Economy

Mercantilism

1500

Premises of capitalist develope.
Politic economy realization.
Precious metals are important.
Foreign trade importance.
The goods "horror".
Manufacture.
Favorable attitude to sells.
The wish of making and accumulating money.
Jean Bodin: mercantilism precursor and author of a coin treatment.
Gerald Malynes: he made a distinction between usury and interest, he is the main representant of metal theory.
Eduardo Misselden: he was the first one to announce the concept fo balance of trade.

Political Economy

1700

William Petty: foundator.
Work value theory.
State must protect industrial property and citizens must help with expenses.
Natural price and political price.
Introduces minimun wage because he doesn't want people to do anything.
Hume David: Inflation with profits.

Physiocracy

1800

Francois Quesnay: he wrote "le tableau economique", and made a description of circulation and distribution of richness.
Precursors of modern economy.
Considers agriculture as the only productive activity and industry, trade and services as non functional.
State must put a limit on its intervention.
An excedent creation:produit net.
Society is ruled by a natural order.

Classical

1800

Industrial revolution.
French revolution.
Its investigation was ordered and systematic.
General idea of economy's behaviour.
Adam Smith: he wrote "The richness of nations" where he talked about economic liberalism.
State intervention is not necessary.
Laissez faire, laissez passer.
Natural price and offer and demand price.
David Ricardo: he wrote "Politic economy principles and tributations".
Value comes from work or shortage.
Thomas Malthus: positive hunger and wars to stop population growth.

Marxism

1900

Carlos Marx: he wrote political economy critics, an a tesis about feverbach, salaried work, capital, salary, price and profit, etc.
Federico Engels: he wrote works on man's transformation, utopic socialism, scientific socialism, private property, etc.
Vladimir Lenin: Russia's capitalism, imperialism and Marxism.
Economic regimen is the base of society.
Capitalists can't live without salary.

Keynesianism

1900

John M. Keyness.
Job depends on effective demand.
Effective demand is determinated by consumption, property and investment volume.
Investment depends on interest.
Interest depends on money quantity.
Macroeconomic theory.
Against liberalism.

Monetarism

2000

Milton Friedman
Theory's principal objective is prediction.
Inflation's theory.
Analizes money's total demand and monetary offer.
Developes a macroeconomic complete system.
Nothing affects efficience more than moving prices.
Economy would be stable without government.