Základy ekonomickej teórie

Август 24, 2022

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Základy ekonomickej teórie

Содержание

2. Preclassical and Classical Schools of Economics The Ancients and the Scholastics Sir William Petty and the
3. Ancients The study of the economy in Western civilization began largely with the Greeks, particularly Xenophon,
4. Contribution of the Ancients Greeks The Greeks contribution to western thought was a rational approach to
5. Xenophon (c. 427 – 355 B.C.) In his Oeconomicus he explores the proper organization and administration
6. Plato (c.427-327 B.C) Plato analysed the entire political and economic structure of the state. He searched
7. Plato (c.427-327 B.C) Plato recognized specialization and division of labour as a source of efficiency and
8. Aristotle (c.384 – 322 B.C.) Aristotle, unlike Plato, defended private property for all classes, on the
9. Aristotle (c.384 – 322 B.C.) In his Topics and Rhetorics he discussed value in terms of
10. Aristotle (c.384 – 322 B.C.) In Nichomachean Ethics Aristotle described money as an object of acquisitive
11. Roman Contribution The most important economic activity in the Roman Empire was agriculture based on the
12. Roman Contribution The one great achievement of Roman society was the law. Roman law was divided
13. Early Christianity The early Christian writers (the Saints Augustine, Ambros) were primarily interested in the morality
14. The Middle Ages The dominant form of economic organization in the Middle Ages was feudalism. Economic
15. Scholastics (from the 10-th to the 14-th century) Scholastics joined together the several strands of thought
16. Saint Thomas Aquinas (c. 1225-1274) He defined the role of state in sense of final goal
17. Saint Thomas Aquinas (c. 1225-1274) He reaffirmed the double measure of goods: value in use versus
18. Scholastics During the Middle Ages , usury and „just price“ were the main economic topics that
19. Mercantilism By the 15-th century institutional changes were under way : Faster development of trade Development
20. Mercantilism Thus mercantilism refers to the period between feudalism and liberalism. It describes the system of
21. Mercantilism Mercantilist principles of national economy: All raw materials found in a country should be used
22. Mercantilism Money and its accumulation were prime concerns of the growing nation-states of the mercantile era.
23. Thomas Munn (1571 - 1641) He developed the idea that a long term balance trade surplus
24. French Mercantilism French mercantilism is often called „Colbertism“ thus bearing personal stamp of J.B.Colbert (finance minister
25. German Mercantilism Cameral science: study of public administration. Balance trade surplus. Higher population growth results in
26. Growing importance of trade, and development of economy and society as a whole brought new philosophy
27. Physiocracy Physiocracy was based on: Natural law: all social facts are linked together in the bonds
28. Physiocracy Francois Quesnay (1694-1774): Tableau Economique – visual representation of the circular flow divides the economy
29. Physiocracy To the Physiocrats „production“ meant creating a „surplus“: that industry that makes more than is
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Preclassical and Classical Schools of Economics
The Ancients and the Scholastics
Sir

William Petty and the Mercantilists
François Quesnay and the Physiocrats
THE CLASSICALS
Adam Smith
David Ricardo, John Stuart Mill ,T. Robert Malthus
Jean-Baptiste Say

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Ancients
The study of the economy in Western civilization began largely with

the Greeks, particularly Xenophon, Plato and , Aristotle with contributions by other writers. We refer to these as the "Ancients".

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Contribution of the Ancients Greeks
The Greeks contribution to western thought was

a rational approach to social science in general.
They noticed the self-regulating capacities of individuals making rational decisions, but they did not discover the market place as a self-regulating mechanism, which is the essence of modern economics.

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Xenophon (c. 427 – 355 B.C.)
In his Oeconomicus he explores the proper

organization and administration of private and public affairs. Viewing the material environment as fixed, he identified the chief variable of administration as human capacity directed by good leadership.
Xenphon's leader is motivated by self-interest. He strives to increase the size of the economic surplus. It can be accomplished through skill, order, and one the most basic of economic principles, the division of labour.

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Plato (c.427-327 B.C)
Plato analysed the entire political and economic structure of

the state. He searched for the optimum economy and he approached it by refining the moral imperative of justice.(The Republic)
His notion of an optimum state is a rigid, static, ideal situation from which he considered any change at all to be regressive. Contrary to Xenophon, Plato regarded all forms of acquisitive behaviour, including profit and interest, as potentially destructive (threats to the status quo).
This is why money and trade must be subject to administrative control.

