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The document provides an overview of classical economic ideas from the 16th-18th centuries. It defines key terms like capitalism, market economy, mercantilism, and physiocrats. It outlines the differing views of mercantilists and physiocrats on the source of economic surplus. Mercantilists believed surplus came from trade balances while physiocrats believed it came from agriculture. It also summarizes Adam Smith

Author

Jimmy

Language

EN