PAPM 1000 Chapter Notes - Chapter 4: Factions Of Halo, Industrial Revolution, Scientific Revolution
4 Dec 2017
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Chapter 4 the classical school forerunners. Whom did the classical school benefit or seek to benefit: classical economics served all society because the applications of its theories promoted capital accumulation and economic growth. But ultimately economic progress enabled workers to enhance their own position, and in this sense classical economics benefited them too. How was the classical school valid, useful or correct in its. Which tenets of the classical school became lasting. Sir dudley north: north emphasized that trade is not a one-sided benefit to whichever country that realizes a surplus of exports but rather it is an act of mutual advantage to both sides. War, and payments abroad, is so much impoverishment. 4: second, writing a generation before quesnay constructed his tableau. But he believed that an export surplus could not be maintained indefinitely; subsequent events would wipe it out.
