[amp_mcq option1=”David Ricardo” option2=”Adam Smith” option3=”T.R.Malthus” option4=”J.S.Mill” correct=”option3″]<\/p>\n
Adam Smith is generally regarded as the founder of the ‘Classical School’. He was a Scottish economist and philosopher who is considered the father of modern economics. His book, The Wealth of Nations, published in 1776, is considered one of the most important works in the history of economic thought. In it, Smith argued that the free market is the best way to organize an economy and that government intervention should be limited.<\/p>\n
David Ricardo was an English economist who is best known for his work on comparative advantage. He argued that countries should specialize in producing the goods and services in which they have a comparative advantage, and then trade with other countries for the goods and services they do not produce as efficiently.<\/p>\n
Thomas Robert Malthus was an English economist and demographer who is best known for his work on population growth. He argued that population growth would always tend to outstrip the growth of food production, leading to poverty and starvation.<\/p>\n
John Stuart Mill was an English philosopher, economist, and politician who is considered one of the most influential thinkers of the 19th century. He is best known for his work on utilitarianism, which is a theory of morality that holds that the right action is the one that produces the greatest happiness for the greatest number of people.<\/p>\n
All four of these economists were important figures in the development of economic thought, but Adam Smith is generally regarded as the founder of the ‘Classical School’.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”David Ricardo” option2=”Adam Smith” option3=”T.R.Malthus” option4=”J.S.Mill” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-56243","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n