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Essay

Classical Economists

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Issue:

Social Issues

 

Written by:

Tracie T

 

Date added:

December 28, 2011

 

Level:

University

 

Grade:

B

 

No of pages / words:

3 / 715

 

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6138 times

 

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Essay content:

From Ricardo, classicists derived the notion of diminishing returns, which held that as more labor and capital were applied to land yields after a certain and not very advanced stage in the progress of agriculture steadily diminished. The central thesis of The Wealth of Nations is that capital is best employed for the production and distribution of wealth under conditions of governmental noninterference, or laissez-faire, and free trade...
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From Ricardo, classicists derived the notion of diminishing returns, which held that as more labor and capital were applied to land yields after a certain and not very advanced stage in the progress of agriculture steadily diminished. The central thesis of The Wealth of Nations is that capital is best employed for the production and distribution of wealth under conditions of governmental noninterference, or laissez-faire, and free trade...
displayed 300 characters

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