History Of Economic Thought
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History Of Economic Thought
The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day. This field encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In the Middle Ages, Thomas Aquinas argued that it was a Morality, moral obligation of businesses to sell goods at a just price. In the Western world, economics was not a separate discipline, but part of Philosophy and economics, philosophy until the 18th–19th century Industrial Revolution and the 19th century Great Divergence, which accelerated economic growth. Ancient economic thought (before 500 AD) Ancient Greece Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of ...
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Political Economy
Political or comparative economy is a branch of political science and economics studying economic systems (e.g. Marketplace, markets and national economies) and their governance by political systems (e.g. law, institutions, and government). Widely-studied phenomena within the discipline are systems such as labour market, labour and international markets, as well as phenomena such as Economic growth, growth, Distribution of wealth, distribution, Economic inequality, inequality, and International trade, trade, and how these are shaped by institutions, laws, and government policy. Originating in the 18th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and Neoclassical economics, modern economics. Political economy originated within 16th century western moral philosophy, with theoretical works exploring the administration of states' wealth ...
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Goujian
Goujian (; r. 496–465 BC) was a king of the Yue state. He succeeded his father, Yunchang (允常), to the Yue throne. Goujian's reign coincided with arguably the last major conflict of the Spring and Autumn period: the struggle between Wu and Yue states, wherein he eventually led his state to victory, annexing Wu. As such, Goujian is sometimes considered the last of the Five Hegemons of the Spring and Autumn period. War between Wu and Yue The war between Wu and Yue comprised several separate phases. It began when a Yue princess, who was married to one of the princes of the neighboring state of Wu, left her husband and fled back to the State of Yue. This became the spark for the war to come. Also, as Yunchang developed Yue's strength, he came into conflict with King Helü of Wu, causing a feud between the two states. Upon the death of Yunchang and the accession of Goujian, Helü seized the opportunity and launched an attack on Yue. At the Battle of Zuili (), however, Yu ...
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Xenophon
Xenophon of Athens (; ; 355/354 BC) was a Greek military leader, philosopher, and historian. At the age of 30, he was elected as one of the leaders of the retreating Ancient Greek mercenaries, Greek mercenaries, the Ten Thousand, who had been part of Cyrus the Younger's attempt to seize control of the Achaemenid Empire. As the military historian Theodore Ayrault Dodge wrote, "the centuries since have devised nothing to surpass the genius of this warrior". For at least two millennia, it has been debated whether or not Xenophon was first and foremost a general, historian, or philosopher. For the majority of time in the past two millennia, Xenophon was recognized as a philosopher. Quintilian in Institutio Oratoria, ''The Orator's Education'' discusses the most prominent historians, orators and philosophers as examples of eloquence and recognizes Xenophon's historical work, but ultimately places Xenophon next to Plato as a philosopher. Today, Xenophon is recognized as one of the gr ...
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Ancient Athens
Athens is one of the List of oldest continuously inhabited cities, oldest named cities in the world, having been continuously inhabited for perhaps 5,000 years. Situated in southern Europe, Athens became the leading city of ancient Greece in the first millennium BC, and its cultural achievements during the 5th century BC laid the foundations of Western world, Western civilization. The earliest evidence for human habitation in Athens dates back to the Neolithic period. The Acropolis of Athens, Acropolis served as a fortified center during the Mycenaean Greece, Mycenaean era. By the 8th century BC, Athens had evolved into a prominent city-state, or Polis, ''polis'', within the region of Attica. The 7th and 6th centuries BC saw the establishment of legal codes, such as those by Draco (legislator), Draco, Solon and Cleisthenes, which aimed to address social inequalities and set the stage for the development of democracy. In the early 5th century BC, Athens played a central role in ...
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Sanzio 01 Plato Aristotle
Raffaello Sanzio da Urbino (; March 28 or April 6, 1483April 6, 1520), now generally known in English as Raphael ( , ), was an Italian painter and architect of the High Renaissance. List of paintings by Raphael, His work is admired for its clarity of form, ease of composition, and visual achievement of the Platonism in the Renaissance, Neoplatonic ideal of human grandeur. Together with Leonardo da Vinci and Michelangelo, he forms the traditional trinity of great masters of that period. His father Giovanni Santi was court painter to the ruler of the small but highly cultured city of Urbino. He died when Raphael was eleven, and Raphael seems to have played a role in managing the family workshop from this point. He probably trained in the workshop of Pietro Perugino, and was described as a fully trained "master" by 1500. He worked in or for several cities in north Italy until in 1508 he moved to Rome at the invitation of Pope Julius II, to work on the Apostolic Palace at Vatican ...
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Lokayata
Charvaka (; IAST: ''Cārvāka''), also known as ''Lokāyata'', is an ancient school of Indian materialism. It's an example of the atheistic schools in the Ancient Indian philosophies. Charvaka holds direct perception, empiricism, and conditional inference as proper sources of knowledge, embraces philosophical skepticism, and rejects ritualism. In other words, the Charvaka epistemology states that whenever one infers a truth from a set of observations or truths, one must acknowledge doubt; inferred knowledge is conditional. It was a well-attested belief system in ancient India. Brihaspati, a philosopher, is traditionally referred to as the founder of Charvaka or Lokāyata philosophy, although some scholars dispute this. Charvaka developed during the Hindu reformation period in the first millennium BCE, after Buddhism was established by Gautama Buddha and Jainism was re-organized by Parshvanatha. Its teachings have been compiled from historic secondary literature such as thos ...
