Agricultural influence on the development of economic theories
2019
Tsuge, N. (Tohoku University (Japan))
In this paper, we tried to explain how agriculture has influenced the development of economic theories. Physiocracy was born with idea that nature (=agriculture) produces wealth. Growth of capitalist farming in England helped the establishment of classical economics. As the wage-fund doctrine and natural wage theory of classical economics were founded on the predominance of agricultural economy and the agricultural nature of decreasing return, changes of those natures led into the fall of classical economics and the birth of neoclassical economics. Neoclassical economics of the present is exemplified by cases of agriculture. The exchange-type market image of neoclassical economics is also based on agriculture.
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