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Modern Economics
Title: Modern Economics
Category: Law & Government / Government & Politics
Details: Words: 1753 | Pages: 7.5 (approximately 235 words/page)
Modern Economics
Modern economics-or political economy, as it used to be called-dates back to
1776. It didn’t begin with the American Revolution. A man named Adam Smith, a
Scottish philosopher, published a book called Smith’s work is considered the first example of modern
economics. In some places Smith is most famous for suggesting that business always try
to monopolize markets and raise prices. Economists credit him with the theory of the
“invisible hand”- the idea that …showed first 75 words of 1753 total…
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…showed last 75 words of 1753 total…economy. The
different kinds of markets provide a different understanding. The stock market also is an
indicator of the economy . The stock market shows the sales and wealth of the different
markets around our country. If the economy is good, we know it. It shows everywhere
and politicians dont hesitate to base an election on how well they did, or how
awful the economy was under another politician. It will make or break the politician.
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