Classical political economy

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Classical political economy is a school of thought in economics which was founded by William Petty in the second half of the 17th century and reached its most advanced form with Adam Smith and David Ricardo.[1] The term classical in reference to this period was coined by Karl Marx.[2]


  1. Kurz, Heinz D. Economic Thought : A Brief History. Columbia University Press.
  2. Marx, Karl. Capital. Vol. I. at the Marxists Internet Archive.