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Famous
economist of this thinking includes Adam Smith, David Ricardo, Thomas
Malthus and John Stuart Mill. |
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Dictionary