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Plato (c.427-327 B.C)
Plato recognized specialization and division of labour as a source

of efficiency and productivity. He constructed an ideal state on the foundation of wise and efficient leadership.
He proposed class specialization:
Class of rulers
Class of :guardians“
Productive class
Elite groups would be without possession isolated from all corruption.

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Aristotle (c.384 – 322 B.C.)
Aristotle, unlike Plato, defended private property for all

classes, on the grounds that it promotes economic efficiency, social peace, and encourages the development of moral character.
He favoured a mixed economy that allowed greater play for economic incentives.

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Aristotle (c.384 – 322 B.C.)
In his Topics and Rhetorics he discussed value

in terms of systematic comparison based on subjective marginal utility but completely unrelated to price theory.
Aristotle analysed isolated exchange as opposed to market exchange. He viewed exchange as bilateral process in which both parties would be better of as a result of the exchange

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Aristotle (c.384 – 322 B.C.)
In Nichomachean Ethics Aristotle described money as an

object of acquisitive behaviour.
He recognized the use of exchange to satisfy natural individual and collective wants, but he did not approve of the use of exchange as a device for accumulating wealth.
The natural use of money is to spend it. The accumulation for its own sake is unnatural, and therefore Aristotle condemned it.

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Roman Contribution
The most important economic activity in the Roman Empire was

agriculture based on the work of slaves.
At the same time slavery represented barriers to the growth of labour productivity and to the effective agriculture.

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Roman Contribution
The one great achievement of Roman society was the law.

Roman law was divided into a civil law that applied only to relations between citizens and a kind of common law that ruled commercial and other relations between noncitizens or between citizens and noncitizens.
The Roman law of property and contract, for example, subsequently became a pillar of the legal systems in the western world. In general, Roman law provided the framework upon which the economics of a later day was slowly but surely mounted.

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Early Christianity
The early Christian writers (the Saints Augustine, Ambros) were primarily

interested in the morality of individual behaviour.
Physical work especially in agriculture is considered as the most important one and on the other side trade was seen as a not very Christian activity.
The nature of economic mechanisms seemed to be of no interest to the church's leaders or its writers.

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The Middle Ages
The dominant form of economic organization in the Middle

Ages was feudalism. Economic production under feudalism took place on the manor, or agricultural estate.
Medieval economics was the product of the clergy, particularly a group of learned writers that we now refers to as Scholastics (10-th century). (It simply means professors or teachers).

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Scholastics (from the 10-th to the 14-th century)
Scholastics joined together the

several strands of thought that constitutes medieval economics: ideas gleaned from Aristotle and Bible, from Roman Law and canon law.
Saint Thomas Aquinas (c. 1225-1274) in his Summa Theologicae developed Scholastic economics. He was inspired mainly by Aristotle.

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Saint Thomas Aquinas (c. 1225-1274)
He defined the role of state in

sense of final goal that is the wealth of nation guaranteed by the protection of justice and of private property.
The private property supports individual effort to manage possession and to assure stable society in order.

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Saint Thomas Aquinas (c. 1225-1274)
He reaffirmed the double measure of goods:

value in use versus value in exchange, that Aristotle established. He also introduced need into the price formula, because he argued that price varies with need.
He introduced into Scholastic economics term „just price“ of a good. (Following the Golden Rule: a person should not charge more for a good than what he would be willing to pay for it himself.)

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Scholastics
During the Middle Ages , usury and „just price“ were the

main economic topics that occupied Scholastics.
Their analysis neglected the productivity of money as an economic resource. Only transaction money could be used , the idea of usury was condemned, because usury was defined as a transaction „where more is asked as is given“.

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Mercantilism
By the 15-th century institutional changes were under way :
Faster development

of trade
Development of national markets
More centralized nation-states.
By the 19-th century the intellectual and institutional environment changed again to allow more individual freedom and less concentration of economic and political power.

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Mercantilism
Thus mercantilism refers to the period between feudalism and liberalism. It

describes the system of economic ideas that dominated economic discourse from the beginning of the 16-th century to the end of the 18-th century.
Most of the mercantilists were merchants, public officers, bank managers.

