A History of Economic Doctrines: From the Time of the Physiocrats to the Present Day

A comprehensive historical account of economic theories written in the early 20th century. The book traces the evolution of economic thought from the Physiocrats to modern theories, examining key doctrines and their historical contexts. It delves into the foundational ideas that shaped classical economics, alongside varying schools of thought, offering insight into the relationships among these economic ideas over time. The opening of the book introduces the historical significance of the Physiocrats, marking them as the founders of political economy. The authors assert that the Physiocrats established the concept of a unified science of society based on the notion of a ''natural order,'' which they argued governed economic interactions and principles. Central to their theory was the belief that land was the primary source of wealth, leading them to classify social classes into productive, proprietary, and sterile groups. Through the exploration of their doctrines, the authors lay the groundwork for understanding the subsequent developments in economic thought that challenge and build upon the foundations set by the Physiocrats.