Wednesday, March 9, 2011

History of Economic Thoughts

The History of Economic Thought deals with changed thinkers and theories in the topic that became political economy and economics from the ancient world to the current day. It encompasses many disparate schools of economic thought. Greek writers such as the philosopher Aristotle examined ideas about the "art" of wealth acquisition and questioned whether property is best left in private or public hands. In medieval times, scholars such as Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price.