Classical Political Economy

Encyclopedia of Political Theory, ed. Mark Bevir. (Los Angeles: SAGE, 2010, pp. 217-221)

Posted: 20 Sep 2015  

Peter J. Boettke

George Mason University - Department of Economics

Nicholas A. Snow

Wabash College - Economics

Date Written: 2010

Abstract

Classical Political Economy is characterized by the systemic study of economic forces. Primarily concerned with the dynamics of economic growth, the classical economists sought to explain how and why wealth is created and destroyed. Their study found the role of institutions central in answering this question and as a result, stressed the importance of laissez-faire, free trade, and free competition. This entry reviews the history and basic elements of classical liberty political economy, some of the criticisms that have been raised, and the impact of classical political economy on economic policy.

Keywords: Classical Political Economy; Liberalism; Scottish Enlightenment

JEL Classification: B12

Suggested Citation

Boettke, Peter J. and Snow, Nicholas A., Classical Political Economy (2010). Encyclopedia of Political Theory, ed. Mark Bevir. (Los Angeles: SAGE, 2010, pp. 217-221). Available at SSRN: https://ssrn.com/abstract=2662732

Peter J. Boettke (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

Nicholas A. Snow

Wabash College - Economics ( email )

P.O. Box 352
Crawfordsville, IN 47933-0352
United States

Paper statistics

Abstract Views
307