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Anviksiki
Ānvīkṣikī is a term in Sanskrit denoting roughly the "science of inquiry" and it should have been recognized in India as a distinct branch of learning as early as 650 BCE. However, over the centuries its meaning and importance have undergone considerable variations. In the earliest period, the term was used to denote Atma-vidya, the science of the soul, in contrast to Adhyatma-vidya, the spiritual science, or Brahma-vidya, the divine science. In Manu Smriti the term Ānvīkṣikī has been used as equivalent to Atma-vidya and it has been described as a branch of the Vedas. In the fourth century BCE, Kautilya in his Arthashastra recognised it as a distinct branch of learning different from Vedas and other disciplines. Kautilya classifies all disciplines into four categories: scripture (the three Vedas, ''trayi''), agriculture and commerce (''varta''), politics and public administration (''danda-niti''), and ''Ānvīkṣikī'', the investigative reflective science. The distincti ...
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Arthashastra
''Kautilya's Arthashastra'' (, ; ) is an Ancient Indian Sanskrit treatise on statecraft, politics, economic policy and military strategy. The text is likely the work of several authors over centuries, starting as a compilation of ''Arthashastras'', texts which according to Olivelle date from the 2nd c. BCE to the 1st c. CE. These treatises were compiled and amended in a new treatise, according to McClish and Olivelle in the 1st century CE by either an anonymous author or Kautilya, though earlier and later dates have also been proposed. While often regarded as created by a single author, McClish and Olivelle argue that this compilation, possibly titled ''Daņdanīti'', served as the basis for a major expansion and redaction in the 2nd or 3rd century CE by either Kautilya or an anonymous author, when several books, dialogical comments, and the disharmonious chapter-division were added, and a stronger Brahmanical ideology was brought in. The text thus became a proper ''arthashast ...
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Maurya Empire
The Maurya Empire was a geographically extensive Iron Age historical power in South Asia with its power base in Magadha. Founded by Chandragupta Maurya around c. 320 BCE, it existed in loose-knit fashion until 185 BCE. The primary sources for the written records of the Mauryan times are partial records of the lost history of Megasthenes in Roman texts of several centuries later; the Edicts of Ashoka, which were first read in the modern era by James Prinsep after he had deciphered the Brahmi script, Brahmi and Kharoshthi script, Kharoshthi scripts in 1838; and the ''Arthashastra'', a work first discovered in the early 20th century,: "... another source that enjoyed high standing as a description of the early Mauryan state was the Arthashastra, a treatise on power discovered in the early twentieth century." and previously attributed to Chanakya, but now thought to be composed by multiple authors in the first centuries of the common era. Archaeologically, the period of Maury ...
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Chanakya
Chanakya (ISO 15919, ISO: ', चाणक्य, ), according to legendary narratives preserved in various traditions dating from the 4th to 11th century CE, was a Brahmin who assisted the first Mauryan emperor Chandragupta Maurya, Chandragupta in his rise to power and the establishment of the Maurya Empire. According to these narratives, Chanakya served as the chief adviser and prime minister to both emperors Chandragupta Maurya and his son Bindusara. Conventionally, Chanakya was identified with Kauṭilya and synonymously Vishnugupta, the author of the ancient Indian politico-economic treatise ''Arthashastra''. ''Arthashastra'' is now thought with high probability to have been composed by multiple authors during the early centuries of the common era—several centuries after the Mauryan period—the backdated identification with Chanakya to have served to add prestige to the work. Chanakya-Chandragupta ''katha'' (legend) There is no documented historical informati ...
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Atharvaveda
The Atharvaveda or Atharva Veda (, , from ''wikt:अथर्वन्, अथर्वन्'', "priest" and ''wikt:वेद, वेद'', "knowledge") or is the "knowledge storehouse of ''wikt:अथर्वन्, atharvans'', the procedures for everyday life".Laurie Patton (2004), "Veda and Upanishad," in ''The Hindu World'' (Editors: Sushil Mittal and Gene Thursby), Routledge, , page 38 The text is the fourth Veda, and is a late addition to the Vedic scriptures of Hinduism.Laurie Patton (1994), ''Authority, Anxiety, and Canon: Essays in Vedic Interpretation,'' State University of New York Press, , page 57 The language of the Atharvaveda is different from Rigvedic Sanskrit, preserving pre-Vedic Indo-European archaisms. It is a collection of 730 Music of India#History, hymns with about 6,000 mantras, divided into 20 books.Maurice Bloomfield''The Atharvaveda'' Harvard University Press, pages 1-2 About a sixth of the Atharvaveda texts adapt verses from the Rigveda, and exce ...
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Vedas
FIle:Atharva-Veda samhita page 471 illustration.png, upright=1.2, The Vedas are ancient Sanskrit texts of Hinduism. Above: A page from the ''Atharvaveda''. The Vedas ( or ; ), sometimes collectively called the Veda, are a large body of religious texts originating in ancient India. Composed in Vedic Sanskrit, the texts constitute the oldest layer of Sanskrit literature and the oldest Hindu texts, scriptures of Hinduism. There are four Vedas: the Rigveda, the Yajurveda, the Samaveda and the Atharvaveda. Each Veda has four subdivisions – the Samhitas (mantras and benedictions), the Brahmanas (commentaries on and explanation of rituals, ceremonies and sacrifices – Yajñas), the Aranyakas (text on rituals, ceremonies, sacrifices and symbolic-sacrifices), and the Upanishads (texts discussing meditation, philosophy and spiritual knowledge).Gavin Flood (1996), ''An Introduction to Hinduism'', Cambridge University Press, , pp. 35–39A Bhattacharya (2006), ''Hindu Dharma: Introduc ...
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