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Mercantilism
Mercantilist principles of national economy:
All raw materials found in a country

should be used in domestic manufacture
All export of gold and silver should be prohibited
All imports of foreign goods should be discouraged as much as possible
No importation should be allowed if such goods are sufficiently and suitably supplied at home

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Mercantilism
Money and its accumulation were prime concerns of the growing nation-states

of the mercantile era.
The acquisition of gold through trade and trade restrictions of many types were essential mercantile idea, and money, not real goods, was commonly equated to wealth.
There are two periods of mercantilism:
Early mercantilism (balance of trade surplus)
Developed mercantilism (balance of payment surplus).

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Thomas Munn (1571 - 1641)
He developed the idea that a long term

balance trade surplus has put up prices and lowered competition.

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French Mercantilism
French mercantilism is often called „Colbertism“ thus bearing personal stamp

of J.B.Colbert (finance minister of Louis XIV) .
He supported development of national market, production set for export, construction of roads.
French mercantilism differed in a very high degree of centralisation and very efficient system of policing.

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German Mercantilism
Cameral science: study of public administration.
Balance trade surplus.
Higher population growth

results in higher production growth rate and employment, and consequently it leads to higher budget revenues .

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Growing importance of trade, and development of economy and society as

a whole brought new philosophy and new ideas about the nature of society.
John Locke (1632-1704) - political philosopher and David Hume (1711-1776) – philosopher- economist:
Private property is a natural human right.
Free trade

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Physiocracy
Physiocracy was based on:
Natural law: all social facts are linked together

in the bonds of inevitable laws.
Economic liberalism.
The primacy of agriculture.
Physiocracy was the liberal reaction to the French mercantilism.

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Physiocracy
Francois Quesnay (1694-1774): Tableau Economique – visual representation of the circular

flow divides the economy into three classes:
A productive class made up entirely of agriculturist
A sterile class consisting of merchants, manufacturers, domestic servants, and professional people
A proprietary class, including not only landlords but also those who have the slightest title to sovereignty of any kind.

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Physiocracy
To the Physiocrats „production“ meant creating a „surplus“: that industry that

makes more than is consumed in the process is productive.
The net product is produced entirely by the first class. Thus, the net product was perceived as the true source of real wealth.
The Physiocrats argued in favour of a tax reform: to tax the landlord.

Základy ekonomickej teórie

Содержание

Preclassical and Classical Schools of Economics The Ancients and the ScholasticsSir

AncientsThe study of the economy in Western civilization began largely with

Contribution of the Ancients GreeksThe Greeks contribution to western thought was

Xenophon (c. 427 – 355 B.C.)In his Oeconomicus he explores the proper

Plato (c.427-327 B.C)Plato analysed the entire political and economic structure of

Plato (c.427-327 B.C)Plato recognized specialization and division of labour as a source

Aristotle (c.384 – 322 B.C.)Aristotle, unlike Plato, defended private property for all

Aristotle (c.384 – 322 B.C.)In his Topics and Rhetorics he discussed value

Aristotle (c.384 – 322 B.C.)In Nichomachean Ethics Aristotle described money as an

Roman ContributionThe most important economic activity in the Roman Empire was

Roman ContributionThe one great achievement of Roman society was the law.

Early ChristianityThe early Christian writers (the Saints Augustine, Ambros) were primarily

The Middle AgesThe dominant form of economic organization in the Middle

Scholastics (from the 10-th to the 14-th century) Scholastics joined together the

Saint Thomas Aquinas (c. 1225-1274)He defined the role of state in

Saint Thomas Aquinas (c. 1225-1274)He reaffirmed the double measure of goods:

ScholasticsDuring the Middle Ages , usury and „just price“ were the

MercantilismBy the 15-th century institutional changes were under way :Faster development

MercantilismThus mercantilism refers to the period between feudalism and liberalism. It

MercantilismMercantilist principles of national economy:All raw materials found in a country

MercantilismMoney and its accumulation were prime concerns of the growing nation-states

Thomas Munn (1571 - 1641)He developed the idea that a long term

French MercantilismFrench mercantilism is often called „Colbertism“ thus bearing personal stamp

German MercantilismCameral science: study of public administration.Balance trade surplus.Higher population growth