ADAM SMITH, "THE FATHER OF POLITICAL ECONOMY" AND HIS ECONOMIC CONCERNS

Ioana Anda Milin, Marius Robert Lungu, Mariu Gordan

Abstract


Theoretically, classical economic liberalism is represented by the English Classical School, its important representatives being Adam Smith, David Ricardo and Thomas Malthus. In this paper I referred to Adam Smith's conception of the functioning of the capitalist mode of production as a result of the industrial revolution. The paper summarizes the main concerns and theories of the famous economist, theories and concepts on which political economy is based today.


Keywords


economic theory; liberalism; value; price; industrial revolution

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References


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