Economia Clássica - estudo Unicesumar economia, aluno Wagner Vinicius Lemos....

Classical Economics- Economic Sciences study, student Wagner Vinicius Lemos, Unicesumar 3rd semester of economics course, Brazil.

The foundation of economic liberalism lies, basically, in five principles: 1. Personal freedom. 2. Private property. 3. Individual initiative. 4. Private company. 5. Minimal government interference.
                     According to Brue (2016), the term liberalism can not be analyzed outside the historical context: the classical ideas were liberal, in contrast to the feudal and mercantilist restrictions on the choice of professions, land transfers, commerce and so on. A person who defends economic liberalism can be called "conservative" today. At this point we have a very important time dimension for the history of economic thought: two "revolutions". In Brue p. 46) we are dealing with "one relatively mature and the other only at the beginning".
                   The Scientific Revolution, insofar as it gave rise to the challenge of "truths", opened space for the second economic-social transformation: the Industrial Revolution. With the end of feudalism and the transitory process of mercantilism, the capitalist mode of production in ascendancy clearly reveals intrinsic socio-economic characteristics in the Industrial Revolution. England is the cradle of the Industrial Revolution, because between 1700 and 1770, foreign markets for English products grew much faster than English domestic markets.
                Both the Industrial Revolution and the Classical Political Economy first developed in England. Smith and his contemporaries who lived during the early stages of the Industrial Revolution could not adequately identify the representativeness of this phenomenon and the direction that this development would take.
                    In the long run, classical economics served the whole society, because the application of its theories promoted capital accumulation and economic growth. It presents a new time for entrepreneurs. The classical economists offered the best analysis of the economic world until their time. This school is responsible for the basis of the modern economy, that is, of the economy as a social science. The classics note that all economic resources - land, labor, capital, and entrepreneurial ability - as well as economic activities - agriculture, trade, production, and international trade - all contributed to the wealth of a nation. The mercantilists had said that wealth derived from commerce, Physiocrats believed that land and agriculture were the sources of wealth. With the exception of Ricardo, the classics emphasized the natural harmony of interests in a market economy. By running after their individual interests, people served the best interests of society. Classics believed that the laws of economics are universal and immutable.