Economic theory as an independent science arose much later - in the period of the
emergence of the capitalist system, the formation of a national market.
Since capitalist relations began to be formed primarily in the field of trade, the
first economic doctrine that arose in the 15th and 17th centuries - mercantilism - studied
the laws of trade. According to this theory, the wealth of society is expressed in the
accumulation of money, especially gold and silver. Of all types of activities, priority
was given to trade. The practical recommendations of the mercantilists were to make
foreign merchants spend all the money received on the purchase of goods in the
territory of the same country. By some governments, this provision was implemented
through a ban on the export of precious metals, the introduction of supervisory posts
to control the use of foreign trade receipts. Later, the mercantilists realized that only
forcible detention in the country of gold and silver could not provide the country with
wealth. English economist Thomas Man concluded that the wealth of the country
depends on the ratio of imports and exports of goods to the country. He proved that the
export of gold and silver abroad for the purpose of buying goods could be more
profitable for the country than mere wealth accumulation. Among his practical
recommendations to the government was such - it is necessary to win competitors in
international markets. The study of mercantilists for a long time served as the basis for
the policy of many countries was the theoretical justification for the capture of the
colonies.
The representative of the school of mercantilists, Antoine de Montchrestien, is the
author of the term "political economy". In 1615 he published the "Treatise of Political
Economy" thus giving the definition of a whole science. The term "political economy"
was born as a consequence of the use of ancient Greek words: "Politeya" - a social
order, "Oikos" - a house, an economy, and "Nomos" - a law.
Mercantilism has not been logically built economic science yet. His main
provisions arose not as a result of theoretical analysis, but as a consequence of a simple
description of phenomena, still occurred. The subject of their research representatives
of this school saw the search for ways to create wealth, definition of basic rules of
economic activity.
The next step in the development of economic theory is connected with
Physiocrats. The founder of this school is Francois Quesnay (1694-1774). Physiocrats
believed that the source of country wealth is not trade, but agriculture.
It was in their opinion that an additional product was created at the expense of
which the wealth of the country was accumulated and, consequently, they concluded
that only in agriculture labor was productive, and all other sectors were using
agricultural products: they only recycle and use it, and therefore play in life of a
secondary role. Physiocrats have moved the subject of political economy - national
wealth from the sphere of circulation to the sphere of production. This was a great